Almonty Industries: Major Shareholder Books €65 Million Gain as Tungsten Producer Prepares for Dual Delisting
Published on 07/25/2026 at 12:12 | Redaktion boerse-global.de
The tungsten miner Almonty Industries is navigating a period of significant structural change, marked by the planned departure from two of its stock exchange listings and a substantial profit-taking move by one of its cornerstone investors. The Deutsche Rohstoff AG has sold five million Almonty shares at roughly $16 per share, generating a pre-tax profit of approximately €65 million. The German resource company still retains a holding of 5.5 million shares in the Canadian-headquartered miner.
The timing of this sale, which coincided with Almonty’s announcement that it will delist from the Toronto Stock Exchange at the close of business on July 31, has added a layer of short-term uncertainty to the stock’s trajectory. Such a move by a long-term institutional holder is often interpreted in two ways: as validation of a highly successful multi-year investment, but also as a potential signal that further supply could hit the market if other early backers follow suit. The Deutsche Rohstoff AG has used the proceeds to bolster its own outlook, lifting its 2026 EBITDA forecast from a range of €290-310 million to roughly €365 million, while keeping its revenue projection unchanged at €260-280 million.
A Two-Stage Exit from Toronto and Sydney
Almonty’s retreat from the TSX on July 31 is the first step in a broader consolidation of its trading venues. The company has cited the migration of the bulk of its daily trading volume to the Nasdaq as the primary reason, with fewer listings expected to reduce compliance costs and reporting burdens. The second leg of the process will see Almonty exit the Australian Securities Exchange, with trading in CHESS Depositary Interests suspended on August 28 and a final delisting on September 1.
Once both processes are complete, Almonty’s shares will trade on just two exchanges: the Nasdaq under the ticker ALM and the Frankfurt Stock Exchange under ALI1. Canadian and Australian investors will generally retain access to their holdings through international brokerage accounts.
Should investors sell immediately? Or is it worth buying Almonty?
Sangdong Mine Moves into Production
The corporate restructuring comes alongside an operational milestone that had been long anticipated. On July 1, Almonty began processing at its Sangdong mine in South Korea, transitioning the facility from development into active production of saleable tungsten concentrate. The company also secured an extended supply agreement with Global Tungsten & Powders, a subsidiary of the Plansee Group, which now runs for 21 years and includes a 40% increase in contracted delivery volumes.
Following the news, Sphene Capital raised its price target on the stock to C$38.90 on July 20. However, the share price has not responded in kind. Almonty closed at C$19.91 on Friday, down 1.04% on the day, and sits roughly 40% below its 52-week high of C$33.35, which was reached on April 17. The stock has also slipped below its 50-day and 100-day moving averages, while the relative strength index stands at 42, indicating a neutral-to-cooled market sentiment.
A Broader Context of Strategic Demand
Despite the recent pullback, Almonty’s longer-term performance remains striking. The stock has gained 229.64% over the past twelve months and is still up 55.84% year-to-date, buoyed by record tungsten prices and the growing strategic importance of non-Chinese supply chains for Western defense and armament industries. Some market observers maintain a price target of C$27.80, implying meaningful upside from current levels, contingent on a smooth transition to the new listing structure and continued operational execution at Sangdong.
Almonty at a turning point? This analysis reveals what investors need to know now.
For investors, the next concrete test will be the completion of the TSX delisting on July 31, followed by the ASX exit in early September. The fundamental thesis — centered on a newly operational mine, a long-term offtake agreement, and a tightening global tungsten market — remains intact, even as the near-term noise around exchange consolidation and insider selling creates turbulence in the share price.
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