Update: APT price rebound key, finances bolstered
The present weakness in tungsten (APT) prices continues to be reflected in Almonty’s financial results, against a backdrop of steady production, improving costs and corporate efforts to strengthen its balance sheet. Alongside its corporate activity, Almonty is progressing optimisation of its Wolfram Camp Mine (WCM) to bring costs in line with Los Santos’s, as well as progressing development of its Sangdong asset (commissioning is expected in 2017). With APT prices at 10-year lows, it is clear a rebound in prices is the key for Almonty emerging as the pre-eminent global tungsten producer and maintaining itself as a going concern.Almonty Industries is engaged in mining, processing and shipping of tungsten concentrate from its tungsten mine at the Los Santos Project.
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