fool.comSEP 191 min read$ALM

Is Almonty a Buy After Its 326% Rally?

Almonty Industries (ALM) has started production at its Sangdong mine as demand for non-Chinese tungsten rises. The stock has surged 326% and trades at 65 times earnings, with future performance tied to operational success.

Original reporting

fool.com

Published Sep 19, 2026, 4:00 PM UTC

Analysis

AlphAI AI DeskAI-generated

Added to AlphAI Sep 19, 2026, 4:23 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.

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Is Almonty a Buy After Its 326% Rally? — source image — Source · fool.com

Decision brief

The 30-second read

$ALMBullishMed

Why it matters

The operational milestone underpins the recent 326% price surge and could sustain momentum.

Market read

Company‑specific production news with a sizable prior rally; moderate trading relevance.

What to watch

Potential supply chain constraints and price volatility in tungsten.

Relevance 7/10Novelty 7/10Timing: today

Background

Almonty Industries (ALM) announced its Sangdong mine is now in production amid strong demand for non‑Chinese tungsten.

Company-level read

Ticker impact

AI estimates · verify against primary disclosures

$ALMBullishMedium confidence

Context

Almonty Industries moved its flagship Sangdong mine into production, driving a 326% rally.

Expected impact

Potential further upside if execution meets expectations.

Evidence & confidence

New operational milestone after a massive rally suggests continued buying interest.

Market effects

Sector

Highlights growing demand for non‑Chinese tungsten supply.

Regional

May benefit other miners in the region seeking similar contracts.

Global

Limited to tungsten market; broader impact modest.

Counterpoint

What could challenge this read

Rally may be overextended; execution risks could trigger a pullback.

Key entities

Company
Almonty Industries
U.S.-listed tungsten miner (ticker ALM).

Read at source ← All news

SEP 21

$ALMMedAI 8/10

Almonty clears final hurdle to start producing tungsten concentrate in South Korea

Almonty Industries (ALM) received South Korean approval to process tungsten concentrate at the Sangdong mine, expected to produce 200,000 MTU/year. The mine resumed production in March and has 4.4M MTU contracted. Tungsten is vital for defense and tech, with prices high and Chinese exports controlled. ALM shares rose 5.9% to $14.66.

northernminer.com2 min

SEP 21

$ALMHighAI 8/10

Almonty clears final hurdle to start producing tungsten at South Korea mine

Almonty Industries (ALM) received South Korean approval to commercially process tungsten at the Sangdong mine, expected to produce 200,000 MTU/year. The company has invested over $100M to redevelop the site. Tungsten prices are high, and over 90% of Phase I production is contracted. ALM shares rose 6.43% to $14.73.

mining.com2 min

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

SEP 10

$ALMMed

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

investornews.com3 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