Almonty Achieves First Tungsten Production at Sangdong and Approves Phase II Expansion

summarizeSummary

Almonty's Sangdong mine produced its first tungsten concentrate in 33 years, and the company approved Phase II expansion with Metso equipment orders. Buyback execution reached 2.9M shares for ~US$48M.

check_boxKey Events · Product Development and Regulatory · ALM

• First Tungsten Production at Sangdong

  First bags of tungsten concentrate produced at Sangdong — the mine's first output in 33 years. Mill running 13 hours/day, 7 days/week, ramping to 24/7.

• Phase II Expansion Approved

  Phase II officially greenlit with Metso equipment orders placed. Completion expected 2027, capacity up to 1.2M tonnes per annum and over 460,000 MTU annually.

• Buyback Execution Update

  2,914,739 shares repurchased for cancellation at ~US$48M under the $300M program. Company intends automatic repurchase plan to continue buying during blackout periods.

• Operational Stockpile Built

  Approximately 4.6 months of ore stockpiled on site, providing steady mill feed for ramp-up and early production.

auto_awesomeAnalysis · ALM · Energy & Transportation

Almonty has reached a pivotal milestone with first tungsten concentrate production at Sangdong — the mine's first output in 33 years — and has formally approved Phase II, ordering Metso equipment for an expansion targeting over 460,000 MTU annually by 2027. The company also disclosed that it has repurchased 2.9 million shares for ~US$48 million under its buyback program and plans an automatic repurchase plan to continue buying through blackout periods. This transitions Sangdong from a development project to a producing asset, a thesis-altering milestone for a company whose entire valuation rests on becoming a major non-Chinese tungsten supplier.