Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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  <li>
<a href="https://smartkarma.com/entities/almonty-industries-inc">Almonty Industries</a> is poised for a significant transformation from a development-stage company to a major global tungsten producer with the impending commencement of operations at its large-scale, high-grade Sangdong mine in South Korea.</li>
  <li>The company is strategically positioned to benefit from the increasing geopolitical importance of tungsten and the desire of Western economies to secure supply chains for critical minerals outside of China.</li>
  <li>While the long-term outlook is promising, Almonty currently faces financial pressures from its development activities, reflected in its unprofitability and negative cash flow, and is subject to significant execution risk as it ramps up production at Sangdong.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Almonty Industries is poised for a significant transformation from a development-stage company to a major global tungsten producer with the impending commencement of operations at its large-scale, high-grade Sangdong mine in South Korea.
  The company is strategically positioned to benefit from the increasing geopolitical importance of tungsten and the desire of Western economies to secure supply chains for critical minerals outside of China.
  While the long-term outlook is promising, Almonty currently faces financial pressures from its development activities, reflected in its unprofitability and negative cash flow, and is subject to significant execution risk as it ramps up production at Sangdong.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Almonty Industries (AII CN) - Dec 2025

Bank-In­de­pen­dent In­vest­ment Hou­se, GBC AG

GBC AG

Bank-In­de­pen­dent In­vest­ment Hou­se

GBC AG, headquartered in Augsburg, is one of the leading bank-independent investment houses in Germany and an experienced issuing expert for German SMEs.

As an owner-managed company, GBC AG knows the financing needs of German SMEs and is an independent and reliable partner for all capital market issues.

Within the GBC Group, GBC AG offers corporate analysis & research, capital market & financing consulting as well as capital market conferences.

GBC Kapital GmbH complements the services in the group with corporate finance in the areas of placement & brokerage of bonds and shares.

<ul>
<li>Almonty Industries Inc. delivered first half 2025 results that highlight both the transitional state of its operating portfolio and the considerable strategic progress achieved in the period.</li>
<li>For the six months ended June 30, 2025, revenue totaled C$15.10 million, down modestly from C$15.76 million in the prior-year period, while the net loss widened sharply to C$92.83 million compared with C$5.58 million in the first half of 2024.</li>
<li>The increase in losses was driven primarily by non-cash revaluation charges related to warrants and embedded derivatives, along with higher share-based compensation and increased corporate expenses linked to the company’s redomiciling and U.S. listing preparations.</li>
</ul>


Almonty Industries Inc. delivered first half 2025 results that highlight both the transitional state of its operating portfolio and the considerable strategic progress achieved in the period.
For the six months ended June 30, 2025, revenue totaled C$15.10 million, down modestly from C$15.76 million in the prior-year period, while the net loss widened sharply to C$92.83 million compared with C$5.58 million in the first half of 2024.
The increase in losses was driven primarily by non-cash revaluation charges related to warrants and embedded derivatives, along with higher share-based compensation and increased corporate expenses linked to the company’s redomiciling and U.S. listing preparations.


Strategic Positioning Strengthens as Sangdong Nears Commissioning

<ul><li>Almonty Industries Inc. and MP Materials Corp. are both players in the critical minerals space, supplying materials vital for modern industries and strategic applications.</li><li>Almonty focuses on tungsten, a metal essential for defense, electronics, and industrial tooling, while MP Materials is a leading U.S. producer of rare earth elements, particularly neodymium and praseodymium, used in permanent magnets for electric vehicles, wind turbines, and military technologies.</li><li> Recently, Almonty has been progressing the development of its flagship Sangdong tungsten mine in South Korea, which is expected to start production in late 2025 and potentially double capacity by 2027 through a planned expansion.</li></ul>

Almonty Industries Inc. and MP Materials Corp. are both players in the critical minerals space, supplying materials vital for modern industries and strategic applications.Almonty focuses on tungsten, a metal essential for defense, electronics, and industrial tooling, while MP Materials is a leading U.S. producer of rare earth elements, particularly neodymium and praseodymium, used in permanent magnets for electric vehicles, wind turbines, and military technologies. Recently, Almonty has been progressing the development of its flagship Sangdong tungsten mine in South Korea, which is expected to start production in late 2025 and potentially double capacity by 2027 through a planned expansion.

Research Comment english – Almonty Industries Inc. - 21.07.2025

<ul><li>Almonty Industries has reported first quarter 2025 financial results in line with expectations and reaffirmed its position as one of the most strategically important critical mineral suppliers in the Western Hemisphere.</li><li>The company continues to deliver on its operational roadmap, capital deployment, and geopolitical positioning at a time when global interest in reliable non-Chinese tungsten supply is intensifying.</li><li>Following a significant rally in tungsten prices since February and the continued de-risking of its Sangdong Mine in South Korea, we have updated our forecasts and valuation model.</li></ul>

Almonty Industries has reported first quarter 2025 financial results in line with expectations and reaffirmed its position as one of the most strategically important critical mineral suppliers in the Western Hemisphere.The company continues to deliver on its operational roadmap, capital deployment, and geopolitical positioning at a time when global interest in reliable non-Chinese tungsten supply is intensifying.Following a significant rally in tungsten prices since February and the continued de-risking of its Sangdong Mine in South Korea, we have updated our forecasts and valuation model.

Research Comment – Almonty Industries Inc. - 10.06.2025

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

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<a href="https://www.smartkarma.com/entities/almonty-industries-inc" target="_blank" data-smartkarma-citation="entities:23864:1" rel="noopener">Almonty Industries (AII CN)</a>, <a href="https://www.smartkarma.com/entities/standard-lithium-ltd" target="_blank" data-smartkarma-citation="entities:38824:1" rel="noopener">Standard Lithium (SLI US)</a> and <a href="https://www.smartkarma.com/entities/hubei-zhenhua-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:30013:1" rel="noopener">Hubei Zhenhua Chemical Co Ltd (603067 CH)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> in December.</li>
<li>The constituent changes, float changes and capping changes result in an estimated one-way turnover of 18.2% and in a round-trip trade of US$550m.</li>
<li>There have been large creations in <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> as strategic metals and rare earths stocks have surged in price over the last few months.</li>
</ul>



Almonty Industries (AII CN), Standard Lithium (SLI US) and Hubei Zhenhua Chemical Co Ltd (603067 CH) will be added to the VanEck Rare Earth/Strategic Me (REMX US) in December.
The constituent changes, float changes and capping changes result in an estimated one-way turnover of 18.2% and in a round-trip trade of US$550m.
There have been large creations in VanEck Rare Earth/Strategic Me (REMX US) as strategic metals and rare earths stocks have surged in price over the last few months.


MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$550m Trade

Canada

Almonty Industries Inc. operates as a mineral exploration company. The Company operates production activities at the Los Santos Project, a tungsten mine located near Salamanca, in western Spain. Almonty Industries serves worldwide.

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Almonty Industries (AII CN)

Primer: Almonty Industries (AII CN) - Dec 2025

Almonty Industries is poised for a significant transformation from a development-stage company to a major global tungsten producer with the...

αSK

Strategic Positioning Strengthens as Sangdong Nears Commissioning

Reflecting both the higher commodity price assumption and the rollover effect, we are revising our target price for Almonty Industries to CAD 9.00...

GBC AG

Research Comment english – Almonty Industries Inc. - 21.07.2025

Almonty Industries Inc. and MP Materials Corp. are both players in the critical minerals space, supplying materials vital for modern industries...

GBC AG

Research Comment – Almonty Industries Inc. - 10.06.2025

Almonty Industries has reported first quarter 2025 financial results in line with expectations and reaffirmed its position as one of the most...

GBC AG

MV Global Rare Earth/Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$550m Trade

There are 3 adds for the REMX in Dec. Estimated one-way turnover is 18.2% and round-trip trade is US$550m. There have been big creations in REMX...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: Almonty Industries (AII CN) - Dec 2025

Almonty Industries is poised for a significant transformation from a development-stage company to a major global tungsten producer with the...

αSK

Strategic Positioning Strengthens as Sangdong Nears Commissioning

Reflecting both the higher commodity price assumption and the rollover effect, we are revising our target price for Almonty Industries to CAD 9.00...

GBC AG

Research Comment english – Almonty Industries Inc. - 21.07.2025

Almonty Industries Inc. and MP Materials Corp. are both players in the critical minerals space, supplying materials vital for modern industries...

GBC AG

Research Comment – Almonty Industries Inc. - 10.06.2025

Almonty Industries has reported first quarter 2025 financial results in line with expectations and reaffirmed its position as one of the most...

GBC AG

MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$550m Trade

There are 3 adds for the REMX in Dec. Estimated one-way turnover is 18.2% and round-trip trade is US$550m. There have been big creations in REMX...

Brian Freitas

MV Global Rare Earth/Strategic Metals Index Rebalance: 3 Adds and Other Changes; US$550m Trade