Almonty Shares Gain Momentum as Key Mining Milestone Reached

Almonty CA0203981034

A significant operational update from Almonty Industries Inc. has provided a substantial boost to investor sentiment, driving its share price notably higher. The catalyst is the company's progress at its flagship Sangdong tungsten mine in South Korea, which has now transitioned from construction to initial production.

The pivotal development occurred on December 16, when the company announced the first delivery of ore to the Run-of-Mine (ROM) pad. This event effectively marks the conclusion of the mine's major construction phase and the commencement of its commercial production timeline. The market's response to this long-awaited milestone was immediate and pronounced.

Trading activity surged well above typical year-end levels, with volume reaching approximately 1.27 million shares. The equity closed at its daily high, breaking through a previous resistance level that had capped its upward movement.

Key Market Data (Previous Close):
* Closing Price: $9.45
* Daily Change: +6.90%
* Trading Volume: 1.27 million shares
* Analyst Price Target: $12.00
* 50-Day Moving Average: $7.14

Analyst Consensus Points to Further Upside

The positive market reaction is underpinned by supportive analyst commentary. DA Davidson has reaffirmed its buy rating on Almonty, maintaining a $12.00 price target. From the current trading level, this implies a potential upside of roughly 27%.

The focus of this optimism is the material reduction of operational risk at Sangdong. With ore now on the ROM pad, uncertainties surrounding the mine's construction have diminished considerably. This view is echoed by Oppenheimer, which has also set a $12.00 target. Collectively, analyst consensus positions the stock as a "Moderate Buy."

Financial and Technical Positioning

From a chart perspective, the stock is trading significantly above its 50-day moving average of $7.14, illustrating the strength of the rally since the December production updates.

On the balance sheet, Almonty reports a debt-to-equity ratio of 16.37. This elevated leverage is directly tied to the capital-intensive build-out of the Sangdong project. As cash flows from the mine begin to materialize, key financial metrics are expected to improve progressively. The company's current ratio stands at 0.77, a figure not uncommon for a mining firm transitioning out of a heavy development phase.

Strategic U.S. Access Provides Additional Tailwind

Beyond the operational progress, a strategic shift toward the U.S. market is serving as an additional driver for the stock. The company initiated a re-domiciliation to Delaware in January 2025, which was completed following shareholder approval in February. This was followed by a successful NASDAQ listing in July 2025.

These strategic moves have substantially broadened Almonty's access to U.S. institutional and retail investors. Furthermore, they amplify the strategic importance of Sangdong as a non-Chinese source of a critical mineral within the global tungsten market. By addressing supply chain concerns for the U.S. and EU, this positioning, combined with the start of commercial production, is likely to sustain institutional investor interest into 2026.