Diamond Equity Research Releases Update Note on Almonty Industries, Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF)
New York, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has released an Update Note on Almonty Industries, Inc. (TSX:AII) (NASDAQ:ALM) (ASX: AII) (Frankfurt: ALI1). The research summary below is from a report commissioned by Almonty Industries, Inc. and produced by Diamond Equity Research. The update note includes detailed information on the Almonty Industries' business model, services, industry overview, financials, valuation, management profile, and risks.
The full update note is available below.
Almonty Industries Update Note December 2025
Highlights from the report include:
- Almonty Prices Upsized US$112.5 Million U.S. Offering to Accelerate Growth and Advance Multi-Asset Development Pipeline: Almonty Industries announced the pricing of an upsized underwritten U.S. public offering of 18 million common shares at US$6.25 per share, for total gross proceeds of US$112.5 million. The Company also granted underwriters a 30-day over-allotment option to purchase up to an additional 2.7 million shares at the same price. Proceeds from the offering will be used to advance multiple key growth initiatives across Almonty's global portfolio, including exploration and development at the Gentung Browns Lake Tungsten Project in Montana, expansion work at the Panasqueira Mine in Portugal, and ongoing exploration at the Sangdong Molybdenum Project in South Korea. Remaining funds will support working capital and general corporate purposes. The offering, led by BofA Securities as Lead Bookrunning Manager, is expected to close on or about December 10, 2025, subject to customary closing conditions. The financing is being conducted under the Company's recently filed short form base shelf prospectus and Form F-10 registration statement under the Canada–U.S. Multi-Jurisdictional Disclosure System, providing streamlined access to North American capital markets. We note that the strong investor demand and upsizing of the offering emphasize confidence in Almonty's strategic positioning as the leading non-Chinese producer of tungsten concentrate. The capital infusion is expected to significantly strengthen the balance sheet, accelerate project execution, and enhance the Company's ability to meet rising global tungsten and molybdenum demand across defense, technology, and advanced manufacturing sectors.
- Almonty Establishes U.S. Operating Presence with Acquisition of Gentung Browns Lake Project, Advancing Its Strategy Toward Becoming a Leading U.S. Integrated Tungsten Producer: Almonty Industries has officially expanded its operating footprint into the United States with the acquisition of 100% ownership of the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana, one of the most advanced undeveloped tungsten assets in the country. The addition of this project marks a major step toward Almonty's goal of becoming the leading integrated U.S. tungsten producer, strengthening the nation's domestic supply capacity at a time when demand for secure, non-Chinese tungsten sources is rising across defense, aerospace, semiconductors, and advanced manufacturing. The Gentung Browns Lake Project hosts NI 43-101 mineral resources of 7.53 Mt at 0.315% WO₃, with scheelite mineralization contained in a contact metasomatic garnet skarn setting. Planned development is based on room-and-pillar underground mining, with metallurgical recoveries exceeding 90% tungsten, existing road access, water rights, nearby power infrastructure, and an existing mill site. Almonty now holds exclusive rights to explore and develop the broader Gentung–Browns Lake corridor and is targeting potential production readiness by H2 2026, with expected output of roughly 140,000 MTUs per year under initial design parameters. We note that the acquisition reinforces U.S. efforts to rebuild secure supply chains for critical minerals and aligns directly with federal initiatives aimed at reducing dependence on China for defense-critical materials. With the Sangdong Mine's commissioning underway, steady production from Panasqueira, and expansion across Spain and Korea, Almonty's new U.S. platform provides a strategic foundation for a Western tungsten powerhouse potentially capable of supporting industrial and national security priorities.
About Almonty Industries, Inc.
Almonty Industries Inc. is a global leader in tungsten mining, with strategically positioned assets in geopolitically stable regions including South Korea, Portugal, and Spain. The company is positioning to potentially become the largest tungsten producer outside China upon the commissioning of its flagship Sangdong Mine.
About Diamond Equity Research
Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.
For more information, visit https://www.diamondequityresearch.com.
Disclosures:
Diamond Equity Research LLC is being compensated by Almonty Industries, Inc. for producing research materials regarding Almonty Industries, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 12/11/25 the issuer had paid us $50,000 for our company sponsored research services, which commenced 03/07/2025 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 12/11/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities including the complete loss of their investment. Investors can find various risk factors in the initiation report and in the respective financial filings for Almonty Industries, Inc. Please review the updated report attached for full disclosure page.
Contact:
Diamond Equity Research
research@diamondequityresearch.com
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