Almonty tungsten funding targets $112.5mn for W and Mo projects

Almonty Industries

Almonty Industries has launched Almonty tungsten funding to raise $112.5mn for growth projects. The company will sell 18 million shares at $6.25 each in United States markets. The syndicate includes BofA Securities, Cantor Fitzgerald, D.A. Davidson, and AGP/Alliance Global Partners. The deal also offers a 30-day option for 2.7 million additional shares.

Almonty will direct the proceeds to three priority workstreams across Montana, Portugal, and South Korea. The plan covers development at its Gentung Browns Lake tungsten project, expansion at the Panasqueira Mine, and drilling at the Sangdong Mine. Therefore, the raise supports near-term execution plus working capital flexibility.

Funding priorities and near-term project milestones

Almonty tungsten funding puts Montana’s Gentung Browns Lake on a clearer timeline for first output. Management expects production to start in the second half of 2026, based on its recent update. Meanwhile, the company will use capital to advance exploration and site development work.

Almonty will also push tungsten project financing into brownfield improvements at Panasqueira. The company started drilling programs at Panasqueira during the July–September quarter. As a result, it can target throughput upgrades and resource confidence for longer mine life.

What the raise signals for critical metals supply chains

Almonty tungsten funding highlights how miners are funding security-of-supply goals through capital markets. Tungsten supports aerospace, defense, and industrial tooling demand, where buyers value stable concentrates. Meanwhile, molybdenum supports high-performance steels and energy infrastructure, which remain strategic under reindustrialization policies.

The company’s three-region footprint also spreads operational risk across different regulatory environments. Therefore, customers can diversify sourcing options while Almonty scales. However, investors will watch execution discipline and cost control across multiple sites.

The Metalnomist Commentary

This raise fits a broader shift toward critical metals re-shoring and allied-supply buildouts. Therefore, financing access now becomes a competitive advantage for mid-tier producers. Meanwhile, Almonty’s multi-asset pipeline could attract long-term offtake discussions if milestones stay on track.