Almonty Gains a Russell Seat, but the Market Wants Proof at Sangdong
30.06.2026 - 08:31:59 | boerse-global.de
The stock has shed 15 percent over the past month, yet Almonty Industries just secured a prize that forces the world’s biggest index funds to buy its shares. Since Monday, the tungsten producer has traded in the Russell 1000 and Russell 3000 – a milestone the company says it earned on “hard numbers” alone, not an invitation.
The Russell family of benchmarks tracks roughly $12.2 trillion in assets. Any fund that replicates those indices must now add Almonty to its portfolio, creating a steady stream of passive demand. CEO Lewis Black has been clear that the move was driven entirely by market-cap growth, not lobbying. The hope is that institutional ownership will eventually tame the stock’s outsized swings.
The company’s market capitalisation stands at about C$6.5 billion, enough to clear Russell’s admission bar. But the real engine behind that value lies in South Korea. Almonty’s Sangdong mine is slated to reach full production by the end of 2027, at which point it is expected to supply around 40 percent of the world’s tungsten demand outside China. Tungsten is classified as a critical mineral – vital for armour, cutting tools and electronics – and Western buyers are scrambling for alternatives to Chinese exports.
Should investors sell immediately? Or is it worth buying Almonty?
For now, though, the share price is feeling the heat. Almonty closed Monday at C$22.33, down 13 percent from a week earlier and well below its 50-day moving average. The annualised volatility runs at an eye-watering 91 percent. On the plus side, the 200-day line at C$18.11 offers a solid floor, and the relative strength index has slipped to 38.8, edging into oversold territory.
The longer-term picture tells a different story. Since the start of the year the stock has climbed almost 86 percent, and over the past twelve months it has more than tripled – a 232 percent gain. That rally earned the Russell listing, but the market now appears to be pricing in execution risk. Once the index-driven buying is absorbed, attention will shift squarely back to Sangdong. Almonty’s management must show that the 2027 production timeline is on track. The Russell entry gets them in the door; the mine will determine whether they stay.
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