Sangdong Mill's Restart on Full Steam Ahead of Contracted Volumes

Almonty Industries' Sangdong mill in South Korea is operating around the clock, seven days a week, as it seeks to settle into commercial production after being idle for three decades.

The stock has gained 50 percent since the start of the year, closing at EUR 11.91 on Friday, but has pulled back 22 percent over the past 30 days.

The company's immediate priority is operational consistency, with management focusing on extending run times and fine-tuning grinding and separation processes to reach continuous operation.

Goldman Sachs initiated coverage of Almonty with a 'Neutral' rating and a USD 13.00 price target, citing an expected normalization of tungsten prices and a more gradual ramp-up at Sangdong than the market consensus assumes.