Almonty Industries Inc (ALM)

America's Antimony Gap Is Washington's Problem -- and NevGold Is Racing to Help Close ItJune 5, 2026 11:12 AM
PR Newswire (US) Issued on behalf of NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50)With a freshly funded treasury, a 20,000-meter drill program underway and a maiden antimony-gold resource targeted for Q2, a Nevada brownfield project is positioning itself near the front of a very short line of domestic antimony hopefuls.VANCOUVER, BC, June 5, 2026 /PRNewswire/ -- American News Group News Commentary – There is a strategic vulnerability buried in the supply chain of nearly every modern weapons system, and Washington has finally started treating it like one. The metal is antimony — a hardener for munitions, a component in flame retardants, night-vision gear and a long list of defense applications — and the United States does not have a single operating primary antimony mine. That gap is precisely the opportunity that NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50) has spent the past several months racing to address at its Limousine Butte project in Nevada. The Backstory: From Gold Explorer to Critical-Minerals Contender
NevGold is a Vancouver-based exploration and development company with a portfolio of 100%-owned projects across Nevada and Idaho, led by the Limousine Butte gold-antimony project in Nevada and the Nutmeg Mountain gold project in Idaho. What began as a gold story has, over the past year, evolved into something more strategically charged. As drilling at Limo Butte repeatedly returned not just gold but meaningful antimony grades, the company recognized it was sitting on something the U.S. government increasingly wants: a domestic, at-surface source of a critical mineral that is overwhelmingly controlled by China.Limo Butte is a brownfield site — a former mine with existing disturbance and historical infrastructure — hosting near-surface oxide mineralization amenable to leaching. That combination matters. Brownfield status can ease permitting and shorten timelines, while oxide, heap-leachable material is generally cheaper and faster to process than refractory, sulphide ore. The company has framed the project around a two-part thesis: near-term antimony production from historical leach pads, followed by broader gold-antimony development across the wider property.The News: A Catalyst-Dense Stretch
NevGold has packed an unusual amount of news into a short window. In May, the company closed an upsized brokered private placement of approximately C$42 million, giving it one of the stronger treasuries among junior antimony-gold developers and removing the financing overhang that so often stalls exploration plays at exactly the wrong moment. Around the same time, it commenced a 20,000-meter drill program at Limo Butte, with a streamlined focus on resource building, expansion and new discoveries.On the technical side, the company has reported consistent oxide antimony-gold mineralization from the historic crushed leach pad — including an interval of 0.32% antimony and 0.39 g/t gold over 14.9 meters — and, in late May, striking surface sampling results from the historical Pre-Strip Dump, with grades reported up to 53.7% antimony and fourteen samples exceeding 2% antimony. Earlier metallurgical testwork had indicated up to 99% gold recovery and a processing sequence in which antimony can be leached first with minimal impact on subsequent gold recovery — a potential pathway to near-term antimony output followed by gold extraction.Crucially, the company has reiterated that its maiden antimony-gold Mineral Resource Estimate remains targeted for the second quarter of 2026, a milestone that would convert a steady stream of drill headlines into a defined, quantifiable resource. Investors tracking that catalyst can follow the company's progress through its American News Group profile page.Why It Matters Now: A Policy Tailwind With Real Money Behind It
Antimony has moved from obscure industrial input to front-page strategic priority. It is classified as a top-priority critical mineral by the U.S. Geological Survey and prioritized by U.S. defense authorities, and the urgency intensified after China tightened its grip on antimony exports. The policy response is no longer rhetorical — it now comes with capital. The clearest signal arrived when the board of the U.S. Export-Import Bank approved a US$2.9 billion loan commitment in support of Perpetua Resources' Stibnite gold-antimony project in Idaho, a landmark vote of federal confidence in domestic antimony supply.NevGold publicly congratulated Perpetua on that milestone while positioning its own at-surface oxide Limo Butte project as a complementary, potentially faster-to-first-production story. The logic is straightforward: the United States needs more than one domestic antimony source, and projects that can reach production quickly — brownfield, oxide, heap-leachable — carry strategic weight out of proportion to their size. More technical and project background is available on the company's investor landing page.The China Factor
To understand why a Nevada brownfield project is suddenly strategically interesting, it helps to understand how concentrated antimony supply has become. China has long dominated global antimony mining and processing, and when it moved to restrict exports of the metal, the effect rippled quickly through Western defense and industrial supply chains. Antimony is not easily substituted in many of its uses — it hardens lead in munitions and batteries, plays a role in flame retardants, and is essential to certain night-vision and infrared applications — which means a supply squeeze is not merely an inconvenience but a national-security concern. Prices responded accordingly, climbing to levels that transformed the economics of projects that had languished for years.That repricing is the backdrop against which NevGold's Limo Butte results should be read. Surface samples grading as high as 53.7% antimony are extraordinary by any historical standard, and while grab and grid samples are selective by nature and not necessarily representative of the broader deposit, they point to the presence of very high-grade antimony at surface on a site that has already been disturbed by prior mining. For a country with zero operating primary antimony mines, even a modest domestic source carries strategic value that its tonnage alone would not capture.Inside Limousine Butte
Limo Butte's appeal is rooted in a combination of factors that rarely appear together. It is located in Nevada, consistently ranked among the world's most attractive mining jurisdictions for its geology, infrastructure and permitting environment. It is a brownfield site, meaning prior disturbance and historical data reduce some of the uncertainty and timeline risk that greenfield projects face. And its mineralization is oxide and near-surface — the kind of material that lends itself to lower-cost heap-leach processing rather than the capital-intensive flotation and roasting required for refractory ores.The company's near-term thesis centers on the historical leach pads and waste dumps left behind by past operations, which appear to contain significant antimony that was never the target when the site was mined for gold decades ago. Recovering antimony from already-mined material is, in principle, one of the fastest possible routes to production, since much of the heavy lifting of extraction has already been done. Layered on top of that is the broader exploration upside across the wider property, where the ongoing 20,000-meter program is testing for resource expansion and new discoveries using the geological model NevGold has refined through successive drill campaigns. The interplay between a quick-to-production leach-pad scenario and a larger conventional resource is what gives the project two distinct ways to create value.The Peer Group
NevGold sits within a small cohort of companies that federal capital and defense planners are watching closely. Perpetua Resources Corp. (Nasdaq: PPTA) is the most advanced of the group, advancing its Stibnite gold-antimony project in Idaho with the backing of that US$2.9 billion EXIM loan commitment and expectations of supplying a meaningful share of U.S. antimony demand in its early production years. United States Antimony Corporation (NYSE American: UAMY) operates antimony smelting and processing capacity in North America and has been expanding its domestic footprint as demand for non-Chinese supply accelerates.Beyond the pure antimony names, the comparison broadens to critical-minerals developers tying resource projects to defense demand. Almonty Industries Inc. (Nasdaq: ALM) is best known for tungsten but is squarely part of the Western critical-minerals supply-chain build-out, while Nova Minerals Limited (Nasdaq: NVA) has advanced an antimony-gold angle at its Estelle project in Alaska, drawing its own share of government interest. Against that backdrop, NevGold's distinguishing features are its brownfield, at-surface oxide setting and its explicit near-term production framing — attributes that, if borne out by the coming resource estimate, could position it as one of the more execution-ready names in the domestic antimony conversation.The Bottom Line
NevGold has assembled the ingredients that junior-mining investors look for in a catalyst window: a funded treasury, an active drill program, consistent grades, a clear near-term production thesis and a maiden resource estimate on the near horizon — all set against a policy backdrop in which Washington is actively writing checks for domestic antimony. None of that guarantees an economic mine; resource estimates, metallurgy, permitting and commodity prices all still have to cooperate. But few junior developers are as well-positioned to capitalize on America's antimony gap. Readers can follow the maiden resource estimate and drill results as they land via the company's NevGold landing page.TRACK THE TREND WITH EAGLE EYE:
To help investors track sentiment and market-forum activity around developing stories like this one, MIQ offers Eagle Eye, a free investor-signal tool that scans market-forum discussion for emerging trends. It is available to everyone at EagleEye.usanewsgroup.com as a research aid — not investment advice — to help investors make more informed decisions.CONTACT:
AmericanNewsGroup.com
info @therooster-2873SOURCES:
[1] NevGold Corp., "NevGold Announces Up To 53.7% Antimony, And Fourteen Samples Over 2% Antimony, From Surface Sampling On Pre-Strip Dump," May 28, 2026.
[2] NevGold Corp., "NevGold Commences 20,000 Meter Drill Program at Antimony-Gold Limo Butte Project, Nevada," May 21, 2026; and "Closing of Upsized $42M Brokered Private Placement Financing," May 12, 2026.
[3] NevGold Corp., "NevGold Congratulates Perpetua Resources On US$2.9 Billion Loan...," May 22, 2026.
[4] Yahoo Finance issuer listings for referenced comparable companies (tickers/exchanges as of June 2026).NAU – AMERICAN NEWS GROUP DISCLAIMER:
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a digital media distribution and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is being distributed by American News Group on behalf of Market IQ Media Group Inc. ("MIQ"). Regarding this publication, MIQ has been paid a fee for NevGold Corp. advertising and digital media from Creative Direct Marketing Group ("CDMG"). There may be 3rd parties who may have shares of NevGold Corp., and may liquidate their shares which could have a negative effect on the price of the stock. The owner/operator of MIQ does not currently own shares of NevGold Corp. but reserves the right to buy and sell, and will buy and sell shares of NevGold Corp. at any time without any further notice commencing immediately and ongoing. This potential for trading constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this, individuals are strongly encouraged to not use this publication as the basis for any investment decision. Please let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been reviewed and approved on behalf of NevGold Corp. by CDMG.While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. View original content to download multimedia:https://www.prnewswire.com/news-releases/americas-antimony-gap-is-washingtons-problem--and-nevgold-is-racing-to-help-close-it-302792809.html Original: America's Antimony Gap Is Washington's Problem -- and NevGold Is Racing to Help Close It

2. Conversion Terms

Convertible at US$27.40/share, a 32.5% premium to the stock price at pricing (US$20.68).! [$18.88 6am]

40% bargain!.. not counting the 2.5% interest on the cash 🤑
$ALM

Almonty Industries Prices Oversubscribed US$700 Million Convertible Senior Notes OfferingJune 5, 2026 1:09 AM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) today announced the pricing of its oversubscribed offering of US$700,000,000 aggregate principal amount of 2.25% convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on June 9, 2026, subject to customary closing conditions. Almonty also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$100,000,000 aggregate principal amount of notes. The notes will be senior, unsecured obligations of Almonty and will accrue interest at a rate of 2.25% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2027. The notes will mature on July 1, 2031, unless earlier repurchased, redeemed or converted. Before April 1, 2031, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after April 1, 2031, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Almonty will settle conversions by delivering common shares, or may choose to pay or deliver, as applicable, either cash or a combination of cash and common shares, at Almonty’s election. The initial conversion rate is 36.4950 common shares per US$1,000 principal amount of notes, which represents an initial conversion price of approximately US$27.40 per common share. The initial conversion price represents a premium of approximately 32.5% over the last reported sale price of US$20.68 per common share on June 4, 2026. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events. The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Almonty’s option at any time, and from time to time, on or after July 1, 2029 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per common share exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole and not in part, at Almonty’s option at any time in connection with certain changes in tax law. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If a “fundamental change” (as defined in the indenture for the notes) occurs, then, subject to a limited exception, Almonty will be required to offer to each noteholder to repurchase its notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. Almonty estimates that the net proceeds from the offering will be approximately US$675.9 million (or approximately US$772.7 million if the initial purchasers fully exercise their option to purchase additional notes), after deducting the initial purchasers’ discounts and commissions and Almonty’s estimated offering expenses. Almonty intends to use approximately US$83.0 million of the net proceeds to fund the cost of entering into the capped call transactions described below. Almonty intends to use approximately US$50.0 million of the remainder of the net proceeds to refinance existing debt and liabilities and approximately US$543.0 million of the remainder of the net proceeds for working capital and general corporate purposes, which may include, without limitation, acquisitions of assets or businesses. If the initial purchasers exercise their option to purchase additional notes, then Almonty intends to use a portion of the additional net proceeds to fund the cost of entering into additional capped call transactions as described below. In connection with the pricing of the notes, Almonty entered into privately negotiated capped call transactions with one or more of the initial purchasers of the notes and/or their affiliates or other financial institutions (the “option counterparties”). The capped call transactions will initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of common shares initially underlying the notes. If the initial purchasers exercise their option to purchase additional notes, then Almonty expects to enter into additional capped call transactions with the option counterparties. The cap price of the capped call transactions will initially be US$41.36 per share, which represents a premium of 100% over the last reported sale price of Almonty’s common shares of US$20.68 per share on June 4, 2026, and is subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected generally to reduce the potential dilution to Almonty’s common shares upon any conversion of the notes and/or offset any potential cash payments Almonty is required to make in excess of the principal amount of converted notes, as the case may be, upon conversion of the notes. If, however, the market price per common share, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. Almonty has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to Almonty’s common shares and/or purchase Almonty’s common shares concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Almonty’s common shares or the notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Almonty’s common shares and/or purchasing or selling Almonty’s common shares or other securities of Almonty in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and (x) are likely to do so during the relevant valuation period under the capped call transactions and (y) are likely to do so following any early conversion or repurchase of the notes by Almonty, if Almonty elects to unwind a corresponding portion of the capped call transactions in connection with such early conversion or repurchase). This activity could also cause or avoid an increase or a decrease in the market price of Almonty’s common shares or the notes, which could affect the ability to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares and value of the consideration that noteholders will receive upon conversion of the notes. The offer and sale of the notes and any common shares issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any common shares issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. The closing of the offering is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX. About Almonty Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. Forward-Looking Statements 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 expected amount and the intended use of the net proceeds, the effects of entering into, the capped call transactions described above, and the advancement of the Sangdong Mine. 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 material adverse changes in our industry or the global economy, including interest rate fluctuations, inflationary pressures, supply chain disruptions, and commodity market volatility; trends in our industry and markets, including the competitive environment; our ability to complete the offering on the terms described herein or at all; and our intended use of the net proceeds of the offering. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026 under the heading “Risk Factors” and in the Company’s management’s discussion and analysis for the three months ended March 31, 2026 and 2025 dated May 11, 2026 under the heading “Risks and Uncertainties”, the satisfaction of the closing conditions related to the offering and the risk that any corporate governance changes or alignments will not be implemented and/or that one or more directors may not be re-elected at the Company’s upcoming annual general meeting of shareholders. 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 could 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. Moreover, Almonty may not consummate the offering described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604069903/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us Original: Almonty Industries Prices Oversubscribed US$700 Million Convertible Senior Notes Offering

Almonty Industries Announces Proposed Convertible Senior Notes OfferingJune 4, 2026 5:00 PM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) today announced its intention to offer, subject to market and other conditions, $700,000,000 aggregate principal amount of convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Almonty also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $100,000,000 aggregate principal amount of notes. The notes will be senior, unsecured obligations of Almonty, will accrue interest payable semi-annually in arrears and will mature on July 1, 2031, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Almonty will settle conversions by delivering common shares, or may choose to pay or deliver, as applicable, either cash or a combination of cash and common shares, at Almonty’s election. The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Almonty’s option at any time, and from time to time, on or after July 1, 2029 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per common share exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole and not in part, at Almonty’s option at any time in connection with certain changes in tax law. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, Almonty will be required to offer to each noteholder to repurchase its notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering. Almonty intends to use a portion of the net proceeds from the offering to fund the cost of entering into the capped call transactions described below. Almonty intends to use the remainder of the net proceeds from the offering to refinance existing debt and liabilities and for working capital and general corporate purposes, which may include, without limitation, acquisitions of assets or businesses. If the initial purchasers exercise their option to purchase additional notes, then Almonty intends to use a portion of the additional net proceeds to fund the cost of entering into additional capped call transactions as described below. In connection with the pricing of the notes, Almonty expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers of the notes and/or their affiliates or other financial institutions (the “option counterparties”). The capped call transactions are expected to initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of common shares that will initially underlie the notes. If the initial purchasers exercise their option to purchase additional notes, then Almonty expects to enter into additional capped call transactions with the option counterparties. The capped call transactions are expected generally to reduce the potential dilution to Almonty’s common shares upon any conversion of the notes and/or offset any potential cash payments Almonty is required to make in excess of the principal amount of converted notes, as the case may be, upon conversion of the notes. If, however, the market price per common share, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. Almonty has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to Almonty’s common shares and/or purchase Almonty’s common shares concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Almonty’s common shares or the notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Almonty’s common shares and/or purchasing or selling Almonty’s common shares or other securities of Almonty in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and (x) are likely to do so during the relevant valuation period under the capped call transactions and (y) are likely to do so following any early conversion or repurchase of the notes by Almonty, if Almonty elects to unwind a corresponding portion of the capped call transactions in connection with such early conversion or repurchase). This activity could also cause or avoid an increase or a decrease in the market price of Almonty’s common shares or the notes, which could affect the ability to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares and value of the consideration that noteholders will receive upon conversion of the notes. The offer and sale of the notes and any common shares issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any common shares issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. The closing of the offering is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX. About Almonty Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. Forward-Looking Statements 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 anticipated terms of the notes being offered, the completion, timing and size of the proposed offering, the intended use of the proceeds, the anticipated terms of, and the effects of entering into, the capped call transactions described above, and the advancement of the Sangdong Mine. 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 material adverse changes in our industry or the global economy, including interest rate fluctuations, inflationary pressures, supply chain disruptions, and commodity market volatility; trends in our industry and markets, including the competitive environment; our ability to complete the offering on the terms described herein or at all; and our intended use of the net proceeds of the offering. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026 under the heading “Risk Factors” and in the Company’s management’s discussion and analysis for the three months ended March 31, 2026 and 2025 dated May 11, 2026 under the heading “Risks and Uncertainties”, and the risk that any corporate governance changes or alignments will not be implemented and/or that one or more directors may not be re-elected at the Company’s upcoming annual general meeting of shareholders. 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 could 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. Moreover, Almonty may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604708106/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us Original: Almonty Industries Announces Proposed Convertible Senior Notes Offering

Almonty Industries Announces Proposed Convertible Senior Notes OfferingJune 4, 2026 5:00 PM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1) today announced its intention to offer, subject to market and other conditions, $700,000,000 aggregate principal amount of convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Almonty also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $100,000,000 aggregate principal amount of notes. The notes will be senior, unsecured obligations of Almonty, will accrue interest payable semi-annually in arrears and will mature on July 1, 2031, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Almonty will settle conversions by delivering common shares, or may choose to pay or deliver, as applicable, either cash or a combination of cash and common shares, at Almonty’s election. The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Almonty’s option at any time, and from time to time, on or after July 1, 2029 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per common share exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. In addition, the notes will be redeemable, in whole and not in part, at Almonty’s option at any time in connection with certain changes in tax law. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, Almonty will be required to offer to each noteholder to repurchase its notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering. Almonty intends to use a portion of the net proceeds from the offering to fund the cost of entering into the capped call transactions described below. Almonty intends to use the remainder of the net proceeds from the offering to refinance existing debt and liabilities and for working capital and general corporate purposes, which may include, without limitation, acquisitions of assets or businesses. If the initial purchasers exercise their option to purchase additional notes, then Almonty intends to use a portion of the additional net proceeds to fund the cost of entering into additional capped call transactions as described below. In connection with the pricing of the notes, Almonty expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers of the notes and/or their affiliates or other financial institutions (the “option counterparties”). The capped call transactions are expected to initially cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of common shares that will initially underlie the notes. If the initial purchasers exercise their option to purchase additional notes, then Almonty expects to enter into additional capped call transactions with the option counterparties. The capped call transactions are expected generally to reduce the potential dilution to Almonty’s common shares upon any conversion of the notes and/or offset any potential cash payments Almonty is required to make in excess of the principal amount of converted notes, as the case may be, upon conversion of the notes. If, however, the market price per common share, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. Almonty has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to Almonty’s common shares and/or purchase Almonty’s common shares concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Almonty’s common shares or the notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Almonty’s common shares and/or purchasing or selling Almonty’s common shares or other securities of Almonty in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and (x) are likely to do so during the relevant valuation period under the capped call transactions and (y) are likely to do so following any early conversion or repurchase of the notes by Almonty, if Almonty elects to unwind a corresponding portion of the capped call transactions in connection with such early conversion or repurchase). This activity could also cause or avoid an increase or a decrease in the market price of Almonty’s common shares or the notes, which could affect the ability to convert the notes, and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares and value of the consideration that noteholders will receive upon conversion of the notes. The offer and sale of the notes and any common shares issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any common shares issuable upon conversion of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. The closing of the offering is subject to receipt of all necessary regulatory approvals, including the acceptance by the TSX. About Almonty Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply-chain security and defense readiness. Forward-Looking Statements 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 anticipated terms of the notes being offered, the completion, timing and size of the proposed offering, the intended use of the proceeds, the anticipated terms of, and the effects of entering into, the capped call transactions described above, and the advancement of the Sangdong Mine. 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 material adverse changes in our industry or the global economy, including interest rate fluctuations, inflationary pressures, supply chain disruptions, and commodity market volatility; trends in our industry and markets, including the competitive environment; our ability to complete the offering on the terms described herein or at all; and our intended use of the net proceeds of the offering. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026 under the heading “Risk Factors” and in the Company’s management’s discussion and analysis for the three months ended March 31, 2026 and 2025 dated May 11, 2026 under the heading “Risks and Uncertainties”, and the risk that any corporate governance changes or alignments will not be implemented and/or that one or more directors may not be re-elected at the Company’s upcoming annual general meeting of shareholders. 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 could 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. Moreover, Almonty may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604708106/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us Original: Almonty Industries Announces Proposed Convertible Senior Notes Offering

The Metal China Controls Faces a 2027 U.S. Deadline -- and a Nevada Mine Just Made Its MoveJune 2, 2026 8:55 AM
PR Newswire (Canada) Issued on behalf of Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2)VANCOUVER, BC, June 2, 2026 /CNW/ -- Equity Insider News Commentary — Tungsten spent the better part of a decade as an afterthought in Western industrial policy—a metal everyone needed and almost no one outside China actually mined. That complacency is now colliding with a hard procurement deadline. After January 1, 2027, U.S. defense supply chains face restrictions on Chinese, Russian, Iranian and North Korean tungsten that reach from the mine all the way through finished powders, heavy alloys and magnets, a cliff written into DFARS 252.225-7052 and 10 U.S.C. §4872. The result has been a scramble to stand up non-Chinese supply, and a rerating of nearly every company with a credible path to producing the metal in a friendly jurisdiction. Against that backdrop, Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) has taken a step that, on its own, looks procedural—but in this market is anything but. The company has engaged KC Harvey Environmental, LLC to lead drill-permitting at its 100%-owned, past-producing Rowland Tungsten Property in Elko County, Nevada, and has opened formal dialogue with the U.S. Forest Service district that oversees the ground. For a junior explorer, the permitting clock and the procurement clock are now running in the same direction at the same time.See why Rowland is positioned for the tungsten supply squeeze — view the full Western Star investor briefing here.From the historical record to a federal applicationIn its June 3, 2026 release, Western Star confirmed it has retained KC Harvey Environmental to prepare and submit a Plan of Operations—USDA Forest Service form FS-2800-5, filed under 36 CFR 228A—covering the company's proposed Phase 2 drilling program at Rowland, and to manage the associated National Environmental Policy Act (NEPA) review. The company has also begun engagement with the Jarbidge District Ranger of the Mountain City–Ruby Mountains–Jarbidge Ranger District of the Humboldt-Toiyabe National Forest, the relevant federal authority for the property.The Plan of Operations is the principal authorization a company needs to drill on National Forest System lands, and it is the document on which a project's timeline frequently lives or dies. KC Harvey's scope, as described by the company, covers preparation of the Plan of Operations, supporting environmental baseline and reclamation planning, and coordination of the NEPA review with the Forest Service. Western Star says it intends to advance the federal application in parallel with state-level reclamation permitting and its ongoing Phase 1 and Phase 2 exploration programs at Rowland.The choice of consultant is itself a signal of intent. KC Harvey Environmental is a Bozeman, Montana–based firm specializing in mining permitting, reclamation and NEPA support across the western United States. Its mining services are led by founder Kevin Harvey, M.Sc., a board-certified professional soil scientist and the current president of the American Society of Mining and Reclamation. Bringing in a permitting specialist with that profile is the kind of move that tends to precede a serious push toward the drill bit rather than a placeholder filing."Engaging KC Harvey and opening dialogue with the Jarbidge District Ranger is the logical next step for Rowland," commented Blake Morgan, CEO and President of Western Star. "With Phase 1 field work confirming a materially larger exploration opportunity than the historical record suggested, our priority is to advance permitting in parallel with exploration so we are positioned to drill test the Rowland targets without delay."That last point—permitting in parallel rather than in sequence—is the strategic core of the announcement. Juniors often treat permitting as something to start once the geology is fully de-risked. With a 2027 procurement cliff approaching and tungsten supply tight, Western Star is treating the regulatory pathway as a critical-path item to be advanced alongside the science, not after it.Why "previously disturbed" mattersRowland's history is not just color—it is potentially a permitting advantage. The property hosts three confirmed zones of historical tungsten workings, and the company expects that the extensive existing disturbance will support its case that the project area is previously disturbed ground. In NEPA terms, a site that has already seen mining activity can, in many cases, follow a more streamlined environmental review than a true greenfield disturbance, because the baseline conditions and reclamation considerations are different.The historical numbers at Rowland are modest in absolute terms but striking in grade. Recorded output includes roughly 4.5 tons grading 3.38% WO3 in 1943, and on the order of 1,000 tons at 0.5–1.0% WO3 in the mid-1950s—figures that speak to high-grade scheelite mineralization left behind when tungsten prices collapsed and cheaper Chinese supply took over. Those grades are precisely the kind of legacy that becomes interesting again when the metal trades at multiples of where it sat a few years ago, and when buyers will pay a premium for units that never touch a Chinese supply chain.Western Star's technical disclosure on Rowland has been reviewed and approved by Jasper Mowatt, MIMMM and MAusIMM, a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Investors should note that historical production figures pre-date modern reporting standards and have not been verified as current mineral resources; they are indicative of the tenor of past mining rather than a present-day resource estimate.Want the full picture on Rowland's high-grade history and Phase 2 targets? Explore the project breakdown here.A market that has changed beyond recognitionThe reason a single permitting engagement carries weight is the metal market behind it. According to Fastmarkets, ammonium paratungstate (APT) assessments for the 88.5% WO3 CIF Rotterdam and Baltimore duty-free benchmark climbed from roughly $900–940 per metric tonne unit in January to a $1,650–1,900 range by mid-February as buyers scrambled to secure units—moves that trace directly to China's control of more than three-quarters of global supply and its tightening export posture. Pricing has stayed volatile and elevated since, with some assessments through the spring running well above $3,000 per mtu even as softer Chinese domestic demand introduced two-way risk into the spot market.The policy layer reinforces the price signal. China's 2026 mining quotas are being cut a further 8%, deepening a cumulative reduction relative to 2024 levels, and S&P Global analysis cited in market commentary has noted that even a mine breaking ground today would struggle to deliver meaningful supply before about 2030. For Western buyers facing the 2027 DFARS procurement cliff, that timeline gap is the entire investment thesis: the demand is mandated, the lead times are long, and the qualified Western supply simply does not yet exist at scale.It is worth distinguishing the company's primary news date from this commentary. Western Star issued its KC Harvey announcement on June 3, 2026; this article is syndicated market commentary published by USA News Group on behalf of Market IQ Media Group, Inc. and should not be read as the company's own disclosure.Four tungsten names investors are watching alongside Western StarWestern Star sits at the early, pre-drill end of the tungsten spectrum, which makes the broader peer group useful context for understanding where capital is flowing as the reshoring trade matures. Four operators—spanning producers and developers across North America, Europe, Asia and Australia—illustrate the range.Almonty Industries Inc. (NASDAQ: ALM) (TSX: AII) is the name most often cited as the template for what a Western tungsten producer can become. In March 2026, Almonty completed Phase 1 commissioning of its Sangdong tungsten mine in South Korea—back in production after more than three decades—with the plant designed to process around 640,000 tonnes of ore annually for roughly 2,300 tonnes of tungsten concentrate per year. A Phase 2 expansion slated for 2027 is designed to roughly double that output, with the company targeting supply of about 40% of global tungsten demand outside China. Almonty has relocated its corporate headquarters to Montana and frames Sangdong explicitly around U.S. defense procurement requirements that mandate non-China sourcing after 2027.Guardian Metal Resources PLC (NYSE American: GMTL) (LON: GMET) (OTCQB: GMTLF) is arguably the closest structural and geographic comparison to Western Star. The company is advancing two past-producing Nevada tungsten projects—Pilot Mountain and Tempiute—and, per its May 6, 2026 update, is progressing a pre-feasibility study at Pilot Mountain supported by a U.S. Department of War $6.2 million Defense Production Act Title III investment, with a mine Plan of Operations targeted for submission to U.S. regulators in August 2026. Guardian completed a NYSE American listing on March 20, 2026. Its permitting-and-feasibility trajectory on Nevada ground is, in effect, a few steps ahead on the same road Western Star is now starting down at Rowland.EQ Resources Limited (ASX: EQR) rounds out the producer side from the Australia–Europe axis. Per its H1 FY2026 results, the company lifted half-year revenue 26% to A$43.96 million on tungsten concentrate production of 67,126 mtu across its Mt Carbine mine in Queensland and Barruecopardo mine in Spain, while narrowing its net loss sharply. Management has guided to a Mt Carbine ramp-up toward roughly 1,750 tonnes of WO3 annually by the end of 2026 as the operation moves into higher-grade in-situ ore. EQ underscores how operating leverage at an existing producer can swing results quickly when tungsten prices are running.American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FRA: RK90) is the closest peer on the explorer end of the spectrum. The company is advancing the IMA Mine Project in Lemhi County, Idaho—a past-producing underground tungsten mine on 22 patented claims that yielded approximately 199,449 mtu of WO3 between 1945 and 1957. American Tungsten is running a multi-rig drilling program to define a modern resource and assess a potential restart of underground operations, pursuing a phased strategy that begins with surface tailings before moving to underground rehabilitation. Like Western Star, its thesis rests on reactivating a high-grade historical asset rather than discovering one from scratch.Across all four, the common thread is the same one driving interest in Western Star: a Western jurisdiction, a defensible supply-chain story, and a buyer base that is increasingly willing—and in defense contexts, legally required—to pay up for non-Chinese tungsten.What to watch from hereFor Western Star specifically, the near-term catalysts now cluster around the permitting and exploration programs running in tandem. The company has said it will provide further updates upon submission of the Plan of Operations and as the NEPA review progresses—so the filing of the FS-2800-5 itself becomes the first concrete milestone to watch, followed by the Forest Service's determination on the appropriate level of environmental review. A streamlined pathway predicated on previously disturbed ground would be a meaningful de-risking event; a more involved review would extend the runway to drilling.Layered on top is the policy calendar. Canada's Critical Mineral Exploration Tax Credit framework, carried in Budget 2025 measures that received Royal Assent on March 26, 2026, offers a 30% credit stacked on top of the existing flow-through deduction structure for qualifying agreements—an increasingly relevant financing lever for tungsten-focused juniors looking to fund drill programs. And the 2027 federal procurement cliff continues to compress the window in which a credible, friendly-jurisdiction tungsten story can establish itself before defense buyers lock in their qualified suppliers.None of this changes the fundamental reality that Rowland remains an early-stage exploration property whose grades are documented in the historical record rather than a modern resource estimate. But the company's decision to put a specialist permitting consultant on the file and open the federal dialogue now—rather than wait—tells investors how Western Star reads the moment: a market where the scarce commodity may end up being not tungsten itself, but the time and permits required to bring Western ounces to surface before the deadline arrives.Stay ahead of the next Rowland milestone — get updates and the full Western Star story here.About Western Star ResourcesWestern Star Resources Inc. is a mineral exploration and development company whose objective is to increase shareholder value through cost-effective exploration, the acquisition of further exploration properties, and partnerships by joint venture or sale with industry leaders. The company's 100%-owned, past-producing Rowland Tungsten Property is located in Elko County, Nevada. The company also owns nine non-surveyed contiguous mineral claims totaling 4,740 hectares in the Revelstoke mining division of British Columbia, located approximately 50 kilometres southeast of Revelstoke, B.C.CONTACTEquity Insider | info @therooster-2873Disclaimer / DisclosureNothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. equity-insider.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has previously been paid a fee for Western Star Resources Inc. advertising and digital media from the company directly which has since expired. There may be 3rd parties who may have shares Western Star Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. Previous compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ do not own any shares of Western Star Resources Inc. but reserve the right to buy and sell, and will buy and sell shares of Western Star Resources Inc. at any time hereafter without any further notice. We also expect further compensation in the future as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Certain statements in this article constitute "forward-looking information" within the meaning of applicable securities legislation, including statements regarding permitting timelines, exploration and drilling programs, NEPA review outcomes, and tungsten market conditions. Such statements are subject to risks and uncertainties, including risks associated with exploration activity, regulatory and permitting processes, equipment availability, commodity prices, and other factors. Readers are advised not to place undue reliance on forward-looking information. Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of company disclosures referenced herein.Logo - https://mma.prnewswire.com/media/2840019/5997529/Equity_Insider_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/the-metal-china-controls-faces-a-2027-us-deadline--and-a-nevada-mine-just-made-its-move-302787490.htmlSOURCE Equity Insider Original: The Metal China Controls Faces a 2027 U.S. Deadline -- and a Nevada Mine Just Made Its Move

10 days in a channel

10 Days In June John Wetton - please post, thanks..

Almonty Reminds Shareholders to Vote to Support Continued Transformation into a Leading Tungsten ProducerJune 1, 2026 7:30 AM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten critical to U.S. defense and advanced technology industries, reminds shareholders to support the Company’s ongoing transformation into a leading global tungsten producer by submitting their votes in advance of the Company’s annual general meeting of shareholders scheduled for June 9, 2026 (the “Meeting”). Shareholders are encouraged to vote well in advance of the proxy deadline at 10:00 a.m. Eastern time on June 5, 2026. Lewis Black, Chairman, President and Chief Executive Officer of the Company, stated: “Almonty has delivered transformational results over the past year, rapidly advancing its strategic role in the Western tungsten supply chain in the United States, Korea, Portugal and Spain. Under the stewardship of its experienced board of directors and management, the Company achieved a series of significant milestones in 2025, including: The commencement of active mining operations at the Company’s flagship Sangdong Tungsten Mine, which is expected to become one of the largest and longest-life tungsten mines outside of China; The initiation of large-scale drilling programs at the Company’s Sangdong Molybdenum Project in South Korea and its Panasqueira Mine in Portugal; A successful US$90 million initial public offering on the Nasdaq Capital Market, as well as a successful US$129 million follow-on public offering in December 2025; The strategic establishment of the Company’s corporate headquarters in the United States; The successful acquisition of 100% ownership of the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana, extending the Company’s geographic footprint into North America; The addition of two highly experienced independent directors to the board and several highly qualified executives to the Company’s senior management team, ensuring that the board and management team are well positioned to oversee the next phase of the Company’s growth. “These accomplishments are a result of the strategic direction set by the board and executed by senior management resulting in strong momentum for Almonty as it scales to meet surging global demand for tungsten as the industry leader.” “As Almonty continues to grow in prominence, the board is committed to proactively ensuring that the Company’s corporate governance framework and board composition reflect the ambition and sophistication of its business and the expectations of our shareholders. The board is committed to a thoughtful approach to its governance maturation through evolving its independence profile focused on necessary skills and diversity that reflect the expectations of our expanding stakeholder base, growing prominence in U.S. capital markets, and the heightened expectations that come with being a global industry leader,” concluded Black. Your Vote Powers Almonty’s Future Each of the directors standing for re-election at the Meeting has been nominated because of the critical role they play in guiding the Company’s strategy and delivering value to shareholders. The board unanimously recommends that shareholders vote FOR the re-election of all director nominees set out in the Company’s management information circular dated April 29, 2026 (the “Circular”) to ensure continuity of leadership at this pivotal time as it focuses on the Company’s growth and aligns its corporate governance framework with future requirements. Shareholders are encouraged to vote in advance of the Meeting by submitting a form of proxy or voting instruction form in accordance with the instructions set out in the Circular. To be effective, a proxy must be submitted by 10:00 a.m. Eastern time on June 5, 2026. Beneficial shareholders who hold their shares through a broker or other intermediary should submit a voting instruction form by the deadline specified by their intermediary, which may be earlier than the deadline for submitting proxies. In connection with the Meeting, the Company has engaged Sodali & Co (“Sodali”) as proxy solicitation agent and shareholder communications advisor to, among other things, assist in the solicitation of proxies. For more information or if you require assistance with voting, please contact Sodali at: Sodali & Co
430 Park Ave., 14th Floor
New York, NY 10022
Phone: (203) 658-9400
Email: ALM@info.sodali.com About Almonty Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 be a major contributor to the global non-China tungsten supply chain 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 and the United States, 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 https://almonty.com. Legal Notice The Company has agreed to pay Sodali fees of approximately US$37,500 for its services, in addition to its reasonable out-of-pocket expenses. The costs of the proxy solicitation will be borne solely by the Company. The foregoing information about Sodali’s engagement is intended to supplement, update and amend the Circular. 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 advancement of the Sangdong Tungsten Mine, the Sangdong Molybdenum Project and the Panasqueira Mine, the board and management team’s oversight of the Company’s growth, the Company’s corporate governance framework, the expected production capacity of the Sangdong Tungsten Mine, the Company’s expected share of global non-China tungsten production, adjustments to the Company’s corporate governance framework, and the future growth prospects of the Company. 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 successful development of operations at the Sangdong Tungsten Mine, the Sangdong Molybdenum Project and the Panasqueira Mine, the availability of funding for continued development, and the expected trajectory of tungsten prices. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, including, without limitation, the risks identified in the Company's annual information form for the year ended December 31, 2025 dated March 18, 2026, and the risk that any corporate governance changes or alignments will not be implemented and/or that one or more directors may not be re-elected at the Meeting. 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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601655974/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us Original: Almonty Reminds Shareholders to Vote to Support Continued Transformation into a Leading Tungsten Producer

Stage Catalyst Probability Price Range
1 KfW/ECA approval 70% $21.5–$23
2 Signed loan agreement 55% $24.5–$27
3 Full financing package 45% $28–$32
4 First drawdown + construction 40% $34–$40
5 Strategic partner 25% $42–$50

I [Natrav54] ran the numbers through AI using $2500 per mtu for tungsten apt and it came up with these numbers for 2028. Its factoring in full production in SK, Montana, Portugal and the Moly property. That was my input and here is the answer. Anyone wish to comment:


At $2,500/MTU, Almonty becomes:


A $2.3B EBITDA producer

A $1.7B netincome company

A $7/share EPS machine

A $70–$140 USD stock depending on multiple


This is the “tungsten shock” scenario — the one where Sangdong becomes a strategic national asset and the market rerates the entire sector.


At today’s $19.66, the market is pricing none of this in.


https://stockhouse.com/companies/bullboard?symbol=t.aii&postid=37014300

Almonty Industries Set to Join Large-Cap Russell 1000® Index and Broad-Market Russell 3000® IndexMay 28, 2026 7:30 AM
Business Wire Almonty Industries Inc. (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced that it is set to join the Large-Cap Russell 1000® Index, as well as the Broad-Market Russell 3000® Index, at the conclusion of the 2026 Russell indexes reconstitution, according to a preliminary list of additions posted by FTSE Russell on Friday, May 22, 2026. Almonty’s inclusion is expected to become effective when the market opens on Monday, June 29, 2026. The June reconstitution of the Russell US Indexes captures up to the 4,000 largest US stocks as of April 30, 2026, ranking them by total market capitalization. Almonty’s membership in the Russell 3000® Index, which remains in place for half a year beginning 2026, means automatic inclusion in the large-cap Russell 1000® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Lewis Black, Chairman, President and Chief Executive Officer of Almonty Industries, commented: “We are honoured to be set to join the Russell 3000 and 1000 indices, which we believe reflects the significant operational and financial progress Almonty has made over the past year as we firmly establish ourselves as the cornerstone of the Western tungsten supply chain. With our flagship Sangdong Mine in South Korea now coming on line, the relocation of our corporate headquarters to the United States, and a fortress balance sheet to support continued growth, we believe inclusion in the Russell indexes will further expand our visibility within the institutional investment community and broaden our shareholder base as we execute on our long-term strategic vision.” Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2025, approximately $12.2 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, please visit the “Russell Reconstitution” section on the FTSE Russell website. About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $21.20 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by LSEG. For more information, visit FTSE Russell. About Almonty Industries Inc. Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to supply a significant portion 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 and the United States, 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 https://almonty.com. Forward-Looking Statements 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 Company joining the Large-Cap Russell 1000® Index, as well as the Broad-Market Russell 3000® Index, at the conclusion of the 2026 Russell indexes reconstitution. 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. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the Company joining the Large-Cap Russell 1000® Index, as well as the Broad-Market Russell 3000® Index, at the conclusion of the 2026 Russell indexes reconstitution as well as the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026 and in the Company’s management’s discussion and analysis dated May 11, 2026 for the three months ended March 31, 2026 and 2025. 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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528919556/en/ Company
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations
Lucas A. Zimmerman
Managing Director
MZ Group – MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us Original: Almonty Industries Set to Join Large-Cap Russell 1000® Index and Broad-Market Russell 3000® Index

U.S. Tungsten Supply Chain Tightens As A Nevada Past-Producer Mobilizes Drone Geophysics And Property-Wide Soil Geochemistry Toward Drill-Ready TargetsMay 27, 2026 9:05 AM
PR Newswire (Canada) Issued on behalf of Western Star Resources Inc. With APT Rotterdam tungsten prices up roughly 900% over twelve months, the January 1, 2027 DFARS procurement cliff on Chinese-origin tungsten now eight months away, and Canadian CMETC tax architecture actively subsidizing tungsten exploration, one Nevada junior is moving from historical production to modern-vintage drill targeting.USA News Group News CommentaryVANCOUVER, BC, May 27, 2026 /CNW/ -- The Western tungsten supply problem has reached the operational tooling stage. APT Rotterdam tungsten prices traded at approximately US$3,185 per metric tonne unit in early May 2026 — a roughly 900% increase over the past twelve months — driven by Chinese export licensing controls, the looming January 1, 2027 DFARS 252.225-7052 procurement cliff on Chinese, Russian, Iranian, and North Korean-origin tungsten products across the U.S. defense supply chain, and the Canadian Critical Mineral Exploration Tax Credit (CMETC) expansion that now actively subsidizes tungsten exploration under Bill C-15 (Royal Assent March 26, 2026). Inside that landscape, Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2), Almonty Industries Inc. (TSX: AII) (OTCQX: ALMTF), Guardian Metal Resources PLC (AIM: GMET) (OTCQX: GMTLF), EQ Resources Limited (ASX: EQR) (OTCPK: EQRMF), and Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) collectively span the spectrum of Western-aligned tungsten and critical-mineral exposure.Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (FRA: 4K2) on May 21, 2026 announced that its technical team has mobilized to the Company's Rowland Tungsten Property in Elko County, Nevada, to commence the first phase of its 2026 field exploration program. The initial program includes a high-resolution drone magnetic survey, systematic prospecting, sampling of historical waste dumps and workings, and a property-wide soil geochemistry campaign — designed to refine the Company's understanding of the prospective tungsten-bearing skarn horizons. The objective: generate drill-ready targets during the 2026 field season.Blake Morgan, CEO and President of Western Star, framed the program as the first modern exploration program ever conducted on the past-producing Rowland tungsten system. The property has documented historical production but has not previously been evaluated using modern drone geophysics and systematic property-wide geochemistry. Mineralization at Rowland is hosted in skarn zones up to 100 feet wide, developed along intrusive contacts between Cretaceous-aged quartz monzonite stock and a host sequence of limestones, shales, and quartzites — with scheelite as the primary tungsten mineral. Drone geophysical results are expected in the coming weeks, with soil samples submitted for certified laboratory analysis.The geological foundation under Rowland is substantial. Historical production figures — based on previous records and not yet independently verified by the Company — include 4.5 tons at 3.38% WO3 shipped in 1943 and approximately 1,000 tons at 0.5–1.0% WO3 produced between 1954 and 1956. These represent the documented past-producing footprint that the modern 2026 program is designed to convert into structurally controlled, geochemically validated drill targets. Western Star expects to integrate the drone geophysical results, soil geochemistry, and historical production data into priority drill target generation, with drill permitting also progressing in parallel.The macro environment under the program is unusually supportive. The January 1, 2027 DFARS 252.225-7052 procurement cliff — which codifies under 10 U.S.C. §4872, NDAA Section 844 (FY2021), and Section 854 (FY2024) — extends prohibitions across the entire defense supply chain from mining through finished tungsten metal powders, tungsten heavy alloys, samarium-cobalt magnets, NdFeB magnets, and tantalum metals/alloys. The Canadian CMETC framework — expanded under Budget 2025 (November 4, 2025) and enacted via Bill C-15 (Royal Assent March 26, 2026) — added tungsten to the eligible critical minerals list, providing a 30% non-refundable credit on top of the 100% Canadian Exploration Expense deduction for FT share agreements through March 31, 2027.Western Star also recently engaged Plutus Invest & Consulting GmbH — a Bremen-based investor relations and marketing firm — under a mandate fee of €200,000 through April 30, 2027, positioning the Company for European market awareness during the back half of 2026 and through Q1 2027 — precisely the window during which the U.S. federal procurement cliff takes effect and the Company's maiden drill program is generating its first modern technical results. The scientific and technical information at Rowland has been reviewed by Jasper Mowatt, MAusIMM, a Qualified Person under NI 43-101. For more company information, visit USA News Group. In other industry developments and happenings in the market include: Almonty Industries Inc. (TSX: AII) (OTCQX: ALMTF) has continued to advance commissioning and ramp-up of its Sangdong tungsten project in South Korea — one of the largest tungsten mines outside of China and the central pillar of the Western tungsten capacity build-out. Sangdong's projected mine life and production scale position Almonty as the single largest Western-aligned source of new tungsten production capacity heading into the 2026–2027 window. The Company's existing producing assets in Portugal and Spain provide additional near-term cash flow and operational platform under the tightening Western tungsten procurement environment.Almonty's strategic positioning — operating producing tungsten assets while simultaneously commissioning the largest non-China tungsten development project in the Western world — places AII as the public-market reference for tungsten production scale-up. As the January 2027 DFARS procurement cliff approaches, the supply premium attaching to allied tungsten production capacity continues to widen — a structural feature of the broader Western critical-minerals capital cycle.Guardian Metal Resources PLC (AIM: GMET) (OTCQX: GMTLF) has continued exploration and resource definition work at its Pilot Mountain tungsten project in Nevada — among the highest-grade tungsten development assets currently positioned in the U.S. critical-minerals procurement environment. The Company's strategic positioning within the U.S. domestic tungsten supply chain build-out has been reinforced by continuing engagement under U.S. Department of War and Defense Production Act-related programs targeting domestic tungsten capacity.Guardian Metal's U.S.-based positioning at Pilot Mountain — combined with its dual AIM/OTCQX listing structure — provides the public-market reference for U.S. tungsten development assets at advanced exploration stage. The procurement environment is increasingly differentiating among tungsten exposures by jurisdictional alignment, project stage, and resource verification — a sequencing the broader sector has been pricing into the development-stage assets through the back half of 2025 and into 2026.EQ Resources Limited (ASX: EQR) (OTCPK: EQRMF) has continued to advance its tungsten production operations at the Mt Carbine project in Queensland, Australia — one of the few currently producing tungsten assets in the broader Western-allied production complex. The Company has continued to leverage the structurally higher tungsten price environment through 2025 and into 2026, with operations focused on tungsten concentrate production at scale.EQ Resources' positioning as a producing Australian tungsten operator provides the operational reference point for what tungsten production economics look like inside the current commodity price environment — and reinforces the broader structural premium attaching to Western-allied tungsten supply. Australia's positioning as a tier-one mining jurisdiction with growing U.S. defense procurement engagement continues to reinforce the strategic relevance of EQ's production base.Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has continued to expand its critical minerals portfolio through 2026, advancing the Vara Mada (formerly Toliara) Project in Madagascar — renamed January 8, 2026 via the updated feasibility study release. The Vara Mada Project represents one of the largest critical-mineral development assets in the Energy Fuels portfolio, providing rare earth, titanium, and other critical-mineral exposure alongside the Company's established uranium production base. The Company continues to advance its White Mesa Mill in Utah as the primary U.S. processing facility for uranium and rare earth concentrates.Energy Fuels' integrated U.S.-based production and processing infrastructure — anchored by White Mesa Mill — positions UUUU as one of the most operationally diversified critical-minerals platforms in the public market. The Company is renegotiating Vara Mada fiscal terms with the new Randrianirina government in Madagascar following the October 2025 political transition. Across the Western critical-minerals development complex, UUUU's processing capability provides architectural reference for what a vertically integrated critical-minerals producer can look like at scale.Across the comparable set, the message is consistent: Western tungsten supply economics have entered a new phase, U.S. and allied procurement environments are repricing in real time, and the upstream resource layer is where the asymmetry of the trade lives. Western Star Resources' May 21 field mobilization at Rowland — paired with documented historical tungsten production, the Plutus European IR mandate, and the converging DFARS and CMETC policy windows — places the Company at the modern-vintage-exploration entry point inside the broader Western tungsten capital cycle. For investors building exposure to the U.S. tungsten supply chain reshore thesis, WSR deserves a closer look.CONTINUED… Read this and more news for Western Star Resources Inc. at: https://usanewsgroup.com/wsr-landingCONTACT: 
USA News Group
info @therooster-2873Article Sources:https://www.juniorminingnetwork.com/junior-miner-news/press-releases/3243-cse/wsr/203835-western-star-resources-mobilizes-field-team-to-rowland-tungsten-property-and-launches-drone-geophysics-and-property-wide-geochemical-program.htmlhttps://almonty.com/news/https://guardianmetalresources.com/news/DISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has previously been paid a fee for Western Star Resources Inc. advertising and digital media from the company directly. That compensation has since expired. MIQ expects further compensation in the future. There may be 3rd parties who may have shares of Western Star Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. Previous compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ does not currently own shares of Western Star Resources Inc. but reserves the right to buy and sell, and will buy and sell shares of Western Star Resources Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation in the future as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Issued on behalf of Western Star Resources Inc. by USA News Group / Market IQ Media Group, Inc.Logo: https://mma.prnewswire.com/media/2838876/5656770/USA_News_Group_Logo.jpg View original content:https://www.prnewswire.com/news-releases/us-tungsten-supply-chain-tightens-as-a-nevada-past-producer-mobilizes-drone-geophysics-and-property-wide-soil-geochemistry-toward-drill-ready-targets-302783006.htmlSOURCE USA News Group Original: U.S. Tungsten Supply Chain Tightens As A Nevada Past-Producer Mobilizes Drone Geophysics And Property-Wide Soil Geochemistry Toward Drill-Ready Targets

Tungsten's 557% Run Meets a District-Scale Critical-Minerals Story in British ColumbiaMay 26, 2026 10:35 AM
PR Newswire (US) Issued on behalf of GoldHaven Resources Corp.Western governments are scrambling to rebuild non-Chinese tungsten supply as prices break century highs — and a 37,000-hectare project in BC just put itself in the conversationEquity Insider News CommentaryVANCOUVER, BC, May 26, 2026 /PRNewswire/ -- Tungsten has done something almost no other metal has done this decade: ammonium paratungstate (APT) prices have surged roughly 557% since China added tungsten products to its export control list in February 2025, pushing the European benchmark toward US$2,250 per metric ton unit by March 2026[1].  The metal has outpaced gold and copper, and with China still controlling more than 80% of global tungsten production[2], every Western government and defense contractor is suddenly trying to figure out the same thing — where the next non-Chinese supply actually comes from.That question is now driving capital toward GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Almonty Industries Inc. (NASDAQ: ALM), Guardian Metal Resources PLC (NYSE American: GMTL), American Tungsten Corp. (OTCQB: TUNGF), and Energy Fuels Inc. (NYSE American: UUUU).The policy backdrop is just as aggressive as the price chart. Canada's enhanced 30% Critical Mineral Exploration Tax Credit was expanded to include tungsten under Bill C-15, which received Royal Assent on March 26, 2026, and applies to flow-through agreements entered into after November 4, 2025 and on or before March 31, 2027.South of the border, the U.S. Department of Defense Federal Acquisition Regulation Supplement (DFARS 252.225-7052) restricts the acquisition of tungsten metal powder and tungsten heavy alloy that has been mined, refined, separated, melted, or produced in China, Russia, Iran, or North Korea, with the full mine-to-finished-material restriction taking effect on January 1, 2027[3]. Capital is moving toward operators with land in friendly jurisdictions, drill-ready targets, and the geology to back it up — not toward concept stage stories five years out.GoldHaven Highlights Strategic Tungsten and Indium Exposure at MagnoOn May 25, 2026, GoldHaven issued a release highlighting the growing strategic significance of tungsten and indium at its district-scale Magno Project in northern British Columbia, situated within the Cassiar District and covering more than 37,000 hectares of ground prospective for carbonate replacement deposit (CRD), skarn, and porphyry mineralization."Global markets are increasingly recognizing the strategic importance of securing Western sources of tungsten and other critical minerals amid growing supply chain concerns," said Rob Birmingham, CEO of GoldHaven. "We believe Magno represents a district-scale critical minerals opportunity combining tungsten-bearing skarn systems, high-grade silver-zinc-lead CRD mineralization, and elevated indium values within one of Canada's premier mining jurisdictions. As we advance airborne geophysics, and 2026 drill targeting, we believe Magno continues to demonstrate the characteristics of a large-scale multi-phase mineralizing system with significant critical minerals potential."The technical case at Magno is built on four data points that matter for tungsten investors. First, multiple tungsten-bearing skarn targets have been identified across the property, with 2025 surface sampling returning values up to 6,550 ppm tungsten. Second, historical drilling and sampling at the Kuhn Zone reportedly returned intervals including 13.0 metres grading 0.55% WO3, 4.0 metres grading 1.32% WO3 and 0.26% MoS2, and 2.5 metres grading 0.95% WO3.Third, elevated indium values of up to 334 ppm have been identified within sphalerite-bearing mineralization — another China-dominated critical mineral with strategic significance for semiconductor and solar applications. Fourth, the project carries broader porphyry copper-molybdenum upside on top of its tungsten and silver-zinc-lead profile.The historical results referenced above were obtained from publicly available BC government assessment reports and have not been independently verified by GoldHaven or the Qualified Person, though management notes the data is being used to define and guide ongoing geological modelling and targeting work. The 2026 program is designed in part to confirm these historical results.With airborne geophysics already underway, GoldHaven is advancing permitting and exploration planning for a 2026 campaign expected to include drill testing across multiple high-priority tungsten-bearing skarn systems, silver-lead-zinc CRD zones, and porphyry copper-molybdenum targets identified across the project. The Magno Project remains at an exploration stage and additional work is required to determine the extent and economic significance of identified mineralization, but the package of attributes — district scale, multiple critical minerals, BC jurisdiction, drill-defined historical zones — fits cleanly into the criteria Western buyers are searching for.A full breakdown of the Magno target package, the 2026 drill plan, and the broader GoldHaven investor story is available here at Equity Insider.In the same release, GoldHaven also announced a one-month digital marketing services agreement with Machai Capital Inc. for an aggregate fee of $200,000 plus GST, payable from working capital and subject to CSE approval. The engagement is restricted to public awareness services and does not include investor relations or market-making.The technical and scientific information has been reviewed and approved by Raymond Wladichuk P.Geo., a non-independent Qualified Person under NI 43-101 and a consultant of the Company.In other industry developments:Almonty Industries Inc. (NASDAQ: ALM) reported first quarter 2026 revenue of US$25.4 million on May 11, 2026 — a 221% year-over-year increase driven by a sharp rise in the spot price of tungsten APT and continued strong operational performance at the Panasqueira Mine in Portugal[4]. The quarter also marked the formal commissioning ceremony at the Sangdong Tungsten Mine in Gangwon Province, South Korea, on March 17, 2026, marking the completion of development and the transition of one of the world's largest and highest-grade tungsten deposits toward commercial operations."Sangdong plays a critical role in efforts by the United States, the European Union and Korea to diversify away from the China-dominated market, which currently supplies more than 80% of the world's tungsten," said Lewis Black, CEO of Almonty. Phase 1 of Sangdong is designed to process approximately 640,000 tonnes of ore annually for roughly 2,300 tonnes of tungsten concentrate, with a planned Phase 2 expansion in 2027 doubling output to roughly 4,600 tonnes per year — enough to potentially supply approximately 40% of global tungsten demand outside China.Guardian Metal Resources PLC (NYSE American: GMTL) provided a Pre-Feasibility Study progress update for its 100%-owned Pilot Mountain tungsten project in Nevada on May 6, 2026. The PFS is being supported by a US$6.2 million U.S. Department of War Defense Production Act Title III investment in Guardian Metal's wholly-owned subsidiary, Golden Metal Resources (USA) LLC[5]. Required drilling for resource evaluation at the Desert Scheelite and Garnet Zones is complete, and a mine Plan of Operations is targeted for submission to the BLM in August 2026."We are very pleased to report strong progress at Pilot Mountain," said Oliver Friesen, CEO of Guardian Metal. The company completed its U.S. listing on the NYSE American on March 20, 2026, giving American investors direct access to one of the largest undeveloped tungsten deposits in the United States. Metallurgical work indicates a flotation circuit producing scheelite concentrate with potential silver and zinc by-products — a profile that, like Magno, brings polymetallic optionality alongside the primary tungsten thesis.For more on how GoldHaven stacks up against the peer set as the Western tungsten thesis builds, see the full investor briefing here at Equity Insider.American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) confirmed high-grade tungsten mineralization from initial Zero Level underground drilling at its IMA Mine in Lemhi County, Idaho on May 5, 2026. Highlight intercepts included 17.8 feet grading 0.435% WO3 and 1.16 oz/t Ag, 3.4 feet grading 1.02% WO3 and 0.84 oz/t Ag, and multiple tungsten-bearing polymetallic veins associated with the Main Ima vein system and a newly identified western vein."These initial underground drilling results from the Zero Level are highly encouraging and validate our approach to revitalizing the Ima Mine," said Ali Haji, CEO of American Tungsten. "Intersecting multiple high-grade tungsten-bearing veins, including both historical and newly identified structures, underscores the significant untapped potential of the property and reinforces our confidence as we advance our Phase 1 exploration program." The IMA Mine is a past-producing underground tungsten property that yielded approximately 199,449 metric ton units of WO3 between 1945 and 1957, with the historical tungsten-silver vein system also identified as containing a silver credit that management expects could help offset future operating costs — putting American Tungsten in the same brownfield, past-producing category as several of the Western tungsten reset candidates.Energy Fuels Inc. (NYSE American: UUUU) reported its first quarter 2026 results on May 6, 2026, marking the leadership transition from longtime CEO Mark Chalmers to newly appointed President and CEO Ross Bhappu. Energy Fuels is positioning itself as a vertically integrated U.S. producer of uranium, rare earth elements, and other critical minerals, with operations spanning the White Mesa Mill in Utah and a growing rare earth processing footprint."My immediate focus is disciplined execution — continuing to align our global teams, advancing development projects with a strong emphasis on schedule certainty and capital efficiency, and strengthening the operational foundation required to support sustained, long-term growth as a vertically integrated critical materials company," said Bhappu. Energy Fuels offers investors a producing-asset window into the broader U.S. critical minerals build-out — the same thematic GoldHaven is now positioning Magno against, just at a different point on the development curve.The thread running through all five names is the same: capital is repricing tungsten and adjacent critical minerals around a single assumption — that Chinese supply cannot be counted on, and that the Western mine pipeline has to be rebuilt from the ground up. Producers like Almonty are already monetizing the price move. PFS-stage operators like Guardian Metal are converting policy support into bankable engineering. Past-producing brownfields like American Tungsten and the broader U.S. tungsten reset are working back into resource definition. And exploration-stage, district-scale projects like GoldHaven's Magno — with tungsten, silver-zinc-lead CRD, indium, and porphyry copper-molybdenum targets across a single 37,000-hectare property — are exactly the kind of land package that fits the Western buyer profile if 2026 drilling validates the historical work.With airborne geophysics already in the air and drill targeting in design, the next twelve months at Magno will tell investors whether GoldHaven turns the policy-supported environment into actual delineation. The tungsten price chart has already made the case — the full GoldHaven story is available here at Equity Insider.CONTINUED… Read this and more news for GoldHaven Resources at: https://equity-insider.com/goh-landing/.CONTACT:
EQUITY INSIDER
Email: info @acblanke1Article Sources:
1. https://www.streetwisereports.com/article/2026/03/24/tungsten-outpaces-gold-and-copper-as-global-supply-tightens.html
2. https://www.mining.com/almonty-starts-operations-at-sangdong-tungsten-mine-in-south-korea/
3. https://www.ecfr.gov/current/title-48/chapter-2/subchapter-H/part-252/subpart-252.2/section-252.225-7052
4. https://finance.yahoo.com/markets/commodities/articles/almonty-industries-reports-first-quarter-220800670.html
5. https://www.accessnewswire.com/newsroom/en/metals-and-mining/guardian-metal-resources-plc-announces-pilot-mountain-pre-feasibility-progress-up-1164124DISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has not been paid a fee by GoldHaven Resources Corp. for this article, but it has been paid for other articles for GoldHaven Resources Corp. by Baystreet.ca Media Corp. ("BAY"), and the owner/operator of BAY also owns MIQ, who has been paid by GoldHaven Resources Corp. directly. MIQ has been not been paid for this article. MIQ does not own any shares of GoldHaven Resources Corp. but reserves the right to buy and sell, and will buy and sell shares of GoldHaven Resources Corp. at any time without notice. There may also be 3rd parties who may have shares of GoldHaven Resources Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision.The owner/operator of MIQ/Equity Insider own shares of GoldHaven Resources Corp. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares of GoldHaven Resources Corp. at any time without notice.The information in this publication contains forward-looking statements. Statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as "projects", "foresee", "expects", "will", "anticipates", "estimates", "believes", "understands", or that by statements indicating certain actions "may", "could", or "might" occur. Understand there is no guarantee past performance will be indicative of future results.In preparing this publication, we have relied upon information supplied by various public sources. We believe that such information is reliable; however we cannot guarantee its accuracy and we relied upon and assume no liability for such information. Issued on behalf of GoldHaven Resources Corp. by Equity Insider/MIQ.
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Almonty Industries Reports First Quarter 2026 Financial ResultsMay 11, 2026 6:08 PM
Business Wire Revenue Increases 221% Year-Over-Year to $25.4 Million, Driven by Record Tungsten Pricing Adjusted EBITDA(1) of $6.1 Million Compared to ($2.4) Million in Q1 2025 Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM; TSX: AII; ASX: AII; Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced its financial results for the three months ended March 31, 2026. Financial Summary: Key First Quarter 2026 & Subsequent Operational Highlights On March 17, 2026, Almonty hosted a formal commissioning ceremony at its Sangdong tungsten mine (the “Sangdong Mine”) in Gangwon Province, South Korea, marking the completion of development and the transition of the project toward commercial operations. Sangdong is one of the largest and highest-grade tungsten deposits in the world and is expected to become a key source of secure supply for Western industrial and defense supply chains. Revenue for the first quarter of 2026 increased 221% to $25.4 million, driven by a significant increase in the spot price of tungsten APT with the Panasqueira Mine continuing to deliver strong operational performance. The Company generated positive operating cash flow of $9.7 million for the quarter, compared to negative cash flow from operations of ($4.4) million in Q1 2025, marking a significant inflection point in the Company’s financial trajectory. Cash totaled $259.9 million as of March 31, 2026, with a working capital position of $169.5 million, providing the Company with substantial financial flexibility to advance its growth initiatives. Subsequent to the quarter, Almonty announced the relocation of its corporate headquarters from Toronto, Ontario, Canada to Dillon, Montana, United States, reinforcing the Company’s strategic alignment with U.S. defense and industrial stakeholders and positioning it closer to the Company’s Gentung Tungsten Project and key government, defense and industrial partners. First Quarter 2026 Financial Results Highlights Revenue recorded in the first quarter of 2026 increased 221% to $25.4 million, as compared to $7.9 million in the same year-ago quarter. The increase was driven by a significant increase in the spot price of tungsten APT with continued strong operations at the Company’s Panasqueira Mine. General and administrative expenses in the first quarter of 2026 totaled $7.1 million, as compared to $3.4 million in the same year-ago quarter. The increase was primarily attributable to higher salaries and wages as the Company expanded its management team to support its growth trajectory, as well as increased consulting, legal, office and travel costs associated with operating as a multi-listed public company across four international exchanges. The Company expects a normalization of general and administrative expenses throughout the remainder of 2026. Net loss in the first quarter of 2026 was $5.3 million, or ($0.02) per share, as compared to a loss of $34.6 million, or ($0.13) per share, in the same year-ago quarter. The significant improvement was primarily due to the absence of the $25.8 million non-cash loss on revaluation of warrant liabilities recorded in Q1 2025, combined with significantly higher revenue and income from mining operations. The current quarter net loss included $6.4 million in non-cash losses on the revaluation of embedded derivative liabilities and $2.0 million in non-cash losses on the revaluation of warrant liabilities, both driven by the appreciation in Almonty’s share price from $12.07 to $20.24 per common share during the first quarter of 2026. These non-cash accounting charges did not impact the Company’s operating performance, cash flow, or liquidity position. Adjusted EBITDA, a non-IFRS measure, was $6.1 million in the first quarter of 2026, as compared to ($2.4) million in the same year-ago quarter, reflecting the substantial improvement in underlying operational performance.(1) Cash as of March 31, 2026 totaled $259.9 million, as compared to $268.4 million as of December 31, 2025. Note on Non-Cash Items The first quarter of 2026 included $8.4 million in aggregate non-cash revaluation charges, comprising $6.4 million related to the fair value revaluation of embedded derivative liabilities and $2.0 million related to the fair value revaluation of warrant liabilities. These charges arise from the application of IFRS fair value accounting requirements to the Company’s outstanding convertible debt instruments and warrants, and reflect the appreciation in the Company’s share price from $12.07 at December 31, 2025 to $20.24 at March 31, 2026, as well as changes in volatility assumptions and other market-based inputs during the period. While these accounting impacts affected reported net income, they did not affect the Company’s cash position, liquidity, or the operational progress made across the business during the quarter. Management Commentary Lewis Black, Chairman, President & CEO, commented: “The first quarter of 2026 represents a pivotal moment for Almonty. The results speak for themselves – revenue increased 221% to $25.4 million, we generated positive Adjusted EBITDA of $6.1 million and positive operating cash flow of $9.7 million, marking a decisive inflection point in the Company’s financial trajectory. “With the formal commissioning ceremony at Sangdong held in March 2026, the relocation of our corporate headquarters to Dillon, Montana, and tungsten prices continuing to reflect the critical nature of this metal to Western defense and industrial supply chains, we believe Almonty has never been better positioned. As we ramp Sangdong toward full commercial throughput and advance the Gentung Tungsten Project toward production, we are building the foundation for what we expect will be a long-duration, high-margin operating platform, and one that directly addresses the West’s most urgent critical mineral vulnerabilities.” Guillaume de Lamaziere, Interim Chief Financial Officer, added: “Our first quarter results demonstrate the significant operating leverage inherent in our business model as tungsten prices strengthen. Revenue was driven by the Panasqueira Mine, which delivered $25.4 million in quarterly revenue – more than triple the same period last year – reflecting the favorable APT pricing environment. “From a cash flow perspective, the Company generated $9.7 million in positive operating cash flow, and Adjusted EBITDA turned positive at $6.1 million. Net loss for the quarter was $5.3 million, which included $8.4 million in non-cash revaluation charges on derivative and warrant liabilities driven by the appreciation in our share price during the quarter. Excluding these non-cash items, our underlying operating performance was strong and consistent with the transformation underway across the business. With $259.9 million in cash and a working capital position of $169.5 million, we remain well-capitalized to advance our broader development pipeline.” About Almonty Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and 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 https://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. (1) Use of Non-IFRS Financial Measures This news release makes reference to the non-IFRS financial measure “Adjusted EBITDA”. Non-IFRS financial measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of Almonty’s results of operations from management’s perspective. Almonty’s definitions of non-IFRS measures, including the definition of the non-IFRS financial measure “Adjusted EBITDA” used in this news release, may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of Almonty’s financial information reported under IFRS. Almonty uses non-IFRS financial measures, including “Adjusted EBITDA”, to provide investors with supplemental measures of its operating performance and to eliminate items that have less bearing on operating performance or operating conditions, and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. In particular, Almonty’s management uses Adjusted EBITDA in order to evaluate its operating performance, by eliminating the impact of non-operational or non-cash items. Almonty believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. Almonty’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period. IFRS NET INCOME (LOSS) TO ADJUSTED EBITDA RECONCILIATION (in thousands of Canadian dollars)     Three Months Ended March 31, 2026 Three Months Ended March 31, 2025 Net loss for the period (5,264) (34,622) Depreciation & amortization 253 288 Loss on valuation of embedded derivative liabilities 6,392 2,909 Loss on valuation of warrant liabilities 2,020 25,810 Foreign exchange (gain) loss (1,800) 1,100 Taxes 2,747 92 Interest, net (1,852) 1,206 Share-based compensation 3,633 851 Adjusted EBITDA (Non-IFRS) 6,129 (2,366) The $8.4 million in non-cash revaluation charges comprises $6.4 million related to the fair value revaluation of embedded derivative liabilities and $2.0 million related to the fair value revaluation of warrant liabilities. These charges arise from the application of IFRS fair value accounting requirements to the Company’s outstanding convertible debt instruments and warrants, and reflect changes in the Company’s share price, volatility assumptions, and other market-based inputs during the period. 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 successful commissioning of the Sangdong Mine processing plant, the expected timing and capacity of commercial production at the Sangdong Mine, the development of the Company’s tungsten projects, the expected impact of tungsten market trends and prices on the Company’s operations, and the normalization of general and administrative expenses. 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 successful completion of commissioning at the Sangdong Mine, the availability of funding for continued development, and the expected trajectory of tungsten prices. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form dated March 18, 2026 for the year ended December 31, 2025 and in the Company’s management’s discussion and analysis dated May 11, 2026 for the three months ended March 31, 2026 and 2025. 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, the foregoing list of material factors is not exhaustive, and there may be other factors that could 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. 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260511950425/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us Original: Almonty Industries Reports First Quarter 2026 Financial Results

An Exclusive Invitation and a Global Platform: Almonty's CEO Welcomes Eligible Shareholders on a Journey to South Korea – and Prepares to Speak at BofA Securities and CMI ConferencesMay 11, 2026 12:43 PM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), the leading global producer of tungsten critical to U.S. defense and advanced technology industries, today announced that Lewis Black, Chairman, President and Chief Executive Officer, will take center stage at the prestigious BofA Securities Global Metals, Mining & Steel Conference on Wednesday, May 13, delivering Almonty's vision on tungsten's indispensable role in U.S. defense readiness and next-generation technology supply chains. Conferences & Upcoming Events Almonty will be represented at two leading industry events this May, as the global conversation around critical mineral supply chains continues to intensify. On Wednesday, May 13, Lewis Black, Chairman, President and Chief Executive Officer, will present at the BofA Securities Global Metals, Mining & Steel Conference. Mr. Black will also join the Tungsten Panel Discussion at 3:15 PM ET, where he will share his insights on tungsten's strategic importance in an increasingly competitive global landscape. A webcast link will be shared on Almonty's website and social media channels ahead of the event. On Thursday, May 14, Mr. Black will participate as a roundtable speaker at the Critical Minerals Forum, engaging with senior industry leaders and policymakers on the security of critical mineral supply chains. Mr. Black is scheduled to deliver a keynote presentation on Thursday, May 14, 2026, from 1:15–1:35 PM, titled "No Team, no Tungsten, no Time: Mining's Human Capital Crisis". He will also join Panel 8: "The Endgame — Who Will Control the Critical Minerals Economy?", running from 4:00–4:50 PM on the same day, where senior industry leaders and policymakers will examine the geopolitical restructuring of global mineral supply chains. BofA Securities Global Metals, Mining & Steel Conference
Date: May 13, 2026
Location: Miami, FL
Format: Presentation + 1x1 Meetings
Presentation Link: Webcast – Almonty Industries Please visit Almonty’s investor relations website here Critical Minerals Institute Summit 5
Date: May 14, 2026
Location: Toronto, ON
For details, please visit CMI’s website here Registration is mandatory for conference participation. For more information or to schedule a meeting with management, please contact your respective conference representative. Lewis Black, Chairman, President and Chief Executive Officer Invites Eligible Canadian Shareholders to a Once-In-A-Lifetime Journey to the Heart of the Tungsten World Nestled in the mountains of Gangwon Province, South Korea, the Sangdong Mine is not just a mining operation, it is a landmark in the history of critical minerals. Once the largest tungsten mine in the world, Sangdong lay dormant for decades before Almonty brought it back to life, transforming it into the centerpiece of a new era of Western supply chain independence. Today, it stands as one of the most strategically significant mining assets on the planet. Two winning shareholders will be flown to South Korea for an exclusive, fully hosted multi-night experience. From the moment they arrive, they will be immersed in the story of Almonty — touring the Sangdong Mine itself, seeing the scale and scope of an operation that is actively reshaping the global tungsten landscape, and gaining perspective on the mineral that underpins everything from armor-piercing munitions to semiconductors and surgical instruments. Following the Sangdong Mine tour, contest winners will explore the broader Yeongwoel County: the storied region that surrounds the mine and offers a window into the landscape, culture, and community intertwined with Almonty's mission. The prize trip is anticipated to take place on or around late June to early July. Management Commentary Lewis Black, Chairman, President and Chief Executive Officer of Almonty, said: "The Sangdong Mine represents everything we have worked toward — years of conviction, sacrifice, and an unwavering belief that tungsten would one day be recognized as the critical backbone of Western defense and technology. To be able to invite our shareholders to witness this firsthand, to stand inside the mine that so many said could never be brought back to life, is a moment I do not take lightly. This trip is not simply a prize — it is a thank you. A deeply personal one. To every shareholder who has placed their trust in Almonty, I am profoundly grateful. But there is a special place in my heart for those who were with us from the very beginning — the ones who believed before the world was paying attention, who held on through the hard years, and who never stopped trusting in what we were building. You are as much a part of this story as the mine itself. We built this together, and it is only right that you see it." ALMONTY INDUSTRIES INC. CANADIAN SHAREHOLDER TRIP CONTEST The contest is open only to eligible Canadian residents (excluding Quebec) who are 18 years of age or older and who are current Almonty shareholders who have held shares continuously for the past three (3) years, excluding employees, officers, directors, agents and their immediate family/household members. Contest begins at 12:00 p.m. ET on May 11, 2026 and ends at 11:59 p.m. ET on May 31st, 2026. One (1) entry per person. Odds of winning depend on the number of eligible entries received during the contest period. Potential winners will be selected by random draw during the week of June 1st, 2026 and must correctly answer a skill-testing question and sign and return required declaration/release documents to be confirmed as winners. All decisions are final. For full rules and entry details see the Official Contest Terms and Conditions available at www.almonty.com. Entrants’ personal information may be used in accordance with applicable Canadian privacy laws. The contest will be administered in accordance with applicable law. About Almonty Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 and the United States, 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 https://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 contest for eligible Canadian shareholders offered by Lewis Black, Chairman, President and Chief Executive Officer. 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, statements concerning the expected timing and anticipated prizes for the contest offered to eligible Canadian shareholders by Lewis Black, Chairman, President and Chief Executive Officer. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, including, without limitation, the risks identified in the Company's annual information form for the year ended December 31, 2025 dated March 18, 2026. 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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260511000584/en/ Company Contact
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations Contact
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us Original: An Exclusive Invitation and a Global Platform: Almonty's CEO Welcomes Eligible Shareholders on a Journey to South Korea – and Prepares to Speak at BofA Securities and CMI Conferences

Western Nations Accelerate $12B Critical Mineral Initiatives as Global Export Restrictions Reach Record HighsMay 7, 2026 11:15 AM
PR Newswire (Canada) Issued on behalf of GoldHaven Resources Corp.USANewsGroup.com News Commentary VANCOUVER, BC, May 7, 2026 /CNW/ -- The money tells the story. Western governments just committed $12.1 billion in new mining project capital through 30 partnerships at the 2026 PDAC conference, while the U.S. launched its FORGE coalition, pulling in 54 nations and locking down 11 bilateral supply agreements in a single day[1]. That spending is reactive. A new OECD inventory confirms global export restrictions on critical raw materials have hit an all-time high, with supply concentration for cobalt, lithium, and rare earths now exceeding 90% among the top three producing nations[2]. The structural shift is pulling capital down the entire Western mineral pipeline, from early stage exploration to commercial production, and five companies are positioned directly in its path: GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Almonty Industries (NASDAQ: ALM) (TSX: AII), Brixton Metals (TSXV: BBB) (OTCQX: BBBXF), NioCorp Developments (NASDAQ: NB), and Energy Fuels (NYSE-A: UUUU) (TSX: EFR). Analysts now project the global critical minerals market will nearly double to $715 billion by 2035, with North American investment growing at the fastest rate as defense budgets, AI infrastructure, and electrification demand converge on the same finite set of inputs. An April 2026 OECD working paper on critical minerals and clean energy applications reinforces the thesis: projects offering exposure to multiple designated critical minerals across defense, energy, and technology supply chains are now attracting the strongest institutional capital[3].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) just announced the upsizing of its previously announced non-brokered financing to gross proceeds of up to $1.2 million—due to strong investor demand. The additional capital is set to further strengthen GoldHaven's fully funded 2026 exploration program at its flagship Magno Project in the Cassiar District of British Columbia, and it's expected to support an expanded drill campaign targeting a large-scale, multi-phase mineral system with significant and critical metals exposure, including tungsten and indium."The level of investor interest reflects growing recognition of the opportunity at Magno," said Rob Birmingham, CEO of GoldHaven. "With drilling set to expand beyond our initial program, we are entering a catalyst-rich phase where we can begin to test the scale of this system across multiple high-priority targets. We believe Magno has the characteristics of a large, multi-phase mineral system, and this program is a key step in advancing that potential."Magno is a district-scale polymetallic property spanning more than 37,200 hectares, carrying silver, tungsten, lead, zinc, and indium mineralization. Tungsten is classified as a critical mineral by both the Canadian and U.S. governments, and Canada currently has no primary domestic tungsten production. GoldHaven Resources has already submitted its drill permit application at Magno and filed a technical report covering the polymetallic system, positioning the project for its first drill program as the funding comes together."We are entering an exciting and highly strategic phase at Magno, where multiple high-grade zones and distinct mineralization styles have now been defined across a large, consolidated land package," said Birmingham. "The combination of high-grade silver-lead-zinc mineralization and growing exposure to critical minerals such as tungsten and indium continues to reinforce our view that Magno hosts the hallmarks, continues to reinforce our view that Magno is emerging as a compelling district-scale silver and critical minerals exploration opportunity in the Cassiar District."The company is also active in Brazil, where an independent geological review of its 100%-owned Copeçal Gold Project confirmed a large-scale, structurally controlled hydrothermal gold system. The review identified higher-grade gold enrichment at the West Target tied to fold hinge structures, and copper-gold vectors at the East Target supported by zoned sulphide assemblages indicating increasing temperature at depth. A Phase II drill program at Copeçal is planned for 2026, designed to test the high-priority structural and geophysical targets identified through that review.CONTINUED… Read this and more news for GoldHaven Resources at: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/In other industry developments:Almonty Industries (NASDAQ: ALM) (TSX: AII) announced the relocation of its corporate headquarters from Toronto, Ontario to Dillon, Montana, positioning the company closer to U.S. government agencies, defense contractors, and industrial partners following its Nasdaq listing and US$90 million IPO in July 2025 and a US$129 million follow-on financing in December 2025. The move accompanies the acquisition of Montana's Gentung Tungsten Project, expected to restart production in 2026, and deepens Almonty Industries' strategic alignment with U.S. critical mineral supply chain security."Relocating our headquarters to the United States is not merely symbolic," said Lewis Black, Chairman, President and CEO of Almonty Industries. "It reflects who we are – as Montana is the location of our recently acquired Gentung Tungsten Project – and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence."Almonty Industries operates the Sangdong Mine in South Korea, historically one of the world's largest and highest-grade tungsten deposits, as well as projects in Portugal and Spain. With Sangdong Phase 1 complete and Gentung on track for restart, the company is targeting a dominant position in the global non-Chinese tungsten supply chain.Brixton Metals (TSXV: BBB) (OTCQX: BBBXF) reported the third batch of drill results from its Langis 2026 drill program at the Langis silver project in Ontario, Canada, including hole LM-26-290 with a 0.50-metre sample grading 82,334 g/t silver containing abundant native silver, representing the highest-grade single sample ever reported by the company and among the highest silver grades ever reported globally. The hole returned 11.35 metres averaging 4,560 g/t silver, with multiple additional bonanza-grade intercepts reported across the program."We are excited to report the third batch of drill results from the Langis 2026 drill program," said Gary R. Thompson, Chairman and CEO of Brixton Metals. "These results are extraordinary and are among the most significant silver drilled intercepts known to the company globally. Hole LM-26-290 has delivered an exceptional result, highlighted by 82,334 g/t silver from a 0.50m core length sample containing abundant native silver."Brixton Metals is advancing the Langis silver project in Ontario alongside its Thorn copper-gold-silver project in British Columbia, with ongoing drilling at Langis aimed at delineating the extent of bonanza-grade mineralization and establishing a mineral resource estimate.NioCorp Developments (NASDAQ: NB) announced Nebraska enacted legislation giving the company greater flexibility to qualify for approximately $200 million in state tax incentives over the first ten years of operations at the Elk Creek Project in southeast Nebraska, in return for investing hundreds of millions of dollars in the state and creating approximately 450 full-time equivalent jobs. Signed by Governor Jim Pillen on April 16, 2026, the legislation extends the period during which companies must meet Tier 6 Nebraska Advantage Act employment and investment requirements."I want to thank Governor Pillen, Revenue Committee Chairman Brad von Gillern, Senator Hallstrom, and members of the Nebraska Unicameral for supporting this effort," said Mark A. Smith, Chairman and CEO of NioCorp Developments. "Nebraska has stood behind the Elk Creek Project from the very beginning, and this is another clear demonstration of that commitment."The Elk Creek Project is expected to create approximately 450 permanent direct jobs in southeast Nebraska, support an estimated 2,100 additional jobs throughout the broader state economy, and generate approximately $6.59 billion in operating expenses over the project's life. NioCorp Developments is a leading U.S. critical minerals developer focused on advancing the project toward production.Energy Fuels (NYSE-A: UUUU) (TSX: EFR) produced its first kilogram of terbium oxide at its White Mesa Mill in Utah at 99.9% purity using monazite ore sourced domestically, representing the first U.S. mine-to-oxide capability for heavy rare earth oxides in decades and the first production volumes and purities sufficient for downstream metal and alloy validation. The achievement follows production of nearly 30 kilograms of dysprosium oxide at the same purity level, with both terbium and dysprosium now subject to Chinese export controls and critical to high-performance permanent magnets used in electric vehicles, drones, robotics, and defense applications."This success proves we can process and produce high purity 'heavy' rare earth oxides economically and at scale in the U.S.," said Mark Chalmers, CEO of Energy Fuels. "North America will soon have a reliable and secure U.S. commercial source of these vital critical materials ensuring availability for high-performance magnet and defense technologies."Energy Fuels has received requests from multiple magnet manufacturers and OEMs worldwide to begin product validation of its Dy and Tb oxide production. The company operates the White Mesa Mill as a leading U.S. producer of uranium, rare earths, and critical materials, advancing its strategy of becoming a globally significant critical material producer.FURTHER READING: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/CONTACT:
USA News Group
info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES:https://thehub.ca/2026/04/17/canadas-critical-minerals-diplomacy-is-moving-fast-more-industrial-capacity-is-needed/ https://www.oecd.org/en/about/news/press-releases/2026/04/critical-raw-materials-face-rising-export-restrictions-increasing-risks-to-global-supply-chains.html https://www.oecd.org/en/publications/critical-minerals-and-clean-energy-applications_e3b08f4d-en.htmlLogo: https://mma.prnewswire.com/media/2838876/5951154/USA_News_Group_Logo.jpg View original content:https://www.prnewswire.com/news-releases/western-nations-accelerate-12b-critical-mineral-initiatives-as-global-export-restrictions-reach-record-highs-302765646.html Original: Western Nations Accelerate $12B Critical Mineral Initiatives as Global Export Restrictions Reach Record Highs

Almonty Industries Inc. Appoints Jorge Beristain as Chief Financial Officer to Lead Next Phase of GrowthMay 6, 2026 5:22 PM
Business Wire Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten critical to U.S. defense and advanced technology industries, today announced the appointment of Jorge Beristain, CFA, as Chief Financial Officer, effective June 1, 2026. Mr. Beristain’s appointment positions Almonty for its next phase of growth as the Company scales its flagship Sangdong Mine in South Korea and continues to expand its strategic role in the Western tungsten supply chain in the United States, Portugal and Spain. Brian Fox has departed from his role as Chief Financial Officer, effective immediately, and the Company thanks him for his service. Until Mr. Beristain’s start date, Guillaume de Lamaziere, the Company’s Chief Development Officer, will serve as Interim Chief Financial Officer. Mr. Beristain is a strategic, dynamic finance executive with a proven track record of building, funding, growing, and creating value at publicly traded basic materials and mining companies. He most recently served as Vice President, Finance of Ryerson Holding Corp (“Ryerson”) (NYSE: RYI), a US$5 billion revenue NYSE-listed metals service center, where he was a key advisor to the CEO, CFO and the Board, and helped double the company’s market capitalization. He previously served as Chief Financial Officer of Central Steel & Wire Co., a US$800 million Ryerson subsidiary and currently serves as an Independent Director of Elevra Lithium Limited (NASDAQ/ASX: ELVR). Earlier in his career, Mr. Beristain was a top-three-ranked Wall Street equity research analyst, serving as Managing Director and Head of Americas Metals & Mining Equity Research at Deutsche Bank Securities. He holds a Bachelor of Commerce from the University of Alberta and has held the CFA designation for more than 25 years. His combination of operating experience, public-company executive leadership, board service, and Wall Street capital markets fluency makes him uniquely suited to lead Almonty’s finance organization as the Company executes on its global growth strategy and enters into its next phase. Mr. de Lamaziere will serve as Interim Chief Financial Officer until Mr. Beristain’s start date. He currently serves as the Company’s Chief Development Officer and brings over three decades of senior financial leadership experience across international and U.S. regulated financial markets, including former roles as Chief Executive Officer and Chief Operating & Financial Officer of AIG Asset Management (Europe) Ltd., Chief Operating & Financial Officer of Banque AIG in Paris, and senior finance positions at Goldman Sachs in New York and Paris. He is a CFA Charterholder, Certified Public Accountant, Professional Risk Manager, Chartered Wealth Manager, and Chartered Global Management Accountant. Management Commentary Lewis Black, Chairman, President and Chief Executive Officer of Almonty, said: “Jorge is exactly the right leader for the next phase of Almonty’s growth as our Sangdong Mine comes on line with revenue generation this year. His track record, public-company experience and decades of Wall Street capital markets fluency in basic materials and mining are extraordinary, and rarely found in a single executive. As we ramp our flagship Sangdong Mine in South Korea and execute on our broader strategic priorities, Jorge’s finance acumen, investor-relations expertise, and value-creation track record will be instrumental in delivering for our shareholders, customers, and the Western allies who depend on a secure tungsten supply chain. We thank Brian for his service to the Company and wish him well. We are also grateful to Guillaume for stepping in as Interim Chief Financial Officer to ensure continuity until Jorge joins Almonty.” About Almonty Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and 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 https://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. 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 appointment of Mr. de Lamaziere as Interim Chief Financial Officer, the appointment of Mr. Beristain as Chief Financial Officer effective June 1, 2026 and the expected contribution of these appointments to the next phase of the Company’s growth. 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. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the appointment of Mr. de Lamaziere as Interim Chief Financial Officer, the appointment of Mr. Beristain as Chief Financial Officer effective June 1, 2026 and the expected contribution of these appointments to the next phase of the Company’s growth as well as the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026. 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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506216393/en/ Company
Lewis Black
Chairman, President & CEO
(647) 438-9766
info@almonty.com Investor Relations
Lucas A. Zimmerman
Managing Director MZ Group - MZ North America
(949) 259-4987
ALM@mzgroup.us
www.mzgroup.us Original: Almonty Industries Inc. Appoints Jorge Beristain as Chief Financial Officer to Lead Next Phase of Growth

A Supply Crisis Is Brewing in the Metals That Power EverythingApril 29, 2026 10:15 AM
PR Newswire (US)

Issued on behalf of GoldHaven Resources Corp.USANewsGroup.com News Commentary VANCOUVER, BC, April 29, 2026 /PRNewswire/ -- Washington just confirmed what the market already suspected. A formal national security investigation found that America's dependence on imported critical minerals has become a direct threat to its defense and industrial base, and that no single Western country can fix the problem alone[1]. That finding landed while tungsten, one of the most strategically sensitive metals on Earth, was already in freefall on the supply side. Chinese export controls have drained Western inventories to critically low levels and sent processing prices from around $300 to over $1,775 per metric tonne unit in barely a year[2]. Five companies are now positioned across the metals at the center of this structural realignment: GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Almonty Industries (NASDAQ: ALM) (TSX: AII), Idaho Strategic Resources (NYSE-A: IDR), Brixton Metals (TSXV: BBB) (OTCQX: BBBXF), and Kingfisher Metals (TSXV: KFR) (OTCQB: KGFMF).
The silver market tells the same story from a different angle. The Silver Institute's 2026 World Silver Survey confirms a sixth consecutive annual supply deficit, with cumulative shortfalls since 2021 now exceeding 800 million ounces as demand from electrification, AI infrastructure, and defense keeps pulling ahead of production[3]. Building a new mine takes an average of 17 years from discovery to first output, which means the only projects capable of delivering supply within the current deficit window are advanced explorers with near-term drill catalysts already in the pipeline[4].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has hired Dias Airborne Limited to fly a 1,741 line-kilometre high-resolution magnetic survey over its flagship Magno Project in northern British Columbia, with the program expected to launch in June 2026. The company also recently closed an oversubscribed flow-through financing totaling approximately $2.04 million to fully fund the upcoming drill campaign.It will be the first modern property-wide geophysical survey across the full Magno land package, which now spans more than 37,200 hectares after GoldHaven recently filed a technical report on three newly acquired mineral claims added to the Magno Project. The airborne program will scan the Magno Zone, Kuhn Zone, and D Zone at tight 100-metre line spacing, targeting corridors where surface sampling has returned silver grades up to 2,370 grams per tonne, tungsten up to 6,550 parts per million, and indium concentrations as high as 334 parts per million.GoldHaven selected Dias based on geological similarities between Magno and Hercules Metals' Leviathan discovery in Idaho, where the same QMAGT sensor platform helped identify concealed drill targets that led to discovery. The technology uses superconducting quantum interference device sensors to capture the full tensor of the Earth's magnetic field, delivering sharper resolution than conventional surveys. GoldHaven is also evaluating a follow-on ground-based 3D IP survey to refine subsurface targeting ahead of drill mobilization."This survey represents a major step forward in systematically unlocking the district-scale potential of Magno," said Rob Birmingham, CEO of GoldHaven. "By integrating modern high-resolution geophysics with our growing geological database and 2025 surface discoveries, we believe we are significantly improving our ability to define high-confidence drill targets across multiple mineralized systems at Magno."GoldHaven has already submitted its drill permit application for a 2026 program targeting three high-grade zones carrying silver, tungsten, lead, zinc, and indium mineralization. Tungsten is classified as a critical mineral by both the Canadian and U.S. governments, and Canada currently has no primary domestic tungsten production.Beyond British Columbia, GoldHaven is advancing its Copeçal Gold Project in Mato Grosso, Brazil, where the company recently completed its first diamond drilling program confirming gold and copper anomalism. Phase 2 drilling is planned for mid-Q2 2026. Between Magno and a 123,900-hectare Brazilian portfolio spanning three projects, GoldHaven offers diversified discovery exposure at a stage where most juniors remain locked into a single asset.CONTINUED… Read this and more news for GoldHaven Resources at:https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/In other industry developments:Almonty Industries (NASDAQ: ALM) (TSX: AII) announced the relocation of its corporate headquarters from Toronto, Ontario to Dillon, Montana, positioning the company closer to U.S. government agencies, defense contractors, and industrial partners following its Nasdaq listing and US$90 million IPO in July 2025 and a US$129 million follow-on financing in December 2025. The move accompanies the acquisition of Montana's Gentung Tungsten Project, expected to restart production in 2026, and deepens Almonty Industries' strategic alignment with U.S. critical mineral supply chain security."Relocating our headquarters to the United States is not merely symbolic," said Lewis Black, Chairman, President and CEO of Almonty Industries. "It reflects who we are – as Montana is the location of our recently acquired Gentung Tungsten Project – and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence."Almonty Industries operates the Sangdong Mine in South Korea, historically one of the world's largest and highest-grade tungsten deposits, as well as projects in Portugal and Spain. With Sangdong Phase 1 complete and Gentung on track for restart, the company is targeting a dominant position in the global non-Chinese tungsten supply chain.Idaho Strategic Resources (NYSE-A: IDR) has secured a long-term lease for the Niagara copper-silver project in Shoshone County, Idaho, adding a historic resource estimate of approximately 150 million pounds of copper and 8 million ounces of silver to its district-scale Murray Gold Belt landholdings. The Niagara deposit is a Revett-type sediment-hosted deposit located approximately 7 kilometers from Idaho Strategic Resources' producing Golden Chest Mine, with the company holding all adjacent unpatented mineral claims."The Niagara deposit is a natural fit for our Company in many ways," said John Swallow, President and CEO of Idaho Strategic Resources. "In addition to broadening IDR's commodity asset base as our country enters a strong secular commodity market, it also serves as a prime example of the potential of the overall MGB District."The lease begins at $18,000 annually, escalating at 3% per year over an initial 10-year term with extension options, and includes a 2% net smelter royalty with a $1,000,000 buyback option on 1%. Idaho Strategic Resources has planned a 2026 drill campaign to upgrade historic resource confidence and test mineral continuity along strike, down dip, and within the untested lower-middle Revett Formation.Brixton Metals (TSXV: BBB) (OTCQX: BBBXF) reported the third batch of drill results from its Langis 2026 drill program at the Langis silver project in Ontario, Canada, including hole LM-26-290 with a 0.50-metre sample grading 82,334 g/t silver containing abundant native silver, representing the highest-grade single sample ever reported by the company and among the highest silver grades ever reported globally. The hole returned 11.35 metres averaging 4,560 g/t silver, with multiple additional bonanza-grade intercepts reported across the program."We are excited to report the third batch of drill results from the Langis 2026 drill program," said Gary R. Thompson, Chairman and CEO of Brixton Metals. "These results are extraordinary and are among the most significant silver drilled intercepts known to the company globally. Hole LM-26-290 has delivered an exceptional result, highlighted by 82,334 g/t silver from a 0.50m core length sample containing abundant native silver."Brixton Metals is advancing the Langis silver project in Ontario alongside its Thorn copper-gold-silver project in British Columbia, with ongoing drilling at Langis aimed at delineating the extent of bonanza-grade mineralization and establishing a mineral resource estimate.Kingfisher Metals (TSXV: KFR) (OTCQB: KGFMF) outlined a new porphyry drill target at the Turquoise area of its 933 km² HWY 37 Project in British Columbia's Golden Triangle, characterized by a 0.5 by 2.0 km chargeability anomaly supported by magnetic vector amplitude, DC resistivity, and Mobile MagnetoTellurics inversion datasets. The near-surface target is drill-ready and located approximately 6 km from existing highway infrastructure, with porphyry-proximal indications including advanced argillic mineralogy and elevated pyrite abundance at the geophysical core domain."The Turquoise target is a direct result of our systematic exploration approach, which continues to unlock new opportunities across this underexplored yet highly prospective region of the Golden Triangle," said Dustin Perry, CEO of Kingfisher Metals. "The target is located within the emerging Hank–Mary district and only ~6 km from existing infrastructure."The Turquoise target sits approximately 3.4 km east of the Hank porphyry discovery hole drilled in 2025 and expands the prospective footprint across the HWY 37 Project. Kingfisher Metals plans to drill the Turquoise target in summer 2026 as part of a disciplined program building a pipeline of high-quality targets across its large land package in the Golden Triangle.FURTHER READING: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/CONTACT:
USA News Group
info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES:https://www.piie.com/blogs/realtime-economics/2026/us-posing-hidden-risk-wests-critical-minerals-strategy https://www.fastmarkets.com/insights/tungsten-2026-geopolitics-sets-global-tone/ https://silverinstitute.org/wp-content/uploads/2026/04/World-Silver-Survey-2026.pdf https://www.cnbc.com/2026/03/10/copper-shortage-tariff-fears-mine-disruptions-prices-tightness.html Logo: https://mma.prnewswire.com/media/2838876/5919929/USA_News_Group_Logo.jpg 



View original content:https://www.prnewswire.com/news-releases/a-supply-crisis-is-brewing-in-the-metals-that-power-everything-302757134.html

Original: A Supply Crisis Is Brewing in the Metals That Power Everything

Almonty Industries Establishes U.S. Corporate Headquarters, Reinforcing Role as America’s Tungsten SupplierApril 13, 2026 7:30 AM
Business Wire
Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten critical to U.S. defense and advanced technology industries, today announced the relocation of its corporate headquarters from Toronto, Ontario, Canada to Dillon, Montana, United States.


The relocation of its corporate headquarters reflects Almonty’s continued strategic alignment with the United States and its role in supporting secure, transparent, and Western-aligned supply chains for critical materials. The move positions the Company closer to key stakeholders, including U.S. government agencies, defense contractors and industrial partners, while reinforcing its commitment to becoming the leading U.S.-aligned tungsten producer.


The move follows Almonty’s Nasdaq listing and US$90 million oversubscribed IPO in July 2025, a US$129 million follow-on financing in December 2025, and the acquisition of Montana’s Gentung Tungsten Project, expected to restart production this year.


Almonty has also deepened its U.S. defense alignment through a strategic partnership with American Defense International, Inc., participation in the Department of Defense-sponsored Critical Minerals Forum, and congressional recognition for strengthening critical mineral independence.


Further underscoring its alignment with U.S. strategic priorities, Almonty has appointed former senior United States Army generals as directors, bringing defense and national security expertise to support the Company’s role in securing critical mineral supply chains. The Company continues to advance its strategy of strengthening non-Chinese tungsten supply chains amid increasing geopolitical focus on critical minerals security.


Management Commentary


Lewis Black, Chairman, President and Chief Executive Officer of Almonty, said: “Relocating our headquarters to the United States is not merely symbolic. It reflects who we are – as Montana is the location of our recently acquired Gentung Tungsten Project – and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence. With Sangdong Phase 1 complete and Gentung on track to begin production, we are delivering on that mission, and a U.S. home base ensures we remain at the center of it.”


About Almonty


Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to be a major contributor to the global non-China tungsten supply chain 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 the U.S. and 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 https://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.


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 expected timing and capacity of commercial production at the Gentung Tungsten Project in Montana, the development of the Company’s other tungsten and molybdenum projects, and the expected impact of tungsten market trends and prices on the Company’s operations. 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 expected timing and capacity of commercial production at the Gentung Tungsten Project in Montana, the development of the Company’s other tungsten and molybdenum projects, and the expected impact of tungsten market trends and prices on the Company’s operations. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026. 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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260413261619/en/
Company Contact

Lewis Black

Chairman, President & CEO

(647) 438-9766

info@almonty.com
Investor Relations Contact

Lucas A. Zimmerman

Managing Director MZ Group - MZ North America

(949) 259-4987

ALM@mzgroup.us

www.mzgroup.us


Original: Almonty Industries Establishes U.S. Corporate Headquarters, Reinforcing Role as America’s Tungsten Supplier

Tungsten crisis is real!

Down 10pct today from 22.50 to 20.28 Cdn









Damn I remember tracking it closely when it was $1.30
Might've even bought and sold some

Almonty Industries Reports Fourth Quarter and Full Year 2025 Financial ResultsMarch 18, 2026 11:25 PM
Business Wire
First Ore Delivered to Sangdong Mine ROM Pad, Marking Transition to Active Mining Operations Ahead of Commercial Production


Tungsten Pricing Seeing Strong Growth, with TTM Average APT Price Increasing 534% Year-Over-Year to US$2,250 per MTU


Almonty Industries Inc. (“Almonty” or the “Company”) (Nasdaq: ALM; TSX: AII; ASX: AII; Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced its financial results for the three and twelve months ended December 31, 2025.




Financial Summary:








Unless otherwise indicated, all figures are expressed in millions of Canadian dollars.







 

 



 






Three Months Ended






Year Ended December 31,









December 31,









 






2025






2024






2025






2024








Revenue






$8.7






$6.3






$32.5






$28.8








Income (Loss) from Mining Operations






$1.3






($0.5)






$2.4






$2.0








General and Administrative Costs






$9.4






$1.8






$20.5






$6.2








Income (Loss) Before Other Expenses & Income Taxes






($16.3)






($3.4)






($36.2)






($13.3)








Non-Cash Gain (Loss) on Valuation of Embedded Derivative Liabilities, Due to Share Price Appreciation






($87.3)






($0.3)






($97.4)






($0.6)








Net Income (Loss) for the Period






($102.3)






($5.4)






($161.9)






($16.3)








Adj. EBITDA (non-IFRS) (1)






($6.2)






($2.0)






($17.1)






($3.1)







Key Fourth Quarter 2025 & Subsequent Operational Highlights



On March 17th, 2026, Almonty hosted a formal commissioning ceremony at its Sangdong Tungsten Mine in Gangwon Province, South Korea, marking the nearly three year completion of development and the transition of the project toward commercial operations. Sangdong is one of the largest and highest-grade tungsten deposits in the world and is expected to become a key source of secure supply for Western industrial and defense supply chains.



In December 2025, Almonty achieved a pivotal milestone with the delivery of the first truckload of ore to the Run-of-Mine (ROM) pad at the Sangdong Mine in South Korea, marking the transition from mine development to active mining operations and the final step before commencement of commercial production.



In December 2025, the Company closed a successful public offering of 20.7 million common shares for gross proceeds of US$129.4 million, bringing total cash and cash equivalents to $268.4 million at December 31, 2025.



Almonty completed the acquisition of the Gentung Tungsten Project in Beaverhead County, Montana, adding a near-term U.S. production asset to the Company’s portfolio.



Appointed Brigadier General (Retired) Steven L. Allen as Chief Operating Officer to optimize tungsten deliveries across Almonty’s operations and accelerate development of the Sangdong Molybdenum Project and Gentung Tungsten Project.



Subsequent to the quarter, Almonty appointed Guillaume Wiesenbach de Lamaziere, CFA as Chief Development Officer to spearhead corporate development strategy and execution.



Fourth Quarter and Full Year 2025 Financial Results Highlights


Revenue recorded in the fourth quarter of 2025 increased by 39% to $8.7 million, as compared to $6.3 million in the same year-ago quarter. For the full year ended December 31, 2025, revenue increased by 13% to $32.5 million, as compared to $28.8 million in the prior year. The increase was driven by a significant increase in the spot price of tungsten APT, with the trailing twelve-month average APT price increasing 534% to US$2,250 per MTU as of March 13, 2026.


General and administrative expenses in the fourth quarter of 2025 totaled $9.4 million, as compared to $1.8 million in the same year-ago quarter. For the full year ended December 31, 2025, general & administrative expenses totaled $20.5 million, as compared to $6.2 million in the prior year. The increase was primarily attributable to additional legal fees and costs incurred in connection with ongoing corporate and regulatory activities, including costs associated with the December 2025 public offering, the Company’s special meeting held on September 29, 2025 and the Company’s proposed U.S. domestication process.


Net loss in the fourth quarter of 2025 was $102.3 million, as compared to a loss of $5.4 million in the same year-ago quarter. For the full year ended December 31, 2025, net loss was $161.9 million, as compared to a loss of $16.3 million in the prior year. The change was primarily attributable to a non-cash loss of $87.3 million on the revaluation of embedded derivative liabilities associated with convertible debentures taken in the fourth quarter of 2025, which was driven by the significant appreciation in Almonty’s share price during the year from C$1.36 at December 31, 2024 to C$12.07 at December 31, 2025. This non-cash accounting charge does not impact the Company’s operating performance, cash flow, or liquidity position.


Adjusted EBITDA, a non-IFRS measure, was ($6.2) million in the fourth quarter of 2025, as compared to ($2.0) million in the same year-ago quarter. For the full year ended December 31, 2025, Adjusted EBITDA was ($17.1) million, as compared to ($3.1) million in the prior year.(1)


Cash as of December 31, 2025 totaled $268.4 million, as compared to $7.8 million as of December 31, 2024. The increase was primarily a result of the receipt of gross proceeds from two public offerings completed during 2025: the July 2025 Nasdaq IPO (US$90 million) and the December 2025 offering (US$129.4 million).


Note on Non-Cash Items


As Almonty has evolved from a junior mining company into a more established tungsten producer with listings across four international exchanges, including the Nasdaq listing in July 2025, its financial reporting has necessarily become more complex and reflects the standards expected of a larger and more broadly held public company. The non-cash fair value revaluation of derivative and warrant liabilities in particular are a function of that transition and of the Company’s changing capital structure during the year.


While these accounting impacts materially affected reported net income, they did not affect its cash position, liquidity, or the operational progress the Company made across the business.


Management Commentary


Lewis Black, Chairman, President & CEO, commented: “The fourth quarter marked a defining milestone for Almonty with the delivery of the first ore to the ROM pad at Sangdong, transitioning us from development into active mining operations at what we expect will become one of the Western world’s largest tungsten mines. Coupled with a transformative year of capital markets activity that has strengthened our balance sheet with over $268 million in cash, continued production from Panasqueira, and Sangdong advancing toward commissioning, the Company believes it is well positioned for its next phase of growth.


“Looking ahead, we are focused on completing commissioning at Sangdong and optimizing throughput to meet surging demand from Western governments and defense customers seeking secure, long-term tungsten supply. With APT prices reaching record levels above US$2,200 per MTU and the structural supply deficit expected to deepen, Almonty is poised to play a central role in reshaping allied tungsten trade flows for decades to come.”


Brian Fox, Chief Financial Officer, added: “Our fourth quarter results reflect the impact of significant non-cash accounting charges driven by the appreciation in our share price during 2025, which required revaluation of certain financial instruments under IFRS. Excluding these non-cash derivative revaluation charges, our operating results were consistent with expectations as the Panasqueira Mine continued to deliver steady revenue growth supported by the strengthening APT price environment. Additionally, $3.1 million of revenue was deferred to the first quarter of 2026 due to the timing of concentrate shipments, which we believe better reflects the underlying operating performance of the quarter. These types of adjustments have been and continue to be seen across a broad section of companies and sectors as growth and valuation typically increase with the transition from Junior to Mid Cap.”


About Almonty


Almonty (Nasdaq: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 Mine in South Korea, historically one of the world’s largest and highest-grade tungsten deposits, is expected to supply a significant portion 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 and the United States, 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 https://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.


(1) Use of Non-IFRS Financial Measures


This news release makes reference to the non-IFRS financial measure “Adjusted EBITDA”. Non-IFRS financial measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of Almonty’s results of operations from management’s perspective. Almonty’s definitions of non-IFRS measures, including the definition of the non-IFRS financial measure “Adjusted EBITDA” used in this news release, may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of Almonty’s financial information reported under IFRS. Almonty uses non-IFRS financial measures, including “Adjusted EBITDA”, to provide investors with supplemental measures of its operating performance and to eliminate items that have less bearing on operating performance or operating conditions, and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. In this news release, Almonty uses the non-IFRS financial measure “Adjusted EBITDA”. Almonty’s management uses Adjusted EBITDA in order to evaluate its operating performance, by eliminating the impact of non-operational or non-cash items.


Almonty believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. Almonty’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period.




IFRS NET INCOME (LOSS) TO ADJUSTED EBITDA RECONCILIATION








(in thousands of Canadian Dollars)







 



 






Three Months Ended






Year Ended December 31,









December 31,






 








 






2025






2024






2025






2024








Net income (loss) for the period






(102,273)






(5,404)






(161,913)






(16,298)








Depreciation & amortization






251






270






1,043






1,120








Loss on valuation of embedded derivative liabilities






87,269






294






97,408






630








(Gain) loss on valuation of warrant liabilities






(44)






1,728






29,337






2,032








Foreign exchange (gain) loss






4,896






(220)






2,973






1,779








Taxes






273






(13)






470






372








Interest, net






644






969






2,494






4,566








Share-based compensation






2,734






335






11,085






2,734








Adjusted EBITDA (Non-IFRS)






(6,249)






(2,041)






(17,103)






(3,065)







The $126.7 million in non-cash revaluation charges comprises $97.4 million related to the fair value revaluation of embedded derivative liabilities and $29.3 million related to the fair value revaluation of warrant liabilities. These charges arise from the application of IFRS fair value accounting requirements to the Company’s outstanding convertible debt instruments and warrants, and reflect changes in the Company’s share price, volatility assumptions, and other market-based inputs during the period.


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 successful commissioning of the Sangdong Mine processing plant, the expected timing and capacity of commercial production, the development of the Company’s tungsten and molybdenum projects, the Company’s proposed U.S. domestication process, and the expected impact of tungsten market trends and prices on the Company’s operations.


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 successful completion of commissioning at the Sangdong Mine, the availability of funding for continued development, and the expected trajectory of tungsten prices.


Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the Company’s annual information form for the year ended December 31, 2025 dated March 18, 2026.


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 could 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 NEWS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS NEWS 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260318274370/en/
Company Contact

Lewis Black

Chairman, President & CEO

(647) 438-9766

info@almonty.com
Investor Relations Contact

Lucas A. Zimmerman

Managing Director

MZ Group - MZ North America

(949) 259-4987

ALM@mzgroup.us

www.mzgroup.us


Original: Almonty Industries Reports Fourth Quarter and Full Year 2025 Financial Results

Almonty Completes Phase 1 of Sangdong Tungsten Mine in South KoreaMarch 16, 2026 7:30 AM
Business Wire
Sangdong Returns to Production After More Than 30 Years, Designed to Supply Approximately 40% of Western Tungsten Demand at Full Capacity


Almonty Industries Inc. (“Almonty” or the “Company”) (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced the completion of Phase 1 commissioning at its Sangdong Tungsten Mine in Gangwon Province, South Korea –marking the return to production after more than 30 years.


Phase 1 of the Sangdong Mine is now commissioned and producing, with the processing plant designed to handle approximately 640,000 tonnes of ore annually, yielding roughly 2,300 tonnes of tungsten concentrate per year. A planned Phase 2 expansion, expected to come online in 2027, is designed to increase processing capacity to approximately 1.2 million tonnes of ore annually, doubling tungsten output to roughly 4,600 tonnes per year. At full capacity, Sangdong is expected to supply ~40% of global tungsten demand outside China.


On March 17, 2026, at 10:00 a.m. local South Korean time, Lewis Black, President and CEO of Almonty, will host a formal commissioning ceremony at the Company’s Sangdong Tungsten Mine marking the completion of development and the transition of the project toward commercial operation. The Company is expecting the ceremony to be attended by over 200 political figures from all branches of the South Korean Government as well as various representatives from the U.S. embassy in Seoul.


The Sangdong Mine was historically one of the world’s largest tungsten producers before operations were suspended in the early 1990s following a prolonged downturn in commodity prices. Since acquiring the project in 2015, Almonty has invested more than $100 million to redevelop the site as a modern underground mining operation with a newly constructed processing plant. The redevelopment includes approximately four kilometers of underground tunnel development, a mineral processing plant equipped with SAG and ball mills supplied by Metso, and advanced operational monitoring systems.


Sangdong has an expected mine life exceeding 45 years and an average ore grade of approximately 0.51% tungsten trioxide (WO3), roughly three times the global average. The project was developed in accordance with the Equator Principles and is located in the Republic of South Korea, a mature democracy and close strategic ally of the United States.


Management Commentary


Lewis Black, Chairman, President & CEO of Almonty, commented: “The completion of Phase 1 at the Sangdong Tungsten Mine marks the culmination of more than a decade of investment and development. This is a significant milestone in the effort by the United States and its allies to diversify supply chains for critical minerals away from China, which currently produces approximately 88% of the world’s tungsten supply. With commissioning now complete, our focus turns to optimizing throughput and advancing toward full commercial production.


“Looking ahead, the Phase 2 expansion and the development of our tungsten oxide facility and the adjacent Sangdong Molybdenum deposit will form the foundation of what we refer to as the ‘Korean Trinity’ – a fully integrated strategic-mineral value chain that positions South Korea as a global hub for the production, refining, and upgrading of tungsten. This will directly support U.S. defense procurement requirements mandating non-China tungsten sourcing after 2027 and significantly enhance resource security for the U.S. and its allies.”


About Almonty


Almonty (NASDAQ: ALM) (TSX: AII) (ASX: AII) (Frankfurt: 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 and the United States, 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 https://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.


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 successful commissioning of the Sangdong Tungsten Mine processing plant, the expected timing and capacity of commercial production, the development of the Sangdong Tungsten Mine’s Phase 2 expansion, the development of Almonty’s tungsten oxide facility and the adjacent Sangdong Molybdenum deposit, and the expected impact of tungsten market trends on the Company’s operations.


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 successful commissioning of the Sangdong Tungsten Mine processing plant, the expected timing and capacity of commercial production, the development of the Sangdong Tungsten Mine’s Phase 2 expansion, the development of Almonty’s tungsten oxide facility and the adjacent Sangdong Molybdenum deposit, and the expected impact of tungsten market trends on the Company’s operations.


Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, including, without limitation, the risks identified in the identified in the Company’s management’s discussion and analysis for the three and nine months ended September 30, 2025.


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 could 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260316607350/en/
Company Contact

Lewis Black

Chairman, President & CEO

(647) 438-9766

info@almonty.com


Investor Relations Contact

Lucas A. Zimmerman

Managing Director

MZ Group - MZ North America

(949) 259-4987

ALM@mzgroup.us

www.mzgroup.us


Original: Almonty Completes Phase 1 of Sangdong Tungsten Mine in South Korea

Down 7pct to 28.25 = Volatile (naturally)..........on 300,000 8am PST

Nice / thanks
Older cousin
TUNGF
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=177386477
.

Lol, love those annotated charts! ww .. "Next Earnings 2026-03-20"
After next earnings we should be well outta pre-production and see some real income... getting close,


https://www.visualcapitalist.com/how-much-control-china-has-over-the-worlds-critical-minerals/
edit
Almonty's little brother is loaded for bear as well;
https://stockcharts.com/sc3/ui/?s=UURAF&id=p00338994596

Lol, there's an understatement 12, if I ever heard one $30+ Cdn and $22.50 U$D nice double since we last spoke 🤑

Couloir Capital is Pleased to Announce That it Has Updated its Research Coverage on Almonty IndustriesFebruary 24, 2026 8:45 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - February 24, 2026) - Couloir Capital is pleased to announce that it has updated its research coverage on Almonty Industries Inc. (TSX: AII) (NASDAQ: ALM) (ASX: AII) (FSE: ALI1) (or "Company"). Couloir Capital's Research Team crafted a report titled "Higher Tungsten Prices Trigger Revaluation; Sangdong Ramp on Track; Maintain Hold." Report excerpt: "Tungsten market fundamentals have strengthened materially, supported by higher benchmark APT prices that have recently moved above US$1,000/MTU amid robust defence-driven demand and a tightening supply environment. China's export controls implemented in 2025 have reinforced structural supply constraints and accelerated Western efforts to diversify sourcing. Against this backdrop, we adopt a higher long-term price framework, increasing our APT assumption to US$800/MTU from US$450/MTU previously.Operationally, Almonty has transitioned into its next growth phase with the Sangdong Tungsten Mine entering active operations in December 2025 and commencing a staged ramp-up toward nameplate capacity by 2027. Beyond Sangdong, the company is advancing multiple levers for medium-term growth, including capacity expansion at Panasqueira, reserve definition at the Sangdong Molybdenum project, and development progress at Gentung Browns Lake toward potential production readiness in 2H26. Reflecting improved pricing assumptions and clearer production visibility, we update our fair value estimate to C$19.30 per share (from C$7.69 previously) and maintain a HOLD rating."The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal. About Couloir Capital Ltd.Couloir Capital Ltd. is an investment research firm with a team of experienced investment professionals providing institutional-quality research coverage for small-cap equities. Our research reports are distributed via Bloomberg, FactSet, Capital IQ, LSEG, Research Tree and other platforms, as well as via social media and extensive email distribution lists. To subscribe, visit: https://www.couloircapital.com/research-portalFor further information, please contact: Rob Stitt, Managing Director, Couloir Capital Ltd.
Email: rstitt@couloircapital.com
www.couloircapital.comDISCLAIMER:Analyst Disclosure: Investors are encouraged to read the complete list of disclosures contained in the report. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285015
Original: Couloir Capital is Pleased to Announce That it Has Updated its Research Coverage on Almonty Industries

Good convo https://stockhouse.com/companies/bullboard?symbol=t.aii&postid=36882564

Bottom line - not too late, still undervalued.
https://www.nasdaq.com/market-activity/stocks/alm/advanced-charting?timeframe=1m

Why Tungsten Has Jumped to No. 1 on the World’s Critical Minerals Hot List



Weekly Chart
https://schrts.co/ZmuXBpAB

Yeah, posted from ceo or stockhouse or somewhere .. lol, lotta fibbin' over there..

What the.....
ha-ha.......ha-ha-ha
Good post !
But now, what might that mean for all the . . . . .
Almontys ? of the world ?

Regardless I'd now like to subscribe to that channel



Do you have OTHER good things to Subscribe to ?

.😉

.

Couple good reads. Hey!, congrats team on your 1500% since this time last year...
https://investornews.com/critical-minerals-rare-earths/why-tungsten-has-jumped-to-no-1-on-the-worlds-critical-minerals-hot-list/
https://www.ad-hoc-news.de/boerse/news/ueberblick/almonty-industries-a-strategic-tungsten-play-reaches-unprecedented/68518082#google_vignette

Don't know if any of u fkrs are paying attention but 300% not a hallucination:

Comment by Sargonskion Jan 04, 2026 3:40pm
55 Views
Post# 36845080
RE: Coffee With Samso Ep 214 - Two Days Ago FYI....
Excellent confirmation of the disconnect between the current price of APT - posted for the first time since the year end at $1111 APT-mtu .. and the valuation of a company producing 300,000 mtu short term and 600,000 mtu a year from now .. 2027 ..

As Lewis stated directly .. talking about 800 mtu .. "We can't put that into the model and publish the numbers " way too fantastical -- no one would believe or take seriously "

THe problem is assuming that we will get 1100 dollar APT long term .. the question is what to we predict this time next year.. ? Lewis saying 450-550 is a uber conservaative under estimate .. what he is saying is at that level we are fantastically profitable ..

Let us investigate how profitale .. using 550 APT and a more realistic 800 APT (realisic on the basis of precitions by the experts that the supply imbalance and deficit will definitely take more than a year to correct .. We shall see .

Using 250 .. all in costs (230 was the figure used by the analysts) at 550 / mtu-apt we have 300 / mtu profit x 300,000 - 90 million near term .. x 600,000 = 180 million come 2027.

The extra 140,000 from the US Montana asset which could be ready as early as mid 2027 adding another 42 million .. for a total of 222 million by the end of 2027

Not including anything in for the Moly -- nor the Oxide plant which is fully financed

222 million .. on the basis of 550 APT USD .. at a 20 PE .. supports a market cap of 4.44 Billion x 1.37 = 6 Billion CAD .. roughly Double our current MP of 3 Billion CAD .. at SP 12 Dollars ... so at 24 Dollars CAD we are fairly valued

At 800 APT/mtu profit is 550 instead of 300 USD- we are talking 44 CAD per Share. .. which is ridiculous as lewis says .. never-mind feeding 1100 USD - mtu ATP into the model we are talking 68 dollars CAD per share .. .. which is loopy doopy but the numbers are what they are.

China just executed the most sophisticated economic warfare operation in history.



And almost nobody noticed.



Here's what happened:



On February 4, 2025, Beijing implemented tungsten export licensing. Not a ban. Just paperwork.



The result? U.S. importers received ZERO export licenses. All year. Not one kilogram approved.



This is sanctions by bureaucracy. Quiet. Deniable. Devastating.



Why it matters:



China controls 82.7% of global tungsten production.



The U.S. produces exactly ZERO.



Tungsten makes:

? Armor-piercing ammunition

? Semiconductor interconnects

? Every cutting tool in manufacturing



No tungsten = no bullets, no chips, no machining.



The Pentagon disclosed the Army's armor-piercing inventory can only meet combat requirements for 90 DAYS.



Semiconductor fabs face wafer start reductions within 6-8 WEEKS of shortage.



Price has exploded 200% this year alone.



The 2027 NDAA deadline bans Chinese tungsten from defense contracts.



Western mines won't reach production until 2028-2030.



Do the math. The gap cannot close in time.



This is the playbook China tested on gallium, germanium, and antimony. Now perfected.



The weapon isn't supply control.



The weapon is the filing cabinet where export applications go to die.



My prediction: By mid 2026, at least one major NATO defense contract will miss delivery due to tungsten shortage. Screenshot this.



The nation that controls tungsten controls permission to manufacture.



That permission now requires a stamp from Beijing.



And the stamp never comes.


25 Dec 2025, 2:50
0
@DireDareKareWOLFRAM DOMINION
WOLFRAM DOMINION

China just executed the most sophisticated economic warfare operation in history.

And almost nobody noticed.

Here's what happened:

On February 4, 2025, Beijing implemented tungsten export licensing. Not a ban. Just paperwork.

The result? U.S. importers… pic.twitter.com/Pz091pdMOZ— Shanaka Anslem Perera ⚡ (@shanaka86) December 27, 2025

Still early 

Post by coolslidderon Dec 18, 2025 10:25am
88 Views
Post# 36829933
Institutional Ownership Snapshot
Almonty is seeing a surge in institutional interest as it ramps up production at Sangdong and benefits from record tungsten prices. Here’s a breakdown of who’s holding shares now:

Passive Index Funds / ETFs Holding Almonty
Fund Name (Type) Almonty Shares Held % of Fund’s Assets Latest Disclosed
VanEck Rare Earth/Strategic Metals ETF (REMX) (ETF) ~2,500,000 1.28% 17 Dec 2025
iShares S&P/TSX Global Base Metals Index ETF (XBM) (ETF) ~170,000 (est.) 0.64% 15 Dec 2025
iShares S&P/TSX SmallCap Index ETF (XCS) (ETF) ~85,000 (est.) 0.52% 15 Dec 2025
VanEck Global Mining UCITS ETF (GIGB) (ETF – Europe) ~85,000 (est.) 0.06% 15 Dec 2025
SPDR S&P International Small Cap ETF (GWX) (ETF) ~40,000 (est.) 0.04% 15 Dec 2025
Desjardins Canadian Equity Index ETF (DMEC) (ETF) ~40,000 (est.) 0.03% 15 Dec 2025
Mackenzie Canadian Equity Index ETF (QCN) (ETF) ~110,000 (est.) 0.02% 15 Dec 2025
TD S&P/TSX Capped Composite Index Fund (TTP) (ETF) ~110,000 (est.) 0.02% 15 Dec 2025

Active Institutional Investors Holding Almonty
Institutional Holder (Type) Almonty Shares Held % of Company (approx.) Latest Disclosure
Driehaus Capital Management (USA – Asset Mgmt) 3,386,117 ~1.7% 30 Sep 2025
Hood River Capital Management (USA – Asset Mgmt) 2,421,657 ~1.1% 30 Sep 2025
Telemark Asset Management LLC (USA – Hedge Fund) 1,300,000 ~0.58% 10 Nov 2025
Alyeska Investment Group L.P. (USA – Hedge Fund) 1,300,000 ~0.58% 17 Nov 2025
ArrowMark Colorado Holdings LLC (USA – Asset Mgmt) 1,294,701 ~0.58% 17 Nov 2025
Millennium Management LLC (USA – Hedge Fund) 985,902 ~0.44% 17 Nov 2025
Old West Investment Management LLC (USA – Asset Mgmt) 356,146 ~0.16% 5 Nov 2025

No major institutional selling has been reported in the past quarter. All recent changes have been net additions — especially from VanEck REMX, which added ~2.5M shares in its December rebalance. Almonty’s inclusion in the S&P/TSX Global Mining Index earlier this year also triggered ETF inflows.
https://stockhouse.com/companies/bullboard?symbol=t.aii&postid=36829933

https://www.nationaldefensemagazine.org/articles/2025/12/18/mining-companies-squaring-up

Not bad 12, couple bucks in as many daze. Revz not to far along - more bucks freak-out!
$ALM $AII

No looking back now me thinks. Roll out imminent..
$ALM $AII

https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fsangdong-mine-processing-plant-building-a-logo-finally-v0-uwlbqf2kpa3g1.jpeg%3Fwidth%3D640%26crop%3Dsmart%26auto%3Dwebp%26s%3Dd930ff0e06cfc6a083a6ea726b36be72cad64b9a

Trump has always been so good for this stock $ALM $AII

China Introduces New Exports Controls On Antimony, Tungsten And Silver
Tyler Durden's Photo
by Tyler Durden
Wednesday, Nov 05, 2025 - 09:20 PM

According to Trump, his big achievement a week ago when he announced the trade truce with China, was getting Beijing to agree to remove export limitations on rare earth minerals, which as most now know are so critical for US companies to make everything from cell phones, to cars, and military equipment. And yet, as discussed on a few occasions this week, it feels like the cracks in this latest trade deal are already starting to show, whether it is Beijing ordering Trump what he can't talk about, or quietly ring-fencing its domestic data center by banning US AI chips.

And now, it appears that while China granted Trump a 1 year reprieve on rare earths, it is quietly tightening the export noose on other, just as important minerals.

According to the Global Times, China has introduced new export controls on silver, antimony, and tungsten.

In the statement published on the MOFCOM's website last Thursday, the export controls are for the 2026-27 period, and have the stated aim of "stepping up the protection of resources and the environment."

The Global Times continues:

The document was proposed by the Department of Foreign Trade of MOFCOM, based on the regulations outlined by the Foreign Trade Law of and the Regulations on the Administration of Import and Export of Goods. It aims to protect resources and the environment and enhance the export management of rare metals, said the MOFCOM.

Which is amusing: the only reason why China is currently the world leader in global rare earth refining - which is an extremely polluting and toxic process - is precisely because China has absolutely no regard for the environment; that's because it has a huge land mass which is expendable, and it can use and abuse as it sees fit, and has millions of workers which are just as expendable.

Take the world's largest rare earth processing mine, Bayan Obo, which is located in the barren Inner Mongolia region, and which has generated over 70,000 tons of radioactive thorium as toxic byproducts from years of REE processing.
https://www.zerohedge.com/technology/china-introduces-new-exports-controls-antimony-tungsten-and-silver

American Integrity Insurance Group, Inc. (NYSE: AII) .. not.

Nice try 12 on the hyperbole.. now, settle in for the long haul:

Post by thasis on Aug 25, 2025 6:17pm
Where do we go from here....???
Lewis has mentioned on several occasions he wants full value on this asset.

He needs to jump through 4 hurdles to achieve that.

(1 Commercial production of Tungsten portal 1. Emminent
(2 Commercial production of Tungsten portal 2 12- 18 months
(3 Commercial production of Moly portal 1 18- 24 months
(4 Commercial production of Tungsten Oxide 24- 36 months

Once these are achieved, M&A will then be under serious review.
It is my belief any possible take over prior to this would need to be hostile, with the most likely candidate if that were to happen being one of the Euro banks. One that already has an existing position.
I see a minimum time horizon for all of the above 2-3 years. Until then trade it or watch your nestegg grow.
Value then will be closer to what MP Materials trades at. But, Almonty will have 4 active revenue generators at that time so figure that out at 21 x earnings and we are easily $25 plus .
Cheers !!
https://stockhouse.com/companies/bullboard?symbol=t.aii&threadid=36691708

40 days, 40 nights,.. where would I be without my Almonty..

.. more good pumping:

Almonty has positioned itself at the center of the U.S. government's push to secure critical mineral supply chains.

There are some serious political connections here:

General Gustave Perna, former COO of Operation Warp Speed, is now on Almonty’s board. A recent Reuters article even quotes U.S. officials saying they want to move “as quickly as Operation Warp Speed” to secure critical minerals. That’s not a coincidence.

Alan Estevez, former Under Secretary of Commerce for Industry and Security (the same department that oversees the CHIPS Act), is also on the board. That gives Almonty direct insight into how U.S. industrial policy and funding decisions are made.

Almonty is currently redomiciling to the U.S., which is a key step in unlocking access to federal funding, defense procurement, and CHIPS-style incentives. Their new American CFO starts Monday, marking the first official step in that transition.

There’s been very little external news lately, and that might not be accidental. Some are speculating that a major announcement could come as early as Monday, following the end of the 40-day quiet period. The finalization of the redomiciling may be that announcement. While the act of redomiciling itself isn’t necessarily newsworthy, what it unlocks is: the ability for Almonty to enter into strategic partnerships with the U.S. government.

I believe the reason they’ve been so quiet is that their highly connected leadership—and strategic partners like American Defense International (who also represent MP Materials)—have been working behind the scenes to get everything lined up for when Almonty is officially an American company.

Based on the timeline of regulatory filings and leadership changes (i.e. their new CFO), it’s reasonable to expect the redomiciling to be finalized in late August or early September 2025. This timing would align with:

The need for a U.S.-based financial officer to satisfy regulatory and governance requirements.
The strategic withholding of major U.S. government partnership announcements until the company is fully domiciled in the U.S.

Once that happens, Almonty could be in a prime position to benefit from the U.S. critical minerals strategy—which I believe we will start seeing announcements in September or October as they are finalized after the redomiciling.

I am very bullish on this stock and believe the recent volatility is a combination of low float, speculative positioning ahead of expected news, and uncertainty during the quiet period. Once clarity returns and the redomiciling is official, I expect sentiment and volume to shift quickly.
https://stockhouse.com/companies/bullboard?symbol=t.aii&postid=36688748

ALL: ticker ALMT on the OTC is now also listed on the NASDAQ:

https://otce.finra.org/otce/dailyList?viewType=Deletions