Canada · Delayed Price · Currency is CAD Almonty Industries Earnings Call Transcripts
Fiscal Year 2026
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Multiple gold and base metal projects are advancing with new drilling, resource expansion, and royalty growth. A major tungsten mine is now operational, with ramp-up to full production expected by Q3, supporting a strong financial outlook and a shift toward a royalty-focused model.
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Tungsten prices have soared due to Chinese supply constraints, subsidy removal, and export controls, while Western supply faces bureaucratic hurdles. Demand is shifting toward defense and technology sectors, with substitution unlikely. Strategic focus is moving downstream, and recycling is set to grow.
Fiscal Year 2025
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Almonty is advancing major tungsten and molybdenum projects in South Korea, Portugal, and Spain, with Sangdong set to become a leading global tungsten supplier. Strategic off-take agreements, U.S. re-domiciling, and rising defense demand position the company as a key Western supplier.