Almonty Industries Faces a Two-Front Transformation: Production Ramp-Up and Exchange Consolidation
Published on 07/26/2026 at 06:03 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is navigating one of the most consequential periods in its corporate history, juggling a major operational milestone with a sweeping restructuring of its stock exchange presence. While the company’s Sangdong mine in South Korea has officially shifted from development to production, investors are also counting down the final trading days on the Toronto Stock Exchange.
The Delisting Calendar
Almonty’s shares will trade for the last time on the TSX on July 31, 2026. The voluntary exit from Toronto is followed by a withdrawal from the Australian Securities Exchange, where the ASX approved the delisting on July 23. Trading of CHESS Depositary Interests ceases on August 28, with the final delisting taking effect on September 1. After that, Almonty’s liquidity will be concentrated on the Nasdaq Capital Market under the ticker ALM and the Frankfurt Stock Exchange under ALI1.
The company cites a straightforward rationale: the overwhelming majority of daily trading volume now flows through the Nasdaq, making the secondary listings in Toronto and Sydney costly administrative burdens that contribute little to liquidity. Canadian and Australian shareholders are not forced to sell — Almonty notes that positions can be managed through international brokerage accounts — but the shift marks a clear strategic pivot toward deeper US markets.
Stock Under Pressure
The delisting news has weighed heavily on the share price. On Friday, the stock fell 5.52 percent to C$18.81, slipping below its 200-day moving average of C$19.15 for the first time in an extended period. Technical traders watch that line closely as a gauge of long-term sentiment, and its breach has added to the bearish mood.
Should investors sell immediately? Or is it worth buying Almonty?
The current price sits 43.6 percent below the 52-week high of C$33.35 reached in April. Over the past 30 days, the stock has dropped nearly 20 percent, though the year-to-date gain remains a robust 55.84 percent. The relative strength index stands at 38.8, placing the stock closer to oversold territory than overbought — a level that could attract buyers betting on a stabilization. Still, the annualized volatility of roughly 81 percent underscores just how jittery the market has become.
Sangdong Enters Production
Amid the exchange upheaval, Almonty’s operational story has taken a decisive turn. On July 1, the company officially began processing ore at the Sangdong mine in South Korea, transitioning from a development-stage project to an active producer of saleable tungsten concentrate. The plant is currently working through an initial stockpile of approximately 139,700 tonnes of run-of-mine ore and is gradually ramping up toward full Phase 1 capacity.
This operational shift rests on a significantly strengthened commercial foundation. In mid-July, Almonty expanded its offtake agreement with Global Tungsten & Powders, extending the term from 15 to 21 years and increasing the contracted volume by 40 percent. At current prices, the deal represents roughly US$490 million in potential revenue over its lifespan. Crucially, the contract covers about 90 percent of Sangdong’s Phase 1 production, locking in cash flows well into the late 2040s.
What to Watch in the Week Ahead
For Canadian-based shareholders, the immediate priority is the July 31 deadline. Those wishing to maintain their positions need to arrange for their holdings to be transferred to Nasdaq or Frankfurt before the TSX exit.
Almonty at a turning point? This analysis reveals what investors need to know now.
On the technical front, the C$18.00 level has emerged as a key support zone after the 200-day average was breached. A hold above that mark could signal stabilization, while a further breakdown would likely intensify selling pressure. Operationally, investors will be watching for updates on first concentrate production from Sangdong and progress at the Gentung project in Montana as the company’s center of gravity shifts toward the United States.
Almonty has laid two critical building blocks — a producing mine with long-term contracted revenue and a streamlined exchange structure — but the market’s near-term focus remains fixed on whether the stock can find its footing before the Toronto chapter closes.
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