Almonty Industries Faces a Technical Test as It Streamlines Exchange Listings and Ramps Up Production
Published on 07/25/2026 at 21:31 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is navigating a period of significant structural change, with its stock coming under pressure even as the company makes operational progress at its flagship Sangdong mine in South Korea. Shares closed at C$18.81 on Friday, shedding 5.52% on the day and slipping below the 200-day moving average of C$19.15 — a level traders often treat as a bellwether for long-term momentum. The weekly decline stands at 2.29%, while the monthly drop has deepened to 19.58%.
The pullback has been steep from the stock’s 52-week high of C$33.35, reached in mid-April, leaving the shares 43.60% below that peak. The relative strength index now sits at 38.8, edging toward oversold territory without having crossed the threshold. Yet the longer-term picture tells a different story: Almonty has still gained 55.84% since the start of the year and an eye-popping 211.42% over the past twelve months, meaning the stock has more than tripled despite the recent weakness.
Consolidating Three Exchanges Into Two
The share price weakness coincides with a deliberate reshaping of Almonty’s public market presence. The company received formal approval from the Australian Securities Exchange on July 23 to delist, with the exit from Sydney scheduled to be completed by September 1. Trading in the associated CHESS Depositary Interests will be suspended from August 28. Separately, Almonty is voluntarily withdrawing from the Toronto Stock Exchange, with the last day of trading set for July 31.
Should investors sell immediately? Or is it worth buying Almonty?
Management has cited low trading volumes and high ongoing costs as the rationale for the Australian exit, while the TSX departure reflects a broader shift in where investor demand is concentrated. The vast majority of daily turnover now flows through the Nasdaq, and the company intends to focus its listing efforts on that exchange and the Frankfurt Stock Exchange, cutting administrative and compliance expenses in the process. The corporate headquarters have also been relocated from Toronto to Dillon, Montana, aligning with Almonty’s strategy to position itself as a Western supplier of critical minerals for defense and advanced technology sectors.
A Major Shareholder Takes Profits
Adding to the near-term selling pressure, Deutsche Rohstoff AG, an SDAX-listed company that held a significant stake in Almonty, has sold part of its position. The move appears to be a classic case of profit-taking after the stock’s extraordinary run — Deutsche Rohstoff’s own shares jumped 17.3% in the week through July 25. While such a sale by a major shareholder does not necessarily signal a loss of confidence in the business, the additional supply hitting the market has likely contributed to the stock’s recent weakness.
Sangdong Moves From Development to Production
Operationally, the narrative is more constructive. Almonty officially began processing ore at the Sangdong mine on July 1, marking the transition from developer to producer. The facility is currently working through an ore stockpile of approximately 139,700 tonnes, built up through the end of June. The ramp-up is underpinned by a long-term offtake agreement with Global Tungsten & Powders, which was extended in mid-July to run for 21 years, stretching into the late 2040s. The revised deal increases contracted delivery volumes by 40%, providing revenue visibility that is rare among junior miners.
For investors, the near-term focus will be on two milestones: the end of TSX trading on July 31 and the continued ramp-up of Sangdong’s first production phase. The stock’s technical position suggests that further consolidation is possible, but the operational foundation — a producing mine with a multi-decade offtake contract and a streamlined exchange structure — offers a counterweight to the current market jitters.
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