Group 1 - Almonty Industries Inc. (NASDAQ:ALM) experienced a significant stock price increase, reaching an all-time high of $13.60 during intra-day trading, ultimately closing up by 17.97% at $13.39 [2][6] - The surge in Almonty Industries' stock is attributed to the announcement of President Trump's Project Vault, which aims to enhance domestic rare earth production and reduce reliance on China, including over 50 minerals identified as critical by the Interior Department [2][4] - Almonty Industries is actively developing the Sangdong tungsten mine in South Korea, with plans to initiate commercial operations in the first phase and a subsequent expansion in 2027, targeting an annual production of 460,000 MTU [3][4] Group 2 - The Sangdong mine is projected to be one of the largest and longest-lasting tungsten mines outside of China, positioning Almonty Industries as a key supplier to Western markets [4] - Almonty Industries acquired the Sangdong mine in 2015 when US mining operations were halted and has since focused on restoring the site to production [4]
Almonty Industries (ALM) Skyrockets to All-Time High on Project Vault Update