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Stock impact report

Almonty Industries (ALM) Jumps 28% on Tungsten Optimism [Yahoo! Finance]

Almonty Industries Inc. - Common Shares (ALM) 
Company Research Source: Yahoo! Finance
Almonty Industries grew its share prices by 28.25 percent week-on-week, hitting a new all-time high, as investors took heart from the company's highly optimistic outlook for its tungsten business amid a limited global supply of the said metal. In a letter to investors, Almonty Industries Inc. (NASDAQ:ALM) Chairman, President, and CEO Lewis Black announced that the company is planning to advance the Sangdong tungsten mine in South Korea toward full-scale phase 1 commercial operations, to be followed by a phase 2 expansion in 2027. Photo from Almonty Industries website Upon completion, Almonty Industries Inc. (NASDAQ:ALM) expects the site to produce 460,000 MTU annually. The Sangdong mine is expected to be one of the largest and longest-life tungsten mine sites outside of China, positioning the company as a cornerstone supplier to Western markets. “We have secured binding hard floor offtake agreements, including long-term commitments to supply tungsten oxide for US defense ap Show less Read more
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