Almonty Industries Inc. Receives 'Buy' Rating from Sphene Capital

On August 19, 2024, Sphene Capital GmbH classified Almonty Industries Inc. with a "Buy" recommendation. The new target price is CAD 2.31, an increase from the previous CAD 2.13, reflecting a projected share price performance of 203.4% over 36 months.

This update is driven by higher production and tungsten recovery rates at the Panasqueira Mine. With the Panasqueira Mine being the world’s longest producing tungsten mine and the Sangdong project under construction, Almonty is positioned to become a major global supplier of conflict-free tungsten.

Sphene Capital uses a two-stage Discounted Cashflow model to value Almonty's current and future assets, including Sangdong, Panasqueira, Los Santos, and the Valtreixal development project. Their positive outlook is in line with tungsten's critical and strategic classification by various countries due to its technological importance and supply instability.