Almonty Industries Consolidates Trading Venues as Sangdong Mine Moves Into Production
Published on 07/26/2026 at 22:01 | Redaktion boerse-global.de
Almonty Industries is reshaping its corporate structure on multiple fronts simultaneously, exiting two stock exchanges while its flagship tungsten project in South Korea transitions from development to active output. The moves come as the company's shares have pulled back sharply from recent highs, though long-term holders remain comfortably in the black.
The tungsten producer will see its common shares cease trading on the Toronto Stock Exchange at the close of business on July 31, 2026, following a voluntary delisting application. That exit follows a similar decision in Australia, where the ASX approved the removal of Almonty's CHESS Depositary Interests on July 23, with trading in Sydney suspended from August 28 and an official delisting scheduled for September 1.
Management cited thin trading volumes in both Toronto and Sydney as the primary rationale. By concentrating liquidity on just two venues — the Nasdaq Capital Market under the ticker "ALM" and the Frankfurt Stock Exchange, where the bulk of daily trading already occurs — the company expects to reduce listing, administrative and compliance costs. The corporate headquarters has already moved from Toronto to Dillon, Montana, a shift intended to deepen ties with U.S. government agencies and industrial partners, particularly in defense and high-tech sectors where tungsten is classified as a critical mineral.
For CDI holders on the ASX, Almonty will dispatch information letters on July 29 outlining options to convert their holdings into Nasdaq-listed shares or to sell through a voluntary facility. No new CDIs have been issued since July 24.
Should investors sell immediately? Or is it worth buying Almonty?
The stock has felt the weight of the transition. Shares closed at C$18.81 on Friday, down 5.52 percent on the day and 19.58 percent over the past month. That slide pushed the price below the 200-day moving average of C$19.15 by 1.78 percent — a level chart-focused investors watch closely. The 14-day relative strength index sits at 38.8, edging toward oversold territory without having crossed the threshold.
Resistance levels now stand at C$23.81 (the 50-day average) and C$25.09 (the 100-day average), both well above the current price. The annualized 30-day volatility has climbed to 81.09 percent, underscoring the stock's recent turbulence.
Yet the longer view tells a different story. Almonty shares have gained 55.84 percent since the start of 2026 and have surged 211.42 percent over the past twelve months, a reminder that the recent pullback follows an extended rally.
Operationally, the company is hitting its most important milestone in years. The Sangdong mine in South Korea began processing ore on July 1, 2026, marking the transition from development to production of marketable tungsten concentrate. That ramp-up is backed by an expanded offtake agreement with Global Tungsten & Powders, a subsidiary of the Plansee Group. The new 21-year contract increases total volume by 40 percent and covers roughly 90 percent of Sangdong's Phase I output, giving Almonty a secured revenue channel as it enters production.
Almonty at a turning point? This analysis reveals what investors need to know now.
Analysts have taken note. Sphene Capital reaffirmed its buy rating on Almonty on July 20, raising its price target to C$38.90 from C$37.40, citing the enhanced offtake deal and the improved visibility it provides for future cash flows.
Western markets are actively seeking tungsten supply chains independent of dominant foreign producers, a dynamic that adds strategic weight to Almonty's positioning. By the time both delistings are complete on September 1, the company will have narrowed its trading footprint to the Nasdaq and Frankfurt, with Sangdong production ramping up and a long-term offtake agreement providing the financial foundation. Trading on the Nasdaq will begin in earnest on August 3, offering the first real test of how liquidity redistributes without the TSX in the picture.
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