Almonty Industries Expands Tungsten Production in South Korea Amid Insider Trades
Almonty Industries is expanding tungsten production at its Sangdong mine in South Korea, set to begin operations by late 2025. While the company's stock has surged eightfold in the past year, insider trading activity shows divergence, with CEO Lewis Black purchasing shares and Independent Director David Hanick selling his entire stake. Almonty has also forged partnerships with U.S. defense firms to reduce reliance on foreign sources, resulting in a current market capitalization of approximately CAD 3.4 billion.
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Almonty Industries' stock has increased eightfold in twelve months, while insider signals diverge. CEO Lewis Black purchased approximately CAD 185,000 in shares in January, totaling 23.62 million shares held.
Independent Director David Hanick sold his entire position for CAD 1.7 million, marking the largest insider sale in the past year. The Sangdong tungsten mine in South Korea is set to start production at the end of 2025, aiming for stable operations by mid-2026.
Almonty has strengthened ties with the US defense sector through contracts with Tungsten Parts Wyoming and a partnership with American Defense International to reduce reliance on China, Russia, and North Korea. The current market capitalization is around CAD 3.4 billion, with a price target of CAD 12 from DA Davidson, indicating a projected 760.90% return over twelve months.
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