Almonty Industries

The Almonty Industries share rose about 8.8% on the NASDAQ after the announcement of a buyback program of up to 14.4 million shares (up to USD 300 million), strong quarterly results and a Jefferies buy rating. In Q2 2026 revenue increased 498% to CAD 43.0 million, net income was CAD 181.8 million and cash reserves grew to CAD 1.2 billion. Operationally, Almonty has moved the Sangdong mine in South Korea into commercial processing and plans a phase-II expansion; this strengthens the company’s position in a tungsten‑tight market that is heavily dominated by China. » Mere på finanzen.net

Almonty has extended the offtake agreement with Global Tungsten & Powders for tungsten concentrate from the Sangdong mine from 15 to 21 years and increased the total volume by 40% from 3.15 to 4.41 million MTU. A contractual minimum volume of 210,000 MTU per year was agreed, and the price terms raise expected revenue per MTU by 6.3%. At current prices Almonty expects additional annual revenue of around USD 30 million and a total contract value of about USD 490 million; the contract covers around 90% of Phase I production. » Mere på de.investing.com

Almonty Industries shares surged after Oppenheimer raised its price target from $7 to $12 and maintained an "Outperform" rating. Almonty aims to triple tungsten production to about 2.4 million tonnes by 2027, with the Sangdong mine in South Korea playing a central role and potentially supplying up to roughly 40% of Western supply at full capacity. At the same time, Almonty has launched legal action against Pure Tungsten, seeking an injunction over allegedly false and misleading statements about the company. Investors should monitor both tungsten price developments and the outcome of the lawsuit. » Mere på finanzen.net