Almonty Industries Inc. is pleased to announce that the maturity dates for approximately $54.1 M of all its debt facilities have been extended. The bulk of this $54.1m is now maturing end of Q4 2023. The existing terms for all of the $54.1 M debt facilities have remained the same as they were previously which are interest only balloon facilities. The Company is also pleased to announce the appointment of JH Kim as our CFO [...]
Almonty Industries Inc. is pleased to announce that it has now scheduled a start date of the week of April 12th, 2021 to commence a 12,500m drilling campaign to convert the existing historical data for its Sangdong Molybdenum Project into a NI 43-101 and JORC compliant report. The estimated time of this campaign is approximately 6 months to completion. This campaign will be focused around the previous 12,390m of [...]
Almonty Industries Inc. is pleased to announce the expansion of its current Environmental, Social and Governance program at its Panasqueira mine in Portugal and at its Sangdong project in South Korea. At Panasqueira, a solar project is being implemented over the next 12 months, building a 2.52 MW facility to produce 4.1 million KWH per year which represents 21.5 % of our consumption at the mine. At Sangdong, a third-party [...]
Almonty Industries Inc. is pleased to announce the closing of its private placement with existing European shareholders of 2,830,000 shares at CDN$0.75 per share and which is a continuation of the private placement conducted by Lewis Black and Deutsche Rohstoff AG at the beginning of this month. The use of proceeds of this placement will be to pay the KFW arrangement fee on the now active US$75.1 million loan. This cost [...]
Almonty Industries Inc. is pleased to announce that the application for the secondary listing on the Australian Stock Exchange has begun with the estimate for the listing to be effective no later than April 2021. Almonty’s Chairman, President and CEO Lewis Black commented: “There has been overwhelming market interest in Australia for further exposure to Industrial metals and into the Sangdong Tungsten and Moly projects [...]
Almonty Industries Inc. is pleased to announce the first two new additions to our team as the Company begins its transition toward a much greater focus on Korea and the greater Asian and Australian financial markets. These appointments will become effective February 1st, 2021. Firstly, we would like to welcome to our Board of Directors Mr. James Kim. Mr. Kim is the current Chairman and CEO of the American Chamber of [...]
Almonty Industries Inc. is pleased to announce that it has closed a non-brokered private placement raising gross proceeds of US$1,201,000 through the issuance of 2,050,251 shares at a price of CDN$0.75 per share representing a more than 17% premium to current market. Lewis Black, Chairman, President and CEO of Almonty, and Deutsche Rohstoff AG are the sole participants in this equity raise. Proceeds from the private [...]
Almonty Industries Inc. is pleased to announce an end-of-year update. Almonty Korea Tungsten Sangdong project – After the previously announced execution of the loan agreements, the Company wishes to update the market on its current status. The Monty B portal has been completed on time and was increased from 120m to 131.1m. The office/Laboratory has also been completed on time. The phase 2 mine development of 600m will [...]
Almonty Industries Inc. is pleased to announce the execution of the Facility Agreement and the Completion Agreement with KfW-IPEX Bank GmbH for the US$75.1 million project financing for its wholly-owned Sangdong Mine located in South Korea. In addition, the Company also announces the execution of a US$20 million Cost Overrun guarantee and the US$9.8 million Debt Service Reserve Account guarantee as required for the [...]
Almonty Industries Inc. today announced the filing of its unaudited interim consolidated financial statements and management’s discussion & analysis for the three and nine months ended September 30, 2020. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. The following financial information is for the three and nine months ended September 30, 2020 and 2019 [...]
Almonty Industries Inc. is pleased to provide an update for its wholly-owned Sangdong Mine located in South Korea. The Company reports that it has received, from the South Korean government, an extension of its Extraction Rights permit to July 1, 2031. In addition, once the Company finalizes its US$75 million project financing with the KfW-IPEX bank, the extraction permit will automatically be extended to July 1, 2041 [...]
Almonty Industries Inc. today announced the filing of its unaudited interim consolidated financial statements and management’s discussion & analysis for the three and six months ended June 30, 2020. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. The following financial information is for the three and six months ended June 30, 2020 and 2019: Three months [...]
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