Almonty Industries (ALM) Commences Processing Operations at Sangdong Mine

Almonty Industries Inc. (NASDAQ:ALM) is one of the undervalued stocks to buy according to the Wall Street. On July 1, Almonty announced the commencement of processing operations at its Sangdong Mine in South Korea, marking the transition from mine development to active, revenue-generating production. During June, the company began feeding its newly commissioned plant with stockpiled ore to produce saleable tungsten concentrate, establishing a critical operational milestone for the facility.

The company entered the production phase with approximately 139,700 tonnes of run-of-mine ore, featuring a blended grade of roughly 0.25% tungsten trioxide. The processing plant is currently utilizing this stockpile to optimize ore blending and ensure consistent feed quality during the initial ramp-up, with management anticipating higher grades as operations progress.

Almonty Industries (ALM) Commences Processing Operations at Sangdong Mine

Everett Historical / shutterstock.com

This initial stockpile represents about 2.6 months of production capacity for the plant’s first phase, holding an estimated gross in-process value of approximately $68 million at current market prices. By moving into this active phase, Almonty Industries Inc. (NASDAQ:ALM) solidifies its position as a global producer of tungsten concentrate while leveraging the high-purity potential of the Sangdong deposit.

Almonty Industries Inc. (NASDAQ:ALM) is a leading supplier of tungsten to the defense and advanced technology markets. The company has established operations in Portugal and additional projects in Spain and the US.

While we acknowledge the risk and potential of ALM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ALM and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1