Almonty’s Earnings Breakthrough Marks a New Chapter for Western Tungsten Independence
22.05.2026 - 21:11:49 | boerse-global.de
Almonty Industries has crossed a critical threshold, transforming from a development-stage miner into a cash-generating producer. The company’s first-quarter results, released alongside the formal start-up of its Sangdong tungsten mine in South Korea, show revenues more than tripling and operating cash flow flipping into positive territory for the first time — a milestone that underscores its ambition to break China’s stranglehold on the global tungsten supply chain.
Revenue for the three months ended March 31 jumped 221 percent to 25.4 million Canadian dollars, while operating cash flow reached 9.7 million dollars, a sharp reversal from the negative 4.4 million dollars recorded in the same quarter a year earlier. The company’s adjusted EBITDA also swung into the black, climbing to 6.13 million US dollars from a loss of 2.37 million US dollars in the year-ago period. Despite the operational turnaround, Almonty posted a net loss of 5.26 million dollars. Cash and equivalents stood at roughly 260 million dollars, providing ample runway for the ramp-up ahead.
The Sangdong mine, officially commissioned in March 2026, is at the heart of Almonty’s strategy. The first phase of development can process about 640,000 tonnes of ore per year, and a second expansion phase is already on the drawing board. At full build-out, the project is expected to supply roughly 40 percent of global tungsten demand from sources outside China. Tungsten is classified as a critical mineral due to its use in aerospace, semiconductors, and defence equipment, making the mine a strategic asset for Western buyers seeking alternatives to Chinese dominance.
Should investors sell immediately? Or is it worth buying Almonty?
To tighten its ties with the US defence and industrial base, Almonty relocated its corporate headquarters from Toronto to Dillon, Montana, bringing it closer to key government agencies, Pentagon partners, and industrial customers. The move aligns with the company’s goal of building a fully Western, vertically integrated tungsten supply chain.
Investors have rewarded the progress handsomely. The stock has surged more than 111 percent since the start of the year and is up roughly 600 percent over the past twelve months. In Canadian dollar terms, the shares trade at 25.36 dollars; in US dollar terms, the price stood at 18.70 dollars on May 21, giving the company a market capitalisation of about 5 billion dollars. Analysts remain bullish. DA Davidson set a price target of 25 US dollars, B. Riley Financial raised its target to 23 US dollars, and Texas Capital recently upgraded the stock to “Strong Buy.” The average analyst target sits at 18.38 US dollars, with a wide range from 6.50 to 25.00 dollars, reflecting both the high conviction and the risk of execution.
The next major test comes on August 20, 2026, when Almonty reports second-quarter results. By then, the market will expect tangible evidence that Sangdong can sustain commercial production at the volumes promised. If the mine delivers, the narrative of a Western tungsten champion will shift from aspiration to reality.
Ad
Almonty Stock: New Analysis - 22 May
Fresh Almonty information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
