Almonty Industries Streamlines Exchange Listings as Sangdong Mine Moves Toward Production
Published on 07/24/2026 at 18:31 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is entering a period of significant structural change, simultaneously winding down its presence on two stock exchanges while advancing operations at its flagship South Korean mine. The company’s shares will cease trading on the Toronto Stock Exchange this Friday, July 31, following a voluntary delisting request that was approved by the exchange. The move is part of a broader strategy to concentrate liquidity on the Nasdaq, where the stock trades under the ticker ALM, and the Frankfurt Stock Exchange.
The Australian Securities Exchange exit follows a slightly staggered timeline. Trading in Almonty’s CHESS Depositary Interests will be suspended after August 28, with formal removal from the ASX scheduled for September 1. The company cited negligible trading volumes in Australia as the primary rationale — daily turnover averaged just 30,058 CDIs, compared with combined daily volumes of 6.4 million shares on the Nasdaq and TSX. The CDIs represent only 0.80 percent of total outstanding shares, making the administrative and compliance costs of maintaining multiple listings difficult to justify from a shareholder perspective.
For investors holding CDIs on the ASX, several options exist. Positions can be sold on the exchange before August 28, converted into regular Nasdaq-listed shares, or left to be handled through a voluntary sale facility running from September 8 to November 6, followed by a compulsory sale facility from November 9 to December 9. Canadian shareholders whose stock traded on the TSX are advised to contact their brokers directly to arrange the transition to Nasdaq.
Sangdong Mine Enters Commissioning Phase
The exchange consolidation coincides with an operational milestone at Almonty’s Sangdong mine in South Korea. Processing began on July 1, and the facility is currently in a ramp-up phase. The company is working through a stockpile of approximately 139,700 tonnes of run-of-mine ore, valued at an estimated $68 million at current tungsten prices, to optimize throughput at the processing plant. The transition from commissioning to consistent production of saleable tungsten concentrate remains the critical near-term objective.
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Almonty has scheduled a market update for Monday, July 27, which is expected to provide detailed production figures from Sangdong. The update was the reason behind the trading halt on the ASX, which was imposed on July 23 at the company’s request. Investors will be watching closely for evidence that the mine is progressing toward stable output, as Almonty positions itself as one of the few Western producers of tungsten — a mineral for which China accounts for roughly 80 percent of global supply.
Capital Structure Adjustments
Alongside the exchange exits, Almonty has made two changes to its capital structure. On July 24, the company issued 62,518 common shares under a cleansing notice pursuant to Section 708A(5) of the Australian Corporations Act, confirming compliance with disclosure obligations for the newly issued stock. No details were provided on the purpose or proceeds of the issuance.
Separately, Almonty cancelled 66,667 unlisted options designated AIIABE after the conditions attached to them were not met. The cancellation took effect on July 20, with the announcement following on July 24. The options carried an exercise price of C$1.215 and would have expired in November 2029; no consideration was paid for their cancellation.
Following these adjustments, Almonty’s capital structure consists of 2,348,863 outstanding CDIs, 286,069,360 common shares, several additional option series, 4,000 warrants with an exercise price of C$1.71 expiring in January 2028, 800,004 convertible notes, 3,535,405 restricted share units, and 21,064 deferred share units.
Major Shareholder Trims Position
The restructuring of exchange listings comes during a period of share price weakness. Almonty’s stock has declined nearly 15 percent over the past 30 days and trades roughly 40 percent below its 52-week high of C$33.35 reached in April. Despite the recent pullback, the shares remain up approximately 230 percent year-to-date.
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Adding to the selling pressure, major shareholder Deutsche Rohstoff AG sold 5 million Almonty shares at around $16 per share, booking a significant pre-tax profit on the transaction. The German resource company retains approximately 5.5 million shares, indicating a partial exit rather than a complete divestment.
The upcoming market update on Monday will provide the clearest picture yet of whether Sangdong’s ramp-up is on track. For investors, the production numbers will likely determine how the market interprets the parallel consolidation of trading venues — a move that reduces administrative overhead but also removes two listing venues that, however thinly traded, provided additional access points for shareholders.
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