Almonty Industries: Wolfram Producer's Delisting Marathon Tests Investor Patience
Published on 08/01/2026 at 13:53 | Redaktion boerse-global.de
The tungsten miner Almonty Industries is closing out a turbulent week with a familiar refrain: another exchange departure, another slide in the share price. The company's stock fell 4.96 percent on Friday to 15.51 Canadian dollars, capping a seven-day stretch that has wiped 15.58 percent off the equity. Over the past month, the decline has deepened to 30.29 percent, leaving the shares trading 53.49 percent below the 52-week high of 33.35 CAD set in mid-April.
The selling pressure traces back to a structural overhaul rather than any deterioration in the underlying business. Almonty has spent the past several months unwinding its multi-listing strategy, arguing that the bulk of daily trading volume has migrated to the Nasdaq and that maintaining secondary listings no longer justifies the administrative and compliance overhead. The Toronto Stock Exchange delisting was completed on July 31, and the Australian Securities Exchange exit is now fully approved, with trading in CDI interests ending August 28 and the formal delisting taking effect September 1, 2026.
Australian shareholders face a clear-cut choice before the deadline: sell their holdings on the ASX or convert them on a 1:1 basis into Nasdaq shares. Those who miss that window can still offload positions through a voluntary sale facility running from September 8 to November 6, 2026. Once the process is complete, Almonty's equity will trade primarily on the Nasdaq, supplemented by a Frankfurt listing.
The market's reaction to this consolidation has been unforgiving. The stock now sits 31.01 percent below its 50-day moving average of 23.02 CAD, and the 14-day relative strength index has fallen to 33.5, edging toward oversold territory. A separate reading puts the RSI at 32.7. Either way, the technical picture suggests the correction may be running out of steam. The annualized volatility over the past 30 days stands at roughly 89 percent, a figure that captures both the operational uncertainties of a mine ramp-up and the mechanical selling tied to the listing changes.
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What the short-term charts obscure is the scale of the longer rally. Twelve months ago, on July 31, 2025, the shares were changing hands at 4.96 CAD. Even after the recent pullback, the stock is up 205.92 percent over the trailing year, and it has gained 31.57 percent since the start of 2026. The gap between the immediate pressure and the longer trajectory could hardly be wider.
Operationally, the company is delivering on a promise that has anchored its bull case. Since July 1, the processing facility at the Sangdong mine in South Korea has been running throughput operations on stockpiled ore, marking the transition from development project to active tungsten concentrate producer. Phase 1 commissioning is underway, with the plant initially processing stored material before scaling toward full capacity.
That milestone is backed by a significantly expanded offtake agreement with Global Tungsten & Powders, a partnership dating back to 2018. The contract has been extended by six years to a 21-year term from first delivery, with contracted volumes rising 40 percent and prices improving by roughly 6.3 percent. Almonty expects the enhanced terms to add at least 30 million US dollars in annual contract income, translating to projected total revenues of 490 million US dollars over the full 21-year period. The agreement covers approximately 90 percent of Phase 1 tungsten concentrate output from Sangdong, underscoring the mine's role in establishing a stable supply chain outside China.
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The coming weeks will test whether the operational momentum from South Korea can offset the technical damage inflicted by the exchange exits. The ASX delisting wraps up at the start of September, and the market's attention will then shift squarely to Sangdong's production data as Phase 1 ramps toward nameplate capacity. For a stock that has swung from penny territory to a triple-digit annual gain, the next chapter hinges on whether output figures can finally outshout the noise of the delisting calendar.
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
