Q: I’m looking into Almonty and trying to separate substance from narrative.
Tungsten is often framed as a U.S. critical mineral and the West is clearly dependent on China, but I’m wondering how much that actually translates into shareholder value. Sangdong in South Korea only restarted production in 2025, but it did operate historically and shut down mainly due to pricing and Chinese oversupply rather than geology.
Management also recently hired a former U.S. general into a senior operating role, which could signal an attempt to align with defense or strategic supply chains, though it’s unclear how tangible that is in practice.
What % of portfolio allocation would you recommend? And how do you view the future growth of this company?
Tungsten is often framed as a U.S. critical mineral and the West is clearly dependent on China, but I’m wondering how much that actually translates into shareholder value. Sangdong in South Korea only restarted production in 2025, but it did operate historically and shut down mainly due to pricing and Chinese oversupply rather than geology.
Management also recently hired a former U.S. general into a senior operating role, which could signal an attempt to align with defense or strategic supply chains, though it’s unclear how tangible that is in practice.
What % of portfolio allocation would you recommend? And how do you view the future growth of this company?
5i Research Answer:
Tungsten is considered a critical mineral in an industry that China dominates with 80% of...