Almonty Eyes Russell Index Entry as Sangdong Drilling Confirms Dual-Metal Potential
Published on 06/17/2026 at 18:24 | Redaktion boerse-global.de
South Korea’s push to secure domestic supplies of critical defense metals is giving Almonty Industries a clear strategic tailwind. The government has publicly urged private companies to shore up local sources of molybdenum, a metal essential for heat-resistant alloys used in semiconductors, aerospace and military applications. Almonty’s Sangdong project, located in Gangwon province, is emerging as a potential solution, and the company has just passed a key milestone in proving up the resource.
The drilling campaign at the site is now 37% complete, with 26 holes planned for a total of 12,000 meters. Assay results received so far confirm mineralized grades that match historical data, bolstering confidence in the size and quality of the molybdenum deposit. CEO Lewis Black has said that production will begin immediately once the remaining 63% of the drill program is finished. Further assay results are expected within the next two to four weeks.
Financing for the expansion is already in place. Almonty recently secured a convertible note worth approximately $773 million, with proceeds earmarked for the build-out and completion of the Sangdong mine. The funding has helped stabilise the share price after a period of pronounced volatility. The spot molybdenum price has also provided tailwinds, rising roughly 23.5% over the past year to CNY 592.34 per kilogram.
Should investors sell immediately? Or is it worth buying Almonty?
The next major catalyst on the calendar is the planned inclusion of Almonty in the Russell indices on June 29, 2026. An index addition will force passive funds to buy the stock, creating structural demand independent of operational developments. Nine analysts currently rate the shares a “buy”, with a consensus price target of C$27.37 – still some 21% below the 52-week high of C$33.35.
The stock has already delivered explosive returns. On Tuesday it closed at C$26.08, and by the time of writing it had edged up to C$26.32, a 1.3% gain for the day. Year-to-date, the share price has jumped nearly 117% (or almost 119% according to one account), while over the past twelve months the gain stands at a staggering 459% – more than quadrupling. The 200-day moving average sits at approximately C$17.34, well below the current level, and the relative strength index is hovering around 51–52, indicating neutral momentum after a recent seven-day rally of nearly 24% that did not overheat the stock.
Despite the strong run, the annualised 30-day volatility remains above 100%, reflecting the sharp price swings that have characterised the name. With tungsten production expected to begin in the first half of 2026 and the molybdenum drilling program nearing completion, Sangdong is steadily transforming into a multi-metal complex. The next inflection point will likely come when the remaining assay results confirm the full extent of the ore body, paving the way for construction of the molybdenum circuit.
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