Movement Alert｜Almonty Industries Rises 11.09% in Regular Trading, Sangdong Tungsten Mine Enters Production Amid China Supply Concerns

Market Focus07-11

On July 11, Almonty Industries rose 11.09% in regular trading, trading at $16.32/share, with turnover of $74.30 million.

On the news front, the company officially announced on July 1 that processing plant operations commenced at its Sangdong tungsten mine in South Korea, marking the transition from construction to revenue-generating production. The facility has approximately 139,700 tonnes of stockpiled ore at a blended grade of about 0.3% tungsten trioxide, representing an illustrative gross in-process value of approximately $68 million at prevailing tungsten prices.

With China accounting for over 78% of global tungsten output and maintaining export controls, market appetite for non-Chinese tungsten supply sources continues to intensify. Multiple catalysts have converged, including the company's recent inclusion in the Russell 1000 and Russell 3000 indices, completion of an oversubscribed $700 million convertible notes offering generating net proceeds of $772.7 million, and Oppenheimer raising its price target to $25 while maintaining an Outperform rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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