Edison Investment Research - Almonty Industries (AII) Almonty Industries - Termination of coverage

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Edison Investment Research

Almonty Industries - Termination of coverage

Edison Investment Research is terminating coverage on Almonty Industries (All). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

12/11/2017 1 EN

Underlying

Almonty Industries

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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CA0203981034 Toronto Stock Exchange Canada

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Defence spendings support tungsten demand

As geopolitical tensions continue to rise, the demand for advanced defence technologies is likely to increase, driving the demand for tungsten armour which is less regulated than depleted uranium and also considered “exportable” by the US government. With the world’s longest producing mine (Panasqueira) and the world’s largest tungsten deposit (Sangdong) under construction, Almonty is – in our view – very close to becoming the most important global supplier of conflict-free tungsten material. We continue to value the shares of Almonty Industries using a two-stage Discounted Cashflow entity mod...

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Almonty Industries - Termination of coverage

H1/2024 above estimates – increasing price target to CAD 2.31

Defence spendings support tungsten demand

H1/2023 in-line with estimates – Los Santos about to reopen

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

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