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Globe and Mail
17-05-2025
- Business
- Globe and Mail
Almonty Enters into Binding Offtake Agreement to Supply Tungsten Oxide Solely for U.S. Defense Applications
Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) ('Almonty' or the 'Company'), a leading global producer of tungsten concentrate, today 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 has committed to purchase a minimum of 40 metric tons of tungsten oxide per month from Almonty. All material supplied under the agreement is to be exclusively used in U.S. defense applications, including use in missile, drone, and ordnance systems. MT, acting as the designated processor, will convert the tungsten oxide into tungsten metal powder in Israel or the United States, with all processed material intended solely for TPW's U.S. defense production programs. Deliveries will commence upon Almonty's initial production of tungsten oxide in commercially saleable quantities and will be subject to a hard floor price comparable with in-place existing floor prices, subject to grade-specific adjustments in accordance with the terms of the agreement, and with no cap on the upside. The agreement has an initial term of three years from the date of first delivery, subject to early termination, with automatic annual renewals thereafter. Lewis Black, Chief Executive Officer of Almonty, said: 'This binding offtake agreement represents a significant milestone for Almonty, securing both predictable revenue through a defined hard floor price and long-term demand tied directly to U.S. defense programs. Beyond commercial certainty, the agreement ensures that our tungsten oxide will serve a strategic, high-value end-use – reinforcing Almonty's position as the key upstream supplier to the defense supply chain of the U.S. and its allies. It reflects our broader commitment to aligning production with national security priorities while delivering sustainable value to my fellow shareholders and is another customer of Almonty who is happy to commit to our hard floor pricing terms as a condition of supply.' This agreement further positions Almonty as a strategic supplier of critical raw materials for national security and underscores the integration of an upstream supply with allied defense manufacturing capabilities. About Almonty Almonty Industries Inc. is a diversified and experienced global producer of tungsten concentrate in conflict-free regions. The company is currently mining, processing and shipping tungsten concentrate from its Panasqueira mine in Portugal. Its Sangdong tungsten mine in Gangwon Province, South Korea is currently under construction. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, and has significant upside potential from an underlying molybdenum deposit. Additional development projects underway include the Valtreixal tin/tungsten project in northwestern Spain and Los Santos Mine in western Spain. Further information about Almonty's activities may be found at and under Almonty's profile at Legal Notice The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology. Forward-looking information or statements in this press release include matters relating to the quantity of tungsten oxide to be purchased under the Offtake Agreement and the price at which such purchases will be made, the applications in which the purchased tungsten oxide will be used, the processing of the tungsten oxide, the time at which deliveries are expected to commence, the term of the Offtake Agreement and the anticipated benefits of the Offtake Agreement for Almonty. These statements and information are based on management's beliefs, estimates and opinions on the date that statements are made and reflect Almonty's current expectations. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate ("APT") from which the sale price of Almonty's tungsten concentrate is derived, the risk that the Offtake Agreement may be terminated in accordance with its terms before the end of its initial term, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty's operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty's business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty's shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development, production and operations at Almonty's tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty's mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty's mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, and challenges related to global financial conditions. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of APT, the continuing ability to fund or obtain funding for outstanding commitments, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on Almonty's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, Almonty does not undertake any obligation to publicly update any forward-looking statements.
The Market Online
15-05-2025
- Business
- The Market Online
Almonty Industries: A smart play on Western tungsten independence
In a bold move that ties critical minerals to national defense, a leading tungsten producer with operations in Portugal and soon South Korea, has secured a game-changing offtake agreement that positions it as a cornerstone of Western tungsten independence—and a rising star on the global investment radar. Almonty Industries (TSX:AII) has taken a significant step forward in securing its future revenue stream and strategic relevance. In early May 2025, the company announced a binding three-year offtake agreement with Tungsten Parts Wyoming (TPW), a U.S. defense contractor, and Metal Tech, a tungsten processor based in Israel. Under the agreement: TPW will purchase a minimum of 40 metric tons of tungsten oxide per month , to be used in critical defense applications such as missiles, drones, and ordnance systems . , to be used in critical defense applications such as . Metal Tech will process the tungsten oxide into metal powder in either Israel or the U.S., tailored to TPW's specifications. will process the tungsten oxide into metal powder in either Israel or the U.S., tailored to TPW's specifications. The deal includes a competitive hard-floor price with no cap on the upside, offering Almonty both downside protection and exposure to rising tungsten prices. Deliveries are expected to begin once Almonty reaches commercial production at its Sangdong mine in South Korea, projected for 2027–2028. A Western answer to Chinese dominance China currently controls approximately 90 per cent of global tungsten production, a dominance that poses a strategic risk to Western industries. Almonty's Sangdong mine, one of the largest tungsten deposits outside China, is poised to become a critical alternative source. With geopolitical tensions rising and raw materials increasingly weaponized, Almonty's conflict-free supply from Portugal, South Korea, and Spain offers a secure and stable alternative. The company is already seeing demand outstrip supply, with Lewis Black, Almonty's chief executive officer noting that many interested buyers will have to wait their turn. 'This binding offtake agreement represents a significant milestone for Almonty, securing both predictable revenue through a defined hard-floor price and long-term demand tied directly to US defense programs,' CEO Black explained in a statement. 'Beyond commercial certainty, the agreement ensures that our tungsten oxide will serve a strategic, high-value end-use – reinforcing Almonty's position as the key upstream supplier to the defense supply chain of the US and its allies. It reflects our broader commitment to aligning production with national security priorities, while delivering sustainable value to my fellow shareholders and is another customer of Almonty who is happy to commit to our hard-floor pricing terms as a condition of supply.' NASDAQ listing: Unlocking U.S. capital markets Almonty is preparing for a NASDAQ listing, a move that could significantly enhance its visibility and valuation. The company has already secured shareholder approval for a share consolidation, a key step toward meeting NASDAQ's listing requirements. Why NASDAQ matters Increased liquidity and access to a broader investor base. and access to a broader investor base. Enhanced credibility among institutional investors and U.S. defense stakeholders. among institutional investors and U.S. defense stakeholders. Potential for re-rating: Almonty's current market cap is around USD 500 million, while MP Materials (NYSE:MP), a comparable rare earths producer, is valued at USD 4 billion. The listing is expected to be a major catalyst for the stock, especially as U.S. investors seek exposure to critical minerals aligned with national security interests. 'Listing on NASDAQ provides access to an extensive global investor base including many institutional investors, which are many times prohibited from investing on various other exchanges. This increased visibility and credibility can materially enhance liquidity and facilitate more streamlined capital raising activities,' Hunter Diamond, CFA Diamond Equity Research said. 'The recent offtake agreement is a significant event for shareholders, as this agreement increases the predictability of revenue and cash flows -key drivers of investor confidence,' he continued. 'The acceptance of a floor pricing model in the critical defense supply chain of the U.S. signals the confidence the buyer has in the long-term delivery capacity and quality of the asset.' Stock performance and outlook Current price : C$2.35 : C$2.35 1-year return : +262.5 per cent : +262.5 per cent Since 2020: +337.74 per cent With production at Sangdong imminent, a NASDAQ listing on the horizon, and a strategic offtake agreement in place, Almonty is in a stable position for continued growth. A strategic raw material, a smart investment Almonty Industries is more than a mining company – it's a strategic asset in the West's effort to secure critical mineral independence. The recent offtake agreement with TPW and Metal Tech points to its role in the defense supply chain, while the upcoming NASDAQ listing could unlock significant shareholder value. For investors, the message is clear: those who control tungsten will control the future of defense and technology. Almonty offers a rare opportunity to invest early in a company at the intersection of geopolitics, national security, and resource scarcity. Join the discussion: Find out what everybody's saying about this tungsten mining stock on the Almonty Industries Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Disclosure: Diamond Equity Research LLC is being compensated by Almonty Industries, Inc. for producing research materials regarding Almonty Industries, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. Publicly disclosed fees in accordance with SEC rule 17(b) can be found on our disclosure page. This is sponsored content issued on behalf of Almonty Industries Inc., please see full disclaimer here.
The Market Online
15-05-2025
- Business
- The Market Online
Another 150%+ with Almonty stock? US defense industry and NASDAQ listing drive revaluation of the tungsten gem!
The revaluation of Almonty (TSX:AII) shares is progressing excellently and gaining new momentum. After rising over 150 per cent within six months, the tungsten gem has consolidated healthily in recent weeks. However, there are good reasons to expect further price increases: China is using tungsten as a weapon in the geopolitical power struggle. The latest major order for Almonty from the US shows how urgently defense companies – but also other key industries – need this critical metal. An upcoming NASDAQ listing is expected to drive the share price and could pave the way for an anchor investor or even lead to a takeover. Analysts consider the fair value of Almonty shares well above the current level. Major order from the US defense industry Next big news for Almonty: The US defense industry has secured the Company's tungsten supply for at least three years. It is noteworthy that a minimum purchase price is guaranteed, but there is no upper limit. This shows once again how much demand there is for tungsten. Under the current major order, US defense company Tungsten Parts Wyoming has committed to purchasing at least 40 tons of tungsten oxide per month from Almonty (TSX:AII). The raw material will then be processed into tungsten metal powder by Metal Tech in the US or Israel. The partners announced that Almonty's tungsten is intended exclusively for US defense programs, including missile, drone, and explosive systems. Tungsten Parts Wyoming's customers include virtually all major US defense contractors, such as Lockheed Martin, Northrop Grumman, Boeing, Raytheon, and General Dynamics. Tungsten Parts Wyoming manufactures armor-piercing ammunition, sabot projectiles, armor protection, and missile components, among other things. Almonty CEO Lewis Black commented: ' This binding purchase agreement represents an important milestone for Almonty. Beyond commercial certainty, the agreement ensures that our tungsten oxide will be used in a strategic, high-value end application, strengthening Almonty's position as a key supplier to the US defense supply chain and its allies .' Stock revaluation underway With this new major order, Almonty confirms that the revaluation of its stock, initiated at the end of 2024, is based on fundamental reasons. Tungsten is a critical metal, essential for key technologies such as defense, medical technology, and high-tech applications – it can even be found in iPhones. At the same time, more than 80 per cent of global tungsten production comes from China. It is therefore not surprising that Lewis Black has regularly reported on visits by politicians and industry representatives from the US, South Korea, and Europe in recent years. After all, Almonty already operates a profitable tungsten mine in Portugal, which is set for further expansion. However, it is the project in South Korea that is driving the stock's revaluation. After years of development work – financed in part by the German KfW Bank – Almonty is preparing to bring the Sangdong mine into operation soon. Sangdong will not only be the largest tungsten mine outside China, but will also stand out for its high quality, with a tungsten grade of 0.46 per cent. For comparison: Almonty's profitable Panasqueira mine in Portugal has a tungsten content of 0.14 per cent. New all-time high with NASDAQ listing? In mid-April 2025, Almonty shares, which are also actively traded in Germany, reached their highest price of CAD 2.63. Since then, they have consolidated at a high level. In addition to further major orders and the commissioning of the Sangdong mine, the planned listing on the NASDAQ technology exchange should be a driver for the share price – to a new all-time high? Incidentally, the Company's headquarters are also to be relocated from Canada to the US – perhaps to facilitate a takeover or the entry of a US group? The latter is pure speculation. What is clear, however, is that with a market capitalization of CAD 665 million, Almonty shares are now large enough for institutional US investors and, at the same time, appear anything but expensive given the market potential. Analysts see fair value at CAD 5.40 A glance at analyst estimates shows that Almonty is still undervalued. Sphene Capital expects Almonty's revenue to jump from around CAD 29 million to CAD 104.5 million in the current year. With the ramp-up of the Sangdong mine, this figure could reach CAD 483.4 million in 2027. Earnings are expected to climb at a similarly dynamic pace in the coming years. After CAD 0.20 in 2026, earnings per share are expected to reach CAD 0.51 in 2027. Yesterday, Almonty shares were trading at CAD 2.40. Sphene Capital analysts therefore recommend buying the tungsten gem and see the fair value of the share at CAD 5.40 ( Capital market expert Mario Hose recently shared his thoughts on Almonty's current situation and future potential in an interview with Canadian host Lyndsay Malchuk from Stockhouse. The CEO of the German company Apaton Finance has been following Almonty's development for many years and knows CEO Lewis Black personally. In his view, Almonty differs significantly from many of its competitors in the commodities sector, and the next success stories should only be a matter of time. Click here for the full interview. Conclusion: Another 150%? There are many indications that the revaluation of Almonty shares is far from over. Tungsten is simply too important a metal and too scarce in Western countries. Almonty is unlikely to have any trouble selling its production. And perhaps a major corporation will acquire a stake in the tungsten gem – or even take it over completely – but if so, it will almost certainly be at a significantly higher price. Conflict of interest Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as 'Relevant Persons') may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a 'Transaction'). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company. In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships. For this reason, there is a concrete conflict of interest. The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies. Risk notice Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such. The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user. The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use. This is third-party provided content issued on behalf of Almonty Industries Inc., please see full disclaimer here.
Globe and Mail
07-05-2025
- Business
- Globe and Mail
Small-Cap Locks in Floor-Priced Tungsten Deal, Stock Jumps
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. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
The Market Online
07-05-2025
- Business
- The Market Online
Almonty to supply tungsten oxide to US defense contractor
Almonty Industries (TSX:AII), a tungsten producer in Portugal and soon to be South Korea, signed a binding three-year offtake agreement with Tungsten Parts Wyoming, a US defense contractor, and Metal Tech, a tungsten processor in Israel The company will supply 40 tons of tungsten oxide per month for US defense applications Almonty is a global provider of tungsten concentrate in conflict-free regions Almonty stock has added 262.50 per cent year-over-year and 337.74 per cent since 2020 Almonty Industries (TSX:AII), a tungsten producer in Portugal and soon to be South Korea, signed a binding three-year offtake agreement with Tungsten Parts Wyoming (TPW), a US defense contractor, and Metal Tech, a tungsten processor in Israel. TPW will purchase a minimum of 40 metric tons of tungsten oxide per month to be used in missile, drone and ordnance systems. Metal Tech will process this tungsten oxide into metal powder in Israel or the United States according to TPW's specifications. According to Wednesday's news release, the agreement includes a competitive hard-floor price, subject to grade-specific adjustments, but has no cap on the upside. Deliveries will begin when Almonty reaches commercial tungsten oxide production in 2027-2028, as per the company's investor presentation dated April 2025. Leadership insights 'This binding offtake agreement represents a significant milestone for Almonty, securing both predictable revenue through a defined hard-floor price and long-term demand tied directly to US defense programs,' Lewis Black, Almonty's chief executive officer, said in a statement. 'Beyond commercial certainty, the agreement ensures that our tungsten oxide will serve a strategic, high-value end-use – reinforcing Almonty's position as the key upstream supplier to the defense supply chain of the US and its allies. It reflects our broader commitment to aligning production with national security priorities, while delivering sustainable value to my fellow shareholders and is another customer of Almonty who is happy to commit to our hard-floor pricing terms as a condition of supply.' About Almonty Industries Almonty is a global provider of tungsten concentrate in conflict-free regions, including from its producing Panasqueira mine in Portugal and its Sangdong mine in South Korea, which is slated to begin operations in 2025. The company is also focused on its Valtreixal tin-tungsten and Los Santos tungsten development projects in Spain. Almonty stock (TSX:AII) last traded at C$2.32. The stock has added 262.50 per cent year-over-year and 337.74 per cent since 2020. Join the discussion: Find out what everybody's saying about this tungsten mining stock on the Almonty Industries Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
