Almonty's TSX Exit and Expanded GTP Pact Signal a Leaner, More Focused Tungsten Play
Published on 07/21/2026 at 16:43 | Redaktion boerse-global.de
Almonty Industries is voluntarily delisting its common shares from the Toronto Stock Exchange effective July 31, 2026, a move that reflects where the tungsten producer's trading activity has already migrated. The company will concentrate its listing on the Nasdaq, where the bulk of its volume now flows under the ticker ALM. Canadian shareholders won't lose access — they can continue trading through brokers that offer Nasdaq connectivity — but the administrative savings from ending the dual listing are the real draw. Almonty expects to reduce compliance, listing, and overhead costs by focusing on a single exchange, a step that requires no shareholder approval given the existing liquid alternative.
The timing is no coincidence. Almonty simultaneously announced a 40% expansion of its supply agreement with GTP, lifting commitments to 4.41 million MTU. The beefed-up contract dovetails with a market environment where tungsten is gaining prominence as a strategic mineral. China still controls more than 80% of global tungsten production and refining, but Western defense contractors — including RENK Group and Boeing — are amassing multibillion-dollar backlogs that demand supply chains outside Beijing's orbit. The International Energy Agency's Global Critical Minerals Outlook 2026 underscored the urgency: the tungsten price has sextupled, while China deepened its refining dominance. The IEA warned that export controls could threaten production value chains worth $6.5 trillion outside China. Similar dynamics have sent cobalt prices up 130% after DRC restrictions and more than doubled lithium.
Beyond the macro backdrop, capital is flowing into non-Chinese tungsten assets. Australian billionaire Andrew Forrest recently acquired a 16.8% stake in EQ Resources from Oaktree Capital for roughly $190 million, sending that stock sharply higher. For Almonty, which already operates outside China, such investment signals growing institutional appetite for alternative supply sources — a tailwind that the expanded GTP deal locks in.
Should investors sell immediately? Or is it worth buying Almonty?
On the trading floor, the stock has been digesting a powerful run. After setting a 52-week high of C$33.35 in April, the shares pulled back sharply, falling 26.27% over the past 30 days. Yet at C$20.12 in the most recent session — a 3% gain on the day — the stock sits 5.6% above its 200-day moving average of C$19.05, suggesting the medium-term uptrend remains intact despite the short-term consolidation. The delisting decision comes as Almonty fortifies its operational base, and the market's focus is likely to stay on the underlying business: growing delivery volumes, a more favourable pricing environment for tungsten mined outside China, and a leaner corporate structure that lets investors trade where the real liquidity is.
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