Almonty Industries: A Wolfram Producer’s Stock Price Takes a Beating as Exchange Exits Trigger Forced Selling
Published on 07/29/2026 at 22:22 | Redaktion boerse-global.de
The timing could hardly be more awkward. Almonty Industries has just switched on the processing plant at its flagship Sangdong mine in South Korea, marking the company’s transition from project developer to revenue-generating tungsten producer. Yet the stock is tumbling as if the news were a disaster.
Shares of the Toronto-headquartered miner closed at C$15.44 on Wednesday, a one-day drop of 10.34%. Over the past seven trading sessions, the decline has reached 23.26%, and the one-month slide stands at 32.61%. From its 52-week high of C$33.35 set in April, the stock has now retreated 53.70%.
The culprit is not operational — it is entirely structural. Almonty is voluntarily delisting from the Toronto Stock Exchange, effective at the close of trading on July 31, 2026. That decision has triggered a wave of forced selling by institutional funds whose mandates require TSX-listed holdings. With the order book already thin, each wave of compulsory liquidation pushes the stock lower.
A Second Exit Looms
The TSX departure is not the only exchange the company is leaving. Almonty has also initiated the formal one-month notice period for its voluntary delisting from the Australian Securities Exchange. All CDI holders have received written notification, and the company has laid out two clear options: sell their holdings on the ASX by August 28, or convert their CDIs into ordinary shares that would trade on either the Nasdaq or in Frankfurt.
Should investors sell immediately? Or is it worth buying Almonty?
The ASX delisting is expected to be completed by September 1. Once both exits are final, Almonty’s trading will be concentrated on the Nasdaq (ticker: ALM) and the Frankfurt Stock Exchange (ALI1). The company has cited cost savings from consolidating what were four parallel listings as the rationale.
The ASX listing had already become largely symbolic. In mid-July, trading volume on the exchange represented less than 1% of outstanding shares.
Technical Damage Is Mounting
The forced selling has inflicted clear technical damage. The stock now sits 19.71% below its 200-day moving average of C$19.23 — a breach that often triggers automated sell programs and amplifies short-term downward pressure. The 14-day relative strength index has fallen to 30.3, approaching oversold territory.
Tuesday’s session saw the stock lose 8.40%, closing at C$17.22. That put the price 10.36% below its 200-day average of C$19.21 at the time, a break of long-term technical support.
Despite the recent carnage, the longer-term picture tells a different story. The stock is still up 27.92% year-to-date, and over the past 12 months it has gained 228.51%. From the 52-week low of C$4.36, the current correction looks more like a violent re-rating than a collapse of the investment thesis.
Sangdong’s Milestone Arrives
Amid the delisting noise, Almonty achieved what it calls the most important operational milestone in company history. The processing plant at Sangdong began operations on July 1, transitioning the project from development into active production of tungsten concentrate.
The first phase of the mine is designed for an annual processing capacity of 640,000 tonnes of ore. Almonty has secured a 21-year offtake agreement with Global Tungsten & Powders, which at current ammonium paratungstate prices is expected to generate substantial annual revenue. The contract covers roughly 90% of future production — a level of long-term revenue visibility that is rare in the mining sector.
Almonty at a turning point? This analysis reveals what investors need to know now.
A Major Shareholder Trims
The shareholder register has seen some movement. Deutsche Rohstoff AG recently sold 5 million Almonty shares at an average price of around US$16. The German investment firm remains a significant holder with approximately 5.5 million shares, plus convertible bonds and loans that remain outstanding.
The Outlook: Noise With an Expiration Date
For longer-term investors, the key question is whether Sangdong’s revenue stream will ultimately outweigh the friction costs of the exchange consolidation. The forced selling from TSX-mandated funds has a clear end date: July 31. After that, the mechanical pressure should ease.
Tungsten is classified as a critical raw material with heavy supply concentration in China, giving Almonty a geopolitical tailwind that few mid-cap miners can claim. The shift from multiple listings to a streamlined Nasdaq-Frankfurt structure is painful in the short term but points toward a leaner, more efficient capital structure.
Until the forced selling runs its course, the stock will remain under pressure — regardless of the fact that the company has just become an active producer with a 21-year offtake deal in hand.
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Almonty Stock: New Analysis - 29 July
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