Latest Almonty Industries (ASX:AII) News

Almonty Industries has announced a $700 million convertible senior notes offering due 2031, aiming to refinance existing debt and fund corporate initiatives amid rising tungsten demand.

Speculative small caps drove the week, with Tasman Resources, Solis Minerals and Lithium Energy leading the board after funding, drilling and asset sale updates. At the other end, ASX Ltd and Arafura Rare Earths fell hard as investors reacted to higher costs and fresh equity issuance.

Small-cap materials stocks swung hard as fresh funding, mine build decisions and standout drill hits drove the week’s biggest moves. Gold, lithium, rare earths and tungsten names all drew buying, while a few raisings and weak follow-through after trading halts kept losses sharp.

Almonty Industries is set to join the prestigious Russell 1000 and 3000 indexes in June 2026, marking a significant milestone that highlights its growth and operational progress amid rising tungsten demand.

Almonty Industries reported a 221% jump in Q1 2026 revenue to CAD 25.4 million, driven by soaring tungsten prices and ramp-up at its Sangdong Mine, while net loss narrowed to CAD 5.3 million amid strong operational cash flow.

A brutal split opened up in small caps: a few stocks surged on hard approvals and funding, while many resource names slid even after announcing big numbers. The week’s tape looked simple: investors paid for certainty and sold anything that still needs time, permits, or more cash.

A brutal sell-off in a few small caps did most of the damage this week, even as project funding and resource upgrades kept rolling in. Lithium, rare earths and tungsten news stayed constructive, but traders punished anything that looked like delays, dilution or weaker prices.

Almonty Industries has commenced commercial production at its flagship Sangdong Mine in South Korea and secured more than US$200 million through Nasdaq IPO and equity offerings to fund expansion projects. Despite rising revenues driven by soaring tungsten prices, the company reported a significant net loss due to non-cash derivative liabilities.

Almonty Industries has completed Phase 1 commissioning of the Sangdong Tungsten Mine in South Korea, marking its first production in over 30 years and setting the stage for a major expansion.

Almonty Industries has marked a pivotal milestone by delivering the first ore to the ROM pad at its Sangdong tungsten mine, signaling the start of commercial mining and a strategic shift in global tungsten supply chains.

Almonty Industries has priced an upsized US$112.5 million share offering to accelerate development of key tungsten and molybdenum projects, reinforcing its position amid tightening global supply chains.

Almonty Industries has announced a $15 million public offering of common shares in the US, aiming to accelerate development across its tungsten and molybdenum projects amid rising global demand.