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Almonty Industries Inc (ASX:AII)

ALERT: Price-sensitive ASX Announcement for AII
Current share price for AII : $25.890 6.28 (32.02%)+
Announcement
Release
12 Aug 2026 9:11AM
Price at Release
$19.610
Full Release
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Summary
Almonty Industries Inc. reported its second quarter 2026 financial results, highlighting a significant increase in revenue by 498% year-over-year to $43.0 million, driven by record tungsten pricing. The company transitioned from a net loss in the same quarter of the previous year to a net income of $181.8 million, largely due to non-cash gains on the revaluation of derivative and warrant instruments. The company successfully closed an oversubscribed US$800 million convertible senior notes offering, increasing its cash position to C$1.2 billion. Key operational highlights include progress in the commissioning and ramp-up of the Sangdong tungsten mine in South Korea, with plans for Phase II expansion. Additionally, Almonty amended its long-term offtake agreement with Global Tungsten & Powders LLC to extend the agreement by six years, increase volumes by 40%, and enhance pricing by approximately 6.3%. The company also joined the large-cap Russell 1000 Index and the broad-market Russell 3000 Index.
Key Points
  • Revenue increased by 498% to $43.0 million.
  • Net income of $181.8 million compared to a loss of $58.2 million in Q2 2025.
  • Closed oversubscribed US$800 million convertible senior notes offering.
  • Cash position as of June 30, 2026, was C$1.2 billion.
  • Sangdong tungsten mine Phase I in commissioning and ramp-up.
  • Amended long-term offtake agreement with Global Tungsten & Powders LLC.
  • Joined Russell 1000 and Russell 3000 indices.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.