Almonty to Voluntarily Delist From ASX

Almonty Industries (Nasdaq: ALM) reported Q2 2026 results: revenue rose 498% year over year to $43.0 million, with net income of $181.8 million and adjusted EBITDA of $17.6 million. The company closed an oversubscribed $800 million 2.25% convertible notes offering and reported $1.2 billion cash at June 30, 2026. It also amended its GTP offtake agreement, extending it 6 years and raising volumes and pricing.

The article says tungsten has outperformed gold, silver and copper over the past year and that the U.S. has not mined tungsten since 2015, while China supplies about 80% of global tungsten and nearly 90% of processing. It notes a U.S. defense rule from Jan 1, 2027 banning tungsten routed through China. It highlights Blue Moon Metals (TSXV: MOON, NASDAQ: BMM) acquiring 33 tungsten and antimony projects near its Springer complex, with consideration including 2.8M shares, $5.0M cash, and a 1% NSR r

Almonty Industries’ shares fell to C$18.81, down 5.52% on Friday and about 44% below its April 52-week high, as the stock tests support near C$18.00. The company began processing at its Sangdong mine in South Korea and extended an offtake with Global Tungsten & Powders for 21 years, with higher volumes and prices, expected to add at least US$30m annual contract revenue and about US$490m total.

Almonty Industries began processing ore at its Sangdong tungsten mine in South Korea on July 1, moving from development to production. The company also plans to consolidate listings, with TSX trading ending July 31 and ASX delisting approved July 23, shifting liquidity to Nasdaq (ALM) and Frankfurt (ALI1). Shares fell 5.52% to C$18.81.

Almonty Industries said it will delist from the Toronto Stock Exchange after July 31 and from the ASX after CHESS depositary interests end Aug. 28, with ASX delisting effective Sept. 1, citing low Australian volumes. Shares closed C$18.81, down 5.52% on Friday. Sangdong processing began July 1, and a 21-year offtake with Global Tungsten & Powders was expanded by 40% to about US$490 million potential revenue.

Almonty Industries began processing ore at its Sangdong tungsten mine on July 1 and extended its offtake with Global Tungsten & Powders (Plansee), increasing volume 40% to 4.41 million MTU and extending the term to the late 2040s. Deutsche Rohstoff sold 5 million Almonty shares at about $16. Almonty applied to delist from TSX and ASX, concentrating on Nasdaq under ALM.