Almonty Industries (AII)

Business description

Almonty Industries is an independent tungsten producer, with operating mines in Spain, Australia and Portugal. It also has the large and low-cost development-stage flagship Sangdong (South Korea) and earlier stage Valtreixal (Spain) projects.

Stock data

Market cap.C$30.1m
Last closeC$0.21
High / Low (52 weeks)C$0.4 / C$0.2
Stock market listingCN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(15.7)(20.4)(36.8)
Relative *(15)(17.5)(39.7)

* % Relative to local index

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Company news

Almonty Industries and Woulfe Mining Announce Proposed Merger to Create the ...

Tue, 27 Jan 2015 11:26:15 GMT

Almonty Industries Inc. to Acquire Woulfe Mining Corp. and Become the Leading ...

Wed, 08 Jul 2015 02:55:47 GMT

Almonty Industries Inc. Announces Its Subsidiary, Almonty Korea Tungsten ...

Wed, 06 Jan 2016 21:02:23 GMT

Almonty Industries Inc. Announces Granting of Stock Options

Thu, 24 Dec 2015 18:18:32 GMT

Almonty Industries Inc. Completes Acquisition of Woulfe Mining Corp. and ...

Fri, 11 Sep 2015 10:45:36 GMT

Y/E Sep Revenue (C$m) EBITDA (C$m) PBT (C$m) EPS (c) P/E (x) P/CF (x)
2015A 36.1 (7.9) (19.2) (36.8) N/A 13.6
2016A 37.3 (4.6) (15.2) (15.0) N/A N/A
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 23/06/2017

Investment summary

Almonty’s flagship development asset is the large high-grade Sang Dong tungsten project in South Korea. On 9 January, Almonty announced that it had received final construction permits, with the result that it is now fully permitted. In the meantime, it has also acquired the remaining 49% of the Valtreixal mine in Spain that it did not already own, via a series of payments to Siemcalsa for €1.5m (a €0.75m reduction cf the asking price).

Last updated on 03/07/2017

Industry outlook

FY16 results recorded revenues 3% higher than in FY15 at C$37.3m on a like-for-like basis, with costs down 16%. The net loss for the period was C$21.2m, or 22c per share, a narrowing of 42% cf FY15. This compares with a C$4.6m net loss in Q117, or 4c per share. Since then, Almonty has released an updated reserve and resource statement at Panasqueira and an additional one-year, fixed-price off-take agreement for its Los Santos mine, as well as renegotiating the terms of a number of its debt funding and convertible loan agreements. Our forecasts remain under review.

Last updated on 03/07/2017

Key management

Lewis Black , CEO
Dennis Logan, CFO

Company address

100 King Street West
Suite 5700
Toronto
M5X 1C7
Canada
+1 647 438 9766
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