Toronto, January 9, 2026, 13:01 EST — Regular session
- Almonty shares fall about 7% in Toronto; U.S.-listed stock drops nearly 8%
- A 30-day lock-up tied to December’s equity deal ended on Jan. 8
- Investors now watch for selling pressure, mine ramp-up updates and the next results date in late March
Almonty Industries Inc shares fell 6.8% to C$12.01 in Toronto by around 1 p.m. EST, while the miner’s Nasdaq-listed stock was down 7.8% at $8.58. The stock has traded between C$12.01 and C$12.94 on the day, after closing at C$12.88 on Thursday. 1
The drop comes a day after a short “lock-up” expired, according to S&P Capital IQ data. A lock-up is an agreement that stops certain holders from selling shares for a set period after a stock sale, and the note said the restriction ran from Dec. 9 to Jan. 8. 2
That matters now because Almonty is still digesting a large capital raise and the stock has been volatile. When more shares become freely tradable, the balance between buyers and sellers can shift fast, particularly in smaller names where liquidity can thin out at midday.
In December, Almonty closed an upsized underwritten offering that raised gross proceeds of $129.375 million by selling 20.7 million shares at $6.25 each, the company said. CEO Lewis Black said at the time the company had “no present intention” of completing further offerings under its base shelf prospectus. 3
The company has tried to keep attention on operations instead of paper supply. On Jan. 6, Almonty announced Guillaume Wiesenbach de Lamaziere as chief development officer, and Black said “active mining operations” were beginning at its Sangdong tungsten mine. 4
A Jan. 2 SEC filing also showed an offtake agreement — a sales contract that commits a buyer to take product — between Almonty unit Beralt Tin and Wolfram and Sumitomo Electric Industries for wolframite concentrate from the Panasqueira mine in Portugal. The agreement runs through Dec. 31, 2026 and uses a price formula tied to APT (ammonium paratungstate, a tungsten benchmark) in U.S. dollars per MTU of WO3, with several commercial terms redacted in the public exhibit.
On the shareholder side, Deutsche Rohstoff AG said this week its stake fell below 10% after Almonty’s December financing increased the number of shares outstanding, even though it said it had not bought or sold Almonty securities. 5
But lock-up expiries do not always translate into heavy selling, and some holders can wait for better prices or clearer operating data before moving. Any stumble in mine ramp-up or a softer tungsten market would also make it harder for the stock to find a floor quickly after a sharp pullback.
The next test is whether the selling eases as the market absorbs the newly unlocked paper, and whether Almonty provides fresh detail on production progress. Traders also have late March circled, with TipRanks listing Almonty’s next report date as March 26, 2026. 6
