Core Viewpoint - Almonty Industries Inc. has announced the acquisition of the Gentung Browns Lake Tungsten Project in Montana for a total consideration of US$9,750,000, positioning itself for near-term tungsten production as early as the second half of 2026 [1][2][5] Acquisition Details - The acquisition involves a cash payment of US$750,000 and the issuance of US$9 million in common shares, with the share price determined on the signing day [3] - The transaction is subject to customary conditions, including stock exchange approval, and is expected to close around October 31, 2025 [4] Project Significance - The Gentung Browns Lake Tungsten Project is noted as one of the most advanced undeveloped tungsten assets in the U.S., with significant preparatory work already completed [2] - The project is located in a historic tungsten district that previously supplied the U.S. national strategic stockpile, providing existing infrastructure for production [2] Strategic Positioning - The acquisition allows Almonty to leverage its proprietary tungsten processing and mining technologies, expanding its footprint in the U.S. market [5] - As demand for tungsten grows in defense and manufacturing sectors, Almonty aims to strengthen its position as a leading non-Chinese supplier of tungsten concentrate [5][6]
Almonty to Acquire Strategic U.S. Tungsten Project in Beaverhead County, Montana