Almonty Industries: Exchange Exit and Major Shareholder Sale Test Investor Nerves

Almonty Industries slides 5.52% as it plans TSX and ASX exits while Deutsche Rohstoff sells 5M shares for €65M gain, amid Sangdong mine progress.

Almonty Industries is navigating a period of dual turbulence as it prepares to abandon two stock exchanges while one of its largest shareholders cashes in a substantial chunk of equity. The tungsten producer’s shares have felt the strain, sliding 5.52% in a single session to close at C$18.81 on Friday, as the combination of structural change and insider selling weighs on sentiment.

Exchange Consolidation Gathers Pace

The company is streamlining its listing structure with surgical precision. Its departure from the Toronto Stock Exchange is set for July 31, while the Australian Securities Exchange exit unfolds in two phases: CDI instruments will cease trading on August 28, with formal delisting following on September 1. Almonty has cited the growing concentration of trading volume on the Nasdaq — where shares trade under the ticker ALM — as the driving rationale, alongside cost savings from maintaining four simultaneous listings. Holders of Australian CDIs have two options: sell their positions or convert them into Nasdaq shares. The Frankfurt listing under the code ALI1 remains untouched, meaning European retail investors face minimal disruption even as the landscape shifts dramatically for Canadian and Australian holders.

Deutsche Rohstoff Books €65 Million Gain

Adding to the near-term pressure, the Deutsche Rohstoff AG has sold 5 million Almonty shares at roughly US$16 each, generating a pre-tax profit of approximately €65 million. The German resource group still retains 5.5 million shares following the partial exit, and the proceeds have bolstered its own upgraded earnings outlook: its 2026 EBITDA forecast jumped from €290-310 million to around €365 million, while the revenue projection held steady at €260-280 million.

Market participants tend to read such moves through a dual lens — validation that the investment has compounded handsomely over time, but also a signal that further supply could emerge if other long-term holders follow suit. The timing of the sale, coinciding with the delisting announcements, has amplified short-term uncertainty among Almonty investors.

Sangdong Production and Strategic Positioning

Behind the organizational upheaval sits an operating business that has made tangible progress. Almonty has commenced production at its Sangdong mine in South Korea and extended its offtake agreement with Global Tungsten & Powders to an unusually lengthy 21-year term. That long horizon provides rare revenue visibility in a sector where China controls an estimated 80% of global tungsten mining and dominates downstream processing. Western buyers are increasingly scrambling for non-Chinese supply chains, and Sangdong positions Almonty as one of the few reliable suppliers outside Beijing’s orbit.

Technical Picture Remains Bruised

The stock’s recent retreat has pushed it below its 200-day moving average, now trading 1.78% beneath that key trendline. The relative strength index sits at 42, indicating neutral-to-cooled momentum, while the price has fallen under both its 50-day and 100-day averages. Despite the pullback, the longer-term trajectory remains striking: Almonty shares have gained 229.64% over the past twelve months, driven by the growing strategic importance of tungsten for Western defense and critical mineral supply chains — a theme that has gained political traction in both the US and UK.

The stock now sits roughly 40.30% below its 52-week high reached in April, though some analysts maintain a price target of C$27.80, implying substantial upside from current levels provided the exchange transition proceeds smoothly and operational delivery matches expectations. For investors holding shares through Toronto or Australia, the July 31 deadline marks the next concrete test of execution.