Bears Flee as Almonty Industries Short Interest Craters Ahead of Sangdong Production
24.05.2026 - 05:43:54 | boerse-global.de
The short sellers betting against Almonty Industries are scrambling for the exits. Over the past month, short interest in the tungsten producer has plunged by 41%, with those still holding bearish positions paying a hefty price — the securities lending fee has surged to 5.78%, making short bets increasingly expensive. At current trading volumes, the remaining short positions could be covered in less than a single session, a stark measure of how quickly the tide has turned.
The stock itself has mirrored that momentum. On Friday, shares of Almonty jumped 7.63% to A$26.51, pushing the year-to-date gain to 100% and the 12-month return to an eye-popping 543%. The recent pullback in May, which rattled some investors, now looks like nothing more than a brief breather. The relative strength index sits just under 80, signalling intense — albeit overbought — buying pressure.
What has rattled the bears is not technical noise but a concrete catalyst. Almonty's Sangdong mine in South Korea, one of the largest tungsten deposits outside China, is transitioning from development into production. That shift could hardly come at a better time. Geopolitical tensions and Western rearmament programmes have driven export restrictions on critical minerals, and the price of ammonium paratungstate (APT) in Rotterdam is reflecting that scarcity. Analysts are bracing for a profit surge of more than 130% in the coming fiscal year.
Should investors sell immediately? Or is it worth buying Almonty IndustriesDRC?
The company's focus now turns to delivering operational proof. The next major milestone will be the release of production data from Sangdong's new phases, alongside details on the expansion of the Panasqueira mine in Portugal. Until those numbers land, the stock's massive run-up rests on promise rather than performance. Investors will also gather in Toronto in June for the annual general meeting, where routine items — the ratification of seven board members and reappointment of auditor Zeifmans LLP — are on the agenda.
For the near term, the technical picture offers both encouragement and caution. The stock closed the week just shy of its 50-day moving average of A$26.59, and the A$26.50 level now serves as a critical support line. Given the 90% annualised volatility, the name remains a high-octane holding. Whether the recovery is sustainable depends on whether the fundamentals can catch up to the fervour.
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