Almonty Industries Reaches a Pivotal Milestone as Production Commences

The market is reappraising Almonty Industries. The company's critical transition from a project developer to an active producer is now complete, a shift that financial markets are recognizing with rising share prices and elevated trading volumes. Trading around $9.10, the equity's advance is supported by three core developments: the tangible start of production in South Korea, secured financing, and crucial clarifications regarding its shareholder base.

Growth is now backed by solid capital. A financing round concluded in December 2025 injected approximately $129.4 million into the company. These funds are allocated for ramping up production to full capacity at the Sangdong mine, effectively eliminating near-term liquidity concerns. With a fortified balance sheet, the focus shifts entirely to operational execution and meeting delivery schedules.

Crucially, future revenue streams are not speculative but are underpinned by binding offtake agreements with established industrial partners:

• SeAH M&S (South Korea): A lifetime offtake agreement covers 100% of the mine's molybdenum production. This guarantees immediate cash flow for this significant by-product.
• Tungsten Parts Wyoming (USA): A contract with this U.S. defense supplier is in place for a minimum of 40 tonnes of tungsten oxide per month. This deal highlights the strategic importance of establishing a tungsten supply chain independent of China for the defense industry.

Operational Launch: From Blueprint to Reality

The primary catalyst for the current momentum is the operational commencement at the Sangdong tungsten mine in South Korea. On December 16, 2025, the company announced the first delivery of ore to the processing plant.

Should investors sell immediately? Or is it worth buying Almonty?

This milestone officially moves one of the largest tungsten deposits outside of China into its commercial phase. For investors, this fundamentally alters the risk profile: the technical risks of mine construction have given way to the concrete prospect of generating cash flow. Almonty is now positioned as a strategic supplier of critical minerals to Western markets.

Clarification on Major Shareholder Position

Recent market movements have also been influenced by an important clarification concerning the major shareholder, Deutsche Rohstoff AG. A recent regulatory filing showed its stake at 7.97%, which initially raised questions.

However, this does not represent a sale of shares. Deutsche Rohstoff AG has not divested any holdings and continues to own over 20.4 million shares. The percentage decrease is solely a mathematical result of share dilution following the substantial capital increase in December 2025. Consequently, institutional confidence in the long-term trajectory appears to remain intact.