Almonty Industries Posts Record-Breaking Second Quarter

Almonty Industries has reported a record-breaking second quarter with revenue surging by 498% year-over-year to $43.0 million Canadian dollars, driven primarily by the European ammonium paratungstate (APT) price increase.

The company's net profit was an impressive $181.8 million Canadian dollars, flipping a previous loss of $58.2 million into a significant gain. However, management notes that this figure includes non-cash items such as fair-value adjustments on derivatives and warrants, which totaled $173.1 million Canadian dollars.

Excluding these one-time gains, Almonty's adjusted EBITDA reached $17.6 million Canadian dollars, marking a significant improvement over the previous year's loss of $4.8 million.