Almonty Industries Reports Fourth Quarter and Full Year 2025 Financial Results
Almonty today announced its financial results for the three and twelve months ended December 31, 2025.
Almonty Announces The Filing Of Its Audited Annual Consolidated Financial Statements, MD&A and AIF For The Year Ended December 31, 2020
Last Updated, May 14, 2021
Written by Lewis Black
“2020 was a difficult but ultimately extraordinarily successful year for the Company. Despite the disproportionate costs of placing Los Santos into care and maintenance during the pandemic and being under the backdrop of the endless lock downs due to the Covid-19 pandemic in Europe, we maintained production at our site in Portugal ensuring supply to our customers which has maintained our global operational track record of reliability. We executed the KFW-IPEX Bank loan in December 2020 for US$75.1m libor plus 2.3% term loan for the construction of the world’s largest tungsten mine, our Sangdong mine in Korea. We completed all ore and waste portals at site in Korea and sterilized the site to prepare for construction. We commenced the transition of both our operational team and corporate team to Korea and laid the groundwork for the preparation of an ASX listing and, ultimately, a Korean listing too.
We significantly strengthened our balance sheet, and the audit has confirmed this with the removal of the emphasis of matter in relation to going concern. All short-term liabilities have been pushed out another 3 years on the same terms meaning all shareholders continue to value benefit from the low interest rates and friendly terms applied to these
loans. We received a reclassification of land use in Spain for our Valtreixal project meaning permitting can now be completed and significantly adding forward value to this project now. The Company began trading on Xetra in Germany which has seen significant increases in trading volumes for the Company. Despite the global slowdown in 2020, the Company has pushed forward on all fronts.
Tungsten prices continue to strengthen having risen 25% in 2021. Traditionally Tungsten price lags by 6 months the copper price so the Company expects to see strong increases in Q3/Q4 2021, and we are seeing demand now start to recover. As I have said before, 2021 will be the pivotal moment in the Company’s history as we become primarily a development company as we accelerate the already ongoing construction of our Sangdong mine. As tungsten is increasingly recognised as one of the primary technology metals used in everything from EV’s, 5G to semiconductors, Almonty is well positioned to provide ultimately almost 30% of non-Chinese produced tungsten concentrate just from Sangdong alone which firmly establishes South Korea as a leading alternative for the Plansee group and all our customers looking to ensure further diversification of their existing supply chains.”
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Toronto – May 14, 2021 – Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / OTCQX:ALMTF / FRA:ALI) today announced the filing of its audited annual consolidated financial statements, management’s discussion & analysis (“MD&A”) and Annual Information Form (“AIF”) for the year ended December 31, 2020. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars.
During the fifteen months ended December 31, 2019, the Company, pursuant to Section 4.8(2) of National Instrument 51-102, provided notice that it changed its financial year end from September 30 to December 31 and, accordingly, the financial information presented below is as at and for the twelve months ended December 31, 2020 with comparatives as at and for the fifteen months ended December 31, 2019.
Almonty Industries Reports Third Quarter 2025 Financial Results
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Almonty Industries Reports Second Quarter 2025 Financial Results
Almonty Industries Inc. today announced its second quarter 2025 financial results.
About Almonty
Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (FSE: ALI1) is a leading supplier of conflict free tungsten – a strategic metal critical to the defense and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armor, munitions, and electronics manufacturing. Almonty’s flagship Sangdong Tungsten Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to supply over 80% of global non-China tungsten production upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S. defense procurement bans and export restrictions by China. With established operations in Portugal and additional projects in Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. To learn more, please visit almonty.com.
Legal Notice
The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as “plan”, “development”, “growth”, “continued”, “intentions”, “expectations”, “emerging”, “evolving”, “strategy”, “opportunities”, “anticipated”, “trends”, “potential”, “outlook”, “ability”, “additional”, “on track”, “prospects”, “viability”, “estimated”, “reaches”, “enhancing”, “strengthen”, “target”, “believes”, “next steps” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements concerning the completion of the Offering, the Company’s redomiciling initiatives, the Company’s position as a leading supplier of tungsten to the U.S. and its allies, the timing of any listing of the Common Shares on the Nasdaq, the continued listing of the Common Shares on the TSX and the ASX and trading on the Frankfurt Stock Exchange, and the use of proceeds of the Offering.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include, without limitation, the absence of market conditions that could adversely impact the Offering or the intended listing of the Common Shares on the Nasdaq; the satisfaction of all listing requirements of the Nasdaq and continued listing requirements of the TSX and ASX; the achievement of any closing conditions to the Offering; and the absence of material adverse changes in the Company’s industry or the global economy including interest rates, inflationary pressures, supply chain disruptions, and commodity market volatility.
Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks and uncertainties identified in the Registration Statement; risks relating to the Offering not being completed in a timely manner or at all, including due to unfavourable market or other conditions or factors; the possibility that the required approvals for or conditions to the Offering will not be received or satisfied on a timely basis or at all; changes in the anticipated timing for closing the Offering; business disruption during the pendency of or following the Offering; diversion of management time on Offering-related issues; the ability to retain members of Almonty’s management team; the impact of the Offering on relationships with customers, suppliers, employees and other business counterparties; risks related to the reaction of customers, shareholders and members of the public to the Offering; and other events that could adversely impact the completion of the Offering, including industry or economic conditions outside of Almonty’s control. Any of these risks could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Readers should consider reviewing the detailed risk discussion in the Company’s Registration Statement, the most recent Annual Information Form and the amended Management Discussion and Analysis for the three months ended March 31, 2025 filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.
Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.
Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
For further information, please contact:
Lewis Black
Chairman, President and CEO
Telephone: +1 647-438-9766
Email: [email protected]