Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ALMONTY INDUSTRIES INC. We currently have 6 research reports from 2 professional analysts.
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ALMONTY INDUSTRIES INC
ALMONTY INDUSTRIES INC
Tough as tungsten
16 Aug 16
Operating against persistently low tungsten prices, Almonty has continued to grow its business and has raised two-thirds of the capex required, as debt, for its flagship South Korean Sangdong project, with the remainder likely via equity-linked instruments. We consider development of Sangdong as key to the company managing its gearing levels and the current low tungsten price environment. Aside from growing its production capabilities, Almonty plans to take over Vietnamese ferro-tungsten producer ATC Alloys, thereby diversifying into downstream processing.
APT price rebound key, finances bolstered
11 Mar 16
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.
Robust Q315 results despite weaker APT
17 Sep 15
Almonty reported solid Q315 financial results, with an adjusted EBITDA loss narrowing to C$0.9m compared to C$1.0m in Q215 and C$1.5m in Q115, against the backdrop of a falling APT price. The results were supported by the continuing strong performance from Los Santos, which benefited from improved plant recovery and higher processed grade. Having incorporated Sangdong, the reported results and updated tungsten price assumptions into our model, we revise our valuation of Almonty from C$1.00/share to C$1.26/share.
Woulfe transaction implications
31 Jul 15
Following the recent transaction to acquire Woulfe Mining’s equity and debt, Almonty has proposed a merger of the companies, which would give Woulfe shareholders c 40% share in the combined entity. Woulfe’s main asset is the past-producing Sangdong tungsten project, which boasts low opex, capital intensity and a relatively short lead time. We have attempted a preliminary valuation of the project, estimating its NPV10 at C$0.7 per Almonty share on a funded and fully diluted basis, using a US$300/mtu APT price and assuming the IMC JV goes ahead.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.