Almonty to acquire Montana tungsten project for $9.75 million

TORONTO - Almonty Industries Inc. (NASDAQ:ALM) (TSX:AII), a mining company with a market capitalization of $473.64 million and strong financial health according to InvestingPro metrics, announced Tuesday it has entered into a binding agreement to acquire the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana for US$9.75 million.

The deal involves Almonty paying US$750,000 in cash and issuing US$9 million in common shares to acquire exclusive rights to explore, develop and mine the tungsten claims from U.S. Tungsten Inc., a privately-owned minerals explorer.

In a separate transaction, Almonty agreed to acquire a privately held Montana corporation with assets including a plant permit, water rights and tungsten mining equipment for US$250,000 in cash. Both transactions are expected to close around October 31, 2025.

According to the company’s press release statement, the Gentung Browns Lake Tungsten Project is among the most advanced undeveloped tungsten assets in the U.S. and could potentially begin production as early as the second half of 2026. The project is located in a historic U.S. tungsten district that previously supplied the U.S. national strategic stockpile.

"The Gentung Browns Lake Project is one of few advanced tungsten projects in the U.S. that is able to move into production quickly," said Lewis Black, Chairman and CEO of Almonty Industries. The company’s strong financial position is reflected in its healthy current ratio of 1.51 and impressive 37.16% price return over the past six months, with the stock currently trading near its 52-week high of $24.50.

The consideration shares will be subject to a one-year contractual lock-up period from the closing date and applicable securities law restrictions. The transactions require customary closing conditions, including stock exchange approval. For detailed analysis and additional insights about Almonty Industries, including 8 more exclusive ProTips, access the comprehensive Pro Research Report available on InvestingPro.

Almonty, which describes itself as a leading supplier of conflict-free tungsten, operates its flagship Sangdong Mine in South Korea and has established operations in Portugal with additional projects in Spain.

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