AlphAIAlphAI — Financial news for AI agents
investornews.comSEP 103 min read$ALM

Almonty CEO Lewis Black on 498% Revenue Growth and Tungsten’s Earnings Power Ahead

Almonty Industries reported Q2 2026 revenue of C$43.0M, up 498% YoY, with income from mining operations at C$26.1M and Adjusted EBITDA at C$17.6M. CEO Lewis Black attributed growth to record tungsten pricing and market dynamics. The company's cash balance surged to C$1.227B post a US$800M convertible notes offering. Almonty also extended its offtake agreement with Global Tungsten & Powders, improving pricing and volume. The company is focusing on Sangdong Mine's ramp-up and U.S. defense supply c

Original reporting
investornews.com
Published Sep 10, 2026, 10:53 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 10, 2026, 12:58 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
About AlphAI AI DeskScoring methodologyReport an issue
Almonty CEO Lewis Black on 498% Revenue Growth and Tungsten’s Earnings Power Ahead — source image
Source · investornews.com
Decision brief

The 30-second read

$ALMBullishMed
01

Why it matters

The earnings beat and capital raise improve the company's balance sheet and provide funding for the Sangdong mine ramp‑up, potentially shifting market dynamics in the tungsten sector.

02

Market read

Almonty's strong Q2 results and financing activities could drive short‑term price appreciation and influence broader mining and defense supply‑chain equities.

03

What to watch

The large convertible note issuance could dilute existing shareholders if conversion occurs, and the share‑repurchase program may be limited by cash flow constraints.

Relevance 7/10Novelty 8/10Timing: Q2 2026 earnings released on Sep 10, 2026

Background

Almonty Industries Inc. (NASDAQ: ALM) is a pure-play tungsten miner that recently delisted from TSX and ASX, focusing on Nasdaq and Frankfurt listings.

Company-level read

Ticker impact

$ALMBullishHigh confidence
Context

Almonty Industries reported Q2 2026 revenue up 498% YoY to C$43.0M and adjusted EBITDA of C$17.6M, the first release of these results.

Expected impact

Potential short‑term price rally on earnings surprise and improved cash position.

Evidence & confidence

The earnings numbers are materially better than prior year and the company announced a large convertible note offering and share‑repurchase authorization, providing both growth capital and shareholder return.

Market effects

Sector

Highlights rising demand for non‑Chinese tungsten, benefiting other Western miners and industrial users.

Regional

May boost sentiment for Canadian mining stocks and related defense supply‑chain firms.

Global

Signals potential supply‑chain shifts in defense and industrial sectors worldwide.

Counterpoint

What could challenge this read

The rapid revenue growth may be unsustainable if Sangdong commissioning faces delays or cost overruns.

Key entities

  • Executive
    Lewis Black

    Chairman, President and CEO of Almonty Industries, provided commentary on earnings and market outlook.

  • Offtaker
    Global Tungsten & Powders LLC

    Extended its offtake agreement with Almonty, increasing contracted volume by 40%.

Read at source← All news

Related articles

SEP 17
$ALMMed

Why is Almonty Industries stock rallying today?

Almonty Industries (ALMTF) stock rose 3.9% in pre-market trading after announcing a tungsten supply agreement with Wolfram Bergbau und Hütten AG, a Sandvik subsidiary. The deal includes 1,720 tonnes of tungsten trioxide and a $3.0 million upfront payment, providing revenue visibility. Shares had fallen 30% over six sessions, erasing $1.6 billion in market cap, despite strong fundamentals. The broader market rally also supported the gain.

investing.com1 min
SEP 17
$BMMHighAI 8/10

America’s Tungsten Shortage is Creating a Major Opportunity

The U.S. seeks to secure tungsten supply, currently dominated by China. Blue Moon Metals (TSXV: MOON, NASDAQ: BMM), The Elmet Group (NASDAQ: ELMT), and EQ Resources (ASX: EQR) announced a strategic agreement to develop the Springer Tungsten Complex in Nevada. The U.S. Department of War invested $450 million, with $150 million allocated to the project. The companies aim to restart production by Q4 2027, addressing the U.S. tungsten shortage.

baystreet.ca4 min
AUG 31
Med

Almonty Industries: Why America just banned tungsten exports

The U.S. banned tungsten scrap exports, requiring licenses for a year. This aims to prevent sales to China, where prices are lower. Almonty Industries plans a $300M share buyback over three years, funded by Sangdong's earnings. Tungsten prices remain high due to supply shortages, with China restricting exports. The company is optimizing mining operations to maximize margins.

marketscreener.com2 min
AUG 20
Med

Original-Research: Almonty Industries Inc. (von GBC AG): Buy

GBC AG initiated coverage on Almonty Industries Inc. with a 'Buy' rating and a $30 target price by 2027. The company's Sangdong tungsten mine began production, reducing construction risks. Strong tungsten pricing and long-term contracts support revenue forecasts of $365.9M in 2026, $1.32B in 2027, and $1.49B in 2028. Upside potential depends on operational performance and market conditions.

finanznachrichten.de2 min
AUG 19
$ALMHigh

China's Tungsten Chokehold Turns Almonty Into The West's Critical-Metal Lifeline

Almonty Industries, a tungsten producer, is positioned as a key supplier to the West amid China's export controls. Beijing's restrictions have driven tungsten prices above $3,125/ton. Almonty's mines in South Korea and Portugal are crucial for defense and semiconductor industries. The company reported a 498% revenue increase in Q2 and authorized a $300M stock buyback.

zerohedge.com3 min