Almonty Industries Inc T.AII

Alternate Symbol(s): ALMTF

Metals & Mining Industrial Metals & Minerals

Almonty Industries Inc. is engaged in the mining, processing and shipping of tungsten concentrate from its Los Santos tungsten mine located near Salamanca, Spain, the processing and shipping of tungsten concentrate from its Panasqueira tin and tungsten mine in Covilha, Castelo Branco, Portugal, the evaluation of its Valtreixal tin and tungsten mine project located in Western Spain, as well as the evaluation and expected re-opening of its Sangdong tungsten mine project located in South Korea.

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Almonty Industries Inc > Fireweed announces agreement on Mactung tungsten project

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Comment by QuarterDollaron Feb 28, 2023 8:56pm

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Post# 35311379

RE:Fireweed announces agreement on Mactung tungsten project

@therunner

I don't think they have any intention to develop Mactung.
First of all, tungsten requires a specialized skill which has been lost in North America, so I doubt they have that skill set.
Secondly, they need at least $400M to develop their Zinc project and since mines take at least 10 years to get into production, those CapEx costs are only going to increase with Inflation.
According to their website, the Zinc mine has an 18 year mine life and who knows how profitable that will be.
So I think they will want to sell off Mactung to aquire funds for their main Zinc project.
Another thing to note, they changed their company name 8 months ago. I think they are trying to change their image to attract new investment.
I would wait until they have the CapEx funds before considering investing.