Almonty Industries Inc. Consolidates Shares and Advances Sangdong Tungsten Mine Strategy
- Almonty Industries consolidates shares in a 1-for-1.5 ratio to streamline capital structure for a Nasdaq listing.
- The company initiates trading of CHESS Depositary Interests on the Australian Securities Exchange, expanding its global presence.
- Almonty files an updated technical report for the Sangdong Tungsten Mine, outlining phased production plans and future expansions.
Almonty Industries Enhances Strategic Position with Share Consolidation and Technical Report
Almonty Industries Inc. ("Almonty") announces a significant move to consolidate its common shares in a 1-for-1.5 ratio, a decision approved by shareholders at the recent annual general meeting held on April 30, 2025. This consolidation aims to streamline the company's capital structure in preparation for a potential listing on the Nasdaq. Effective July 7, 2025, the share consolidation is set to reduce the total number of outstanding shares to approximately 195,860,844, with fractional shares being rounded down. The decision reflects Almonty’s strategic focus on enhancing its market presence and accessibility to a broader investor base, ultimately supporting its operational growth in the tungsten industry.
In conjunction with the share consolidation, Almonty plans to initiate trading of CHESS Depositary Interests (CDIs) on the Australian Securities Exchange starting July 8, 2025, with normal settlement commencing shortly thereafter. This move indicates Almonty’s commitment to expanding its global footprint and market engagement. The company’s transfer agent, Computershare Investor Services Inc., is tasked with managing the exchange process for shareholders, ensuring a smooth transition to the new share structure. By consolidating shares, Almonty positions itself to attract institutional investors who often prefer stocks with a higher price point, which can also signal stability and growth potential.
Almonty’s ongoing operational developments complement the consolidation strategy. The company recently filed an updated National Instrument 43-101 technical report for its Sangdong Tungsten Mine in South Korea, reflecting advancements in mine construction and future production plans. The report, effective February 28, 2025, outlines a phased approach to production, starting with Phase I targeting an ore throughput capacity of approximately 640,000 tons per year in the second half of 2025. A potential Phase II expansion, fully permitted and aiming to increase capacity to 1.2 million tons annually, is anticipated to be initiated as early as 2026, contingent on the performance of Phase I. This phased development emphasizes the strategic importance of the Sangdong Mine, which has become Almonty’s primary mineral project, overshadowing other properties like the Panasqueira Mine in Portugal.
In summary, Almonty Industries Inc. is making strategic advancements through share consolidation and a comprehensive technical report for its key asset, the Sangdong Tungsten Mine. These initiatives reflect the company’s commitment to strengthening its market position and operational capabilities in the tungsten sector. As Almonty prepares for a more robust trading environment, it remains focused on delivering value to its shareholders while expanding its projects in Portugal and Spain, reinforcing its status as a leading global tungsten producer.