Almonty Details 2025 Mining Ramp-Up and Capital Raises as It Positions to Anchor Western Tungsten Supply Chain

Almonty Industries ( (TSE:AII) ) has issued an update.

In a shareholder letter dated January 20, 2026, Almonty Industries detailed a transformational 2025 marked by the start of active mining at its Sangdong Tungsten Mine in South Korea in December 2025, the securing of long-term offtake agreements including for U.S. defense applications, and the acquisition of the Gentung Browns Lake project in Montana to expand its Western-aligned production base. The company highlighted surging tungsten prices following Chinese export restrictions and impending U.S. bans on Chinese tungsten in defense procurement, positioning Almonty as the largest Western-aligned tungsten producer and a key supplier for strategic stockpiles. It also advanced drilling and expansion plans at Sangdong (including a future molybdenum project) and Panasqueira, completed two upsized U.S. equity offerings totaling about US$219 million alongside a Nasdaq uplisting to fund growth, and strengthened its leadership bench with U.S.-focused operational, financial and defense logistics expertise. Looking ahead to 2026, Almonty plans to push Sangdong toward full commercial production and a Phase II expansion, increase output and mine life at Panasqueira, move Gentung toward production readiness in the second half of 2026, and continue evaluating additional tungsten opportunities in collaboration with governments and customers, reinforcing its ambition to anchor a Western tungsten supply chain.

The most recent analyst rating on (TSE:AII) stock is a Hold with a C$11.50 price target. To see the full list of analyst forecasts on Almonty Industries stock, see the TSE:AII Stock Forecast page.

Spark’s Take on TSE:AII Stock

According to Spark, TipRanks’ AI Analyst, TSE:AII is a Neutral.

Almonty Industries’ overall stock score is primarily impacted by its financial challenges, including high leverage and negative profitability, which weigh heavily on the score. While technical analysis shows bullish momentum, the negative P/E ratio and lack of dividend yield limit the stock’s valuation appeal.

To see Spark’s full report on TSE:AII stock, click here.

More about Almonty Industries

Almonty Industries is a Toronto-headquartered, multi-listed producer and supplier of conflict-free tungsten, a strategic metal critical to defense and advanced technology sectors. Its flagship Sangdong Tungsten Mine in South Korea, together with the long-running Panasqueira Mine in Portugal and the Gentung Browns Lake project in Montana, underpins a Western-focused supply platform aimed at reducing dependence on Chinese tungsten and supporting U.S. and allied industrial and defense needs.

Average Trading Volume: 743,984

Technical Sentiment Signal: Buy

Current Market Cap: C$3.18B

For a thorough assessment of AII stock, go to TipRanks’ Stock Analysis page.