ALMONTY INDUSTRIES - TUNGSTEN GOES TO AUSTRALIA
Today's high-tech producers are confronted with the highest demands on a wide variety of materials. Particular properties of tungsten are indispensable for certain purposes. Tungsten is a silver-white shiny heavy metal of high density, which becomes brittle at very low impurities. It is the chemical element with the highest melting and boiling points. Its best-known historical use is as the filament in lamps and tubes; today, its application is as an alloying metal with superior hardness and density. Tungsten is also needed for many military purposes and can only be replaced by uranium in its applications.
The tungsten content of the continental earth's crust is about 1 ppm or 0.0001 percent by weight, and the metal has not yet been detected in pure form in nature. The most important tungsten ore minerals are wolframite and scheelite, as well as the rarer stolzite and tuneptite. The largest deposits are found in China, Peru, the USA, Korea, Bolivia, Kazakhstan, Russia, Austria and Portugal. Tungsten ores are also found in the Saxon Ore Mountains. Measured and suspected world deposits currently amount to 2.9 million tons of pure tungsten.
Almonty owns tungsten mining sites in Spain, Portugal and South Korea. The South Korea project will become the largest in the group and is likely to go into production in 2022. All three mines together account for an excellent single-digit percentage of the world's supply, and the abundance in Korea has been able to secure KfW financing in 2020. The Sangdong molybdenum deposit is also exciting, valued at today's prices, it would triple the total Almonty value on the stock exchange. Almonty is now going public on the Australian Stock Exchange in April. The listing could pick up immediately there because the Australians are experts in commodity stocks. We are too, and therefore see last opportunities to jump on the bandwagon at prices around CAD 0.78.
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