Report
Peter Thilo Hasler

Partnership agreement with American Defense International

Almonty Industries has entered into a strategic partnership with American Defense International (ADI), a leading government relations and business development firm. Representing more than 100 organizations across 11 countries, ADI has, in our view, a proven track record of securing key government relationships, advancing strategic initiatives, and facilitating global expansion. We expect that this collaboration will strengthen Almonty’s positioning within the critical metals sector, supporting both the U.S. federal government and the U.S. defence and technology industries.

With Almonty on its way to becoming a leading supplier of two valuable minerals—tungsten and molybdenum—we confirm our target price of CAD 5.20 per share, derived from a two-stage Discounted Cash Flow (DCF) model that incorporates both current and future producing assets—Sangdong (tungsten and molybdenum), Panasqueira, and Los Santos—along with the discounted value of the Valtreixal development project. We reaffirm our Buy rating on Almonty Industries shares.
Underlying
Almonty Industries

Almonty Industries is engaged in mining, processing and shipping of tungsten concentrate from its tungsten mine at the Los Santos Project.

Provider
Sphene Capital GmbH
Sphene Capital GmbH

Founded in 2010, Sphene Capital is a German based pure-play research house offering state-of-the-art research and evaluation services to European small- and mid-caps by avoiding typical conflict of interests of traditional investment banks.

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Analysts
Peter Thilo Hasler

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