Almonty Raises $800M via Convertible Note, Taps Ex-Deutsche Bank Analyst as CFO Ahead of Russell 1000 Inclusion
13.06.2026 - 13:32:53 | boerse-global.de
Almonty Industries is closing out June with two powerful tailwinds: a freshly closed $800 million convertible note placement and an imminent promotion to the Russell 1000 index. The tungsten producer has also reshuffled its C-suite, appointing a former Deutsche Bank analyst as chief financial officer as the company races to scale up its flagship Sangdong mine in South Korea.
The private placement was heavily oversubscribed, prompting the lead managers to exercise the full greenshoe option for an additional $100 million. After deducting fees, net proceeds amount to roughly $773 million. The notes carry a 2.25% annual coupon, mature in July 2031, and are convertible at approximately $27.40 per share — a 32.5% premium over the reference close on June 4. To cap shareholder dilution upon conversion, Almonty used about $83 million of the proceeds to buy a capped-call transaction with a ceiling of $41.36 per share, representing a 100% premium over the same reference price.
The bulk of the fresh capital will go toward expanding the Sangdong mine. Phase 1 is already processing 640,000 tonnes of ore annually into tungsten concentrate, and Phase 2 — expected to begin in 2027 — will double that capacity. The remainder will be used for general working capital and potential acquisitions.
On the leadership front, Jorge Beristain steps into the CFO role, bringing experience from Ryerson Holding and a background as a Deutsche Bank equity analyst. His mandate is to guide the company’s finances as Sangdong transitions from development to full commercial production. At the recent annual general meeting, shareholders showed overwhelming support for the board’s strategic direction, re-electing all seven directors with more than 99% of votes cast. The board’s composition is heavily oriented toward US defense policy expertise, reflecting Almonty’s strategic pivot to supply Western defense contractors with tungsten outside of China’s control.
Should investors sell immediately? Or is it worth buying Almonty?
That geopolitical tailwind is set to strengthen from 2027, when tightening US military procurement rules will require alternatives to Chinese-sourced tungsten. Almonty’s production timeline is calibrated precisely to that regulatory shift, positioning Sangdong as a secure, non-Chinese source of the strategic metal.
The Russell 1000 index inclusion takes effect on June 29, placing the stock on the radar of institutional investors managing trillions of dollars in passive assets. That demand arrives just as the company’s operational and financial infrastructure is being upgraded from scratch.
Shares closed the week at C$24.75, up roughly 9% on the week. The stock has more than doubled year-to-date and is up an eye-popping 428% over the past 12 months. Still, it remains about 26% below its April peak of C$33.35. With annualized volatility north of 100%, the ride has been anything but smooth. The relative strength index sits at 47.5 — a neutral reading after the recent bounce — and analysts peg a target price of C$25.00, barely above current levels.
Almonty at a turning point? This analysis reveals what investors need to know now.
The convergence of a new CFO, a fully funded balance sheet, and an index membership means Almonty enters the second half of 2026 with a fundamentally different profile than it carried at the start of the year. The next critical test is whether Sangdong can deliver the output volumes its financing promises.
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Almonty Stock: New Analysis - 13 June
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
