Almonty Industries: Wolfram Producer's Multi-Exchange Exit Leaves Shareholders Digesting a Steep Slide
Published on 08/03/2026 at 07:21 | Redaktion boerse-global.de
The tungsten producer's decision to wind down its presence on two of the world's major exchanges has come at a visible cost to its share price. Almonty Industries wrapped up its final trading session on the Toronto Stock Exchange on Friday, July 31, 2026, closing at CAD 15.51 — a 4.96 percent drop on the day. But that single session proved to be merely the opening act of a more pronounced decline.
Over the past week, the stock has shed 17.50 percent, and the 30-day picture looks starker still, with the cumulative retreat now standing at roughly 30 percent. The slide has been driven by mechanics rather than operations. With the TSX delisting complete, Almonty was automatically removed from several benchmark indices, including the FTSE Global Small Cap Index. That, in turn, forced passive funds and ETFs with strict mandates to liquidate their positions by the final trading day, since they could no longer hold a security not listed on the exchange.
A second delisting step looms
Toronto is only half the story. Almonty has already secured approval to remove its CHESS Depositary Interests from the Australian Securities Exchange, with trading down under ending on August 28, 2026, and the formal delisting taking effect on September 1. The company will then operate with a dual listing on the Nasdaq Capital Market under the ticker ALM and on the Frankfurt Stock Exchange as ALI1. Management has framed the consolidation as a move toward more efficient trading structures and closer alignment with its US and European investor base.
The Australian exit could well trigger a similar wave of forced selling, as index-tracking funds adjust their holdings once again. Whether the technical pressure eases once that rebalancing is complete remains an open question for the weeks ahead.
Should investors sell immediately? Or is it worth buying Almonty?
Technical signals point to oversold conditions
The 14-day relative strength index has fallen to 32.7, hovering near the threshold that many traders interpret as oversold. The stock is also trading below both its 50-day and 200-day moving averages, underscoring the near-term fragility of the chart. While such readings are sometimes cited as a precursor to stabilization, they do not in themselves signal a reversal.
The longer-term picture, however, tells a different story. Despite the recent turbulence, the shares remain up 28.50 percent since the start of the year, and over a 12-month horizon the price has more than tripled. Those who entered in recent weeks, by contrast, are sitting on substantial paper losses, with the stock well off the 52-week high it reached in April.
Korean mine ramps up amid contract extension
While the share register reshuffles, the underlying business continues to move forward. The Sangdong tungsten mine in South Korea commenced production on July 1, 2026, and is now processing a run-of-mine inventory of roughly 139,700 tonnes into saleable tungsten concentrate. CEO Lewis Black underscored the strategic importance of Western tungsten supply in a shareholder letter dated August 2.
The company has also extended its offtake agreement with Global Tungsten & Powders by six years, increasing volumes by 40 percent. At current market prices, that contract alone is expected to generate annual revenues of around USD 490 million over the mine's 21-year lifespan.
Almonty at a turning point? This analysis reveals what investors need to know now.
Washington's tungsten plans add another variable
Beyond the delisting saga, attention is turning to a proposed US tungsten initiative that could reshape the market in which Almonty operates. Details on the scope and substance of the plan remain thin, making it difficult to assess the precise implications for the company. Given tungsten's status as a critical mineral, however, the development is likely to remain a focal point for investors in the coming months.
For now, the trading picture is defined by two competing forces: short-term technical selling tied to index exclusions, and a medium-term fundamental story anchored in the ramp-up at Sangdong and the broader strategic positioning of Western tungsten production. How those forces reconcile will become clearer once the final delisting step in Australia is behind the company and the forced selling has run its course.
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