Small-Cap Locks in Floor-Priced Tungsten Deal, Stock Jumps

Globe and Mail

07-05-2025

Ongoing global conflicts have prompted many nations to reassess their military capabilities and increase defense spending in response to today's complex geopolitical landscape. While peace remains the ideal, maintaining strong defense readiness is essential to addressing emerging security challenges.
This morning, Almonty Industries Inc. (TSX: AII) (OTCQX: ALMTF), a leading global producer of tungsten concentrate, announced the execution of a binding Offtake Agreement with Tungsten Parts Wyoming, Inc. (TPW), a U.S.-based defense contractor, and Metal Tech (MT), a tungsten processor based in Israel.
Under the agreement, TPW will purchase a minimum of 40 metric tons of tungsten oxide per month from Almonty. The material will be used exclusively in U.S. defense applications, including missile, drone, and ordnance systems. MT, the designated processor, will convert the tungsten oxide into tungsten metal powder either in Israel or the United States, with all processed material designated solely for TPW's defense production programs.
Deliveries will begin once Almonty commences commercial production of tungsten oxide. The agreement includes a hard floor price—aligned with existing benchmarks and subject to grade-specific adjustments—without any cap on potential upside. The initial term spans three years from the first delivery, with provisions for early termination and automatic annual renewals thereafter.
Lewis Black, CEO of Almonty, commented: 'This binding offtake agreement marks a major milestone for Almonty, securing predictable revenue through a defined floor price and long-term demand tied directly to U.S. defense programs. Beyond commercial certainty, this ensures our tungsten oxide is directed toward high-value, strategic applications—reinforcing Almonty's role as a key upstream supplier to the U.S. and allied defense supply chains. It reflects our ongoing commitment to aligning production with national security priorities while delivering sustainable value to shareholders. This also highlights yet another customer committed to our hard floor pricing terms as a condition of supply.'
This agreement strengthens Almonty's position as a strategic supplier of critical raw materials for national defense and highlights the integration of upstream resource production with allied manufacturing capabilities.
Investors are reacting to this news, sending shares of AII up 6.47% to $2.47 while U.S. listed shares (ALMTF) are currently up 5.13% at $1.782 in mid-day trading.
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