Almonty Shares Surge on U.S. Media Spotlight and Operational Milestones

A feature broadcast on U.S. network CBS at the start of the trading week triggered significant momentum for Almonty Industries Inc., with its stock climbing more than 8% in early Monday trading. The report centered on the strategic importance of the company's Sangdong tungsten mine in South Korea for U.S. defense supply chains.

The catalyst was a segment titled "South Korean mine could soon supply the U.S. with a critical mineral," which aired on Sunday. The piece presented the Sangdong project as a potential future supplier of a critical mineral to the United States, featuring an interview with Almonty's Chief Executive Officer, Lewis Black, who detailed the mine's role within the current geopolitical landscape.

Tungsten, referred to as a "war metal" due to its essential use in ammunition and heat-resistant defense applications, was a focal point. The coverage underscored the mine's potential role in efforts to reduce a heavy reliance on Chinese supply sources.

Investors responded immediately at the market open, with intensified buying pressure driving the share price higher. By mid-session in European trading, the equity was up approximately 8.3%. The widespread media attention appears to have brought the investment narrative to a broader audience, particularly highlighting the geopolitical premium that markets are increasingly assigning to such projects.

December Delivers Key Operational and Financial Progress

Beyond the media push, the share price movement is supported by concrete operational and financial achievements announced this month:

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

• Commencement of Ore Extraction:
  On December 16, Almonty announced the start of commercial mining at Sangdong. The first truckload of ore was successfully delivered to the Run-of-Mine (ROM) pad, marking the project's official transition from the development phase into active operations.

• Project Financing Secured:
  Earlier in the month, on December 10, the company closed a fully subscribed public offering raising US$129 million. Subsequently, on December 15, Almonty voluntarily withdrew its base shelf prospectus. This signals that project funding is now in place and no near-term equity dilution from further capital raises is anticipated.

Positioning Within a Shifting Market

This positive price action aligns with a broader market re-rating of critical mineral producers operating in politically stable jurisdictions with visible production timelines. Historically characterized by significant price volatility, tungsten now sees valuations supported by "supply security" themes as Western nations actively seek alternatives to Chinese sources.

In this environment, Sangdong occupies a distinctive position. The project is expected to contribute a meaningful portion of non-Chinese global supply and is considered high-quality due to its ore grade. The equity offering at the month's start had been viewed as a key overhang on the stock. With financing completed, the market can now focus more directly on operational progress and positive developments like the CBS feature.

Upcoming Catalysts in Focus

With mining underway and a strengthened balance sheet, market attention turns toward the commissioning of the processing plant. Management aims to ramp up commercial production progressively toward 2026. For the coming months, two primary factors are seen as central price drivers: detailed updates on the processing circuit's commissioning and potential additional offtake agreements for uncommitted production volumes. From an analytical perspective, the positive December developments have mitigated key project risks, forming a foundation for the current revaluation.