Almonty Industries Sees a 40% Pullback From Its Peak as the Transition From Promoter to Producer Gets Under Way
Published on 07/23/2026 at 17:53 | Redaktion boerse-global.de
The moment investors had been waiting for at Almonty Industries has finally arrived — and the market’s response has been anything but celebratory. Since the company’s Sangdong tungsten deposit in South Korea began processing ore on July 1, the stock has slid sharply, shedding 40.66 percent from its 52-week high of C$33.35, hit on April 17. On Wednesday alone, the shares fell 4.87 percent to C$20.12, and the current price of C$19.79 represents a 1.64 percent decline for the trading session.
The pattern is a textbook case of “buy the rumor, sell the news.” For years, Almonty was a story stock — a bet on a giant, dormant tungsten deposit that promised to reshape non-Chinese supply chains. Now that the promise is becoming operational reality, early speculators are cashing out. Over the past 30 days, the stock has dropped 23.32 percent, and the monthly decline stands at 22.05 percent. The 14-day relative strength index has settled at 41.6, well off the overheated levels of spring and firmly in neutral territory.
The long-term picture, however, remains striking. On a 12-month basis, Almonty shares have gained 224.43 percent, and the year-to-date advance is 66.69 percent. The stock currently trades just 3.52 percent above its 200-day moving average of C$19.12, a level that is emerging as a key floor for the company’s market capitalization of €3.45 billion. The annualized volatility of 81.16 percent underscores just how much turbulence remains baked into the name.
A Strategic Asset in a Supply-Constrained World
What makes Sangdong more than just another mining project is its geopolitical significance. China controls over 80 percent of global tungsten supply, and Western defense industries are increasingly barred from sourcing Chinese material. Almonty’s South Korean mine is designed to fill 40 percent of non-Chinese demand, making it a critical link in allied supply chains. A 21-year offtake agreement locks in fixed sales volumes, and tungsten prices in Rotterdam remain near record levels amid persistent supply tightness.
Should investors sell immediately? Or is it worth buying Almonty?
While all eyes are on Korea, the company’s existing operations in Portugal are quietly providing a financial cushion. First-quarter 2026 revenue rose to C$25.4 million, driven primarily by the Panasqueira mine. That cash flow from Europe helps buffer the balance sheet as Sangdong’s ramp-up phase continues.
The TSX Exit and a Major Shareholder’s Partial Exit
Adding to the near-term noise, Almonty is voluntarily delisting from the Toronto Stock Exchange at the close of trading on July 31. The move requires no shareholder approval under Subsection 720(b) of the TSX Company Manual. The rationale is straightforward: the bulk of daily trading volume has already migrated to the Nasdaq, and maintaining a dual listing carries administrative and regulatory costs that no longer make sense. Canadian retail investors will still be able to trade through brokers that support Nasdaq access, and the company’s secondary listings in Frankfurt and on the Australian Securities Exchange remain unaffected.
The delisting itself is unlikely to be a major driver of the stock’s recent weakness. A more tangible factor is the partial exit of Deutsche Rohstoff AG, a longtime anchor shareholder that has realized a €65 million profit by reducing its stake. That selling pressure has added to the supply of shares in the market at a time when sentiment is already cooling.
Almonty at a turning point? This analysis reveals what investors need to know now.
What Comes Next
The speculative phase of Almonty’s story is over. The question is no longer whether Sangdong will produce, but how quickly the operation can achieve the scale and cost efficiencies that justify a multibillion-dollar valuation. The stock’s recent pullback has erased the froth from the spring rally, but the underlying thesis — a strategically irreplaceable tungsten asset in a supply-constrained world — remains intact. For patient investors, the next chapter is about execution, not expectation.
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Almonty Stock: New Analysis - 23 July
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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