5 Stocks With Unexpected Gains
Insider Monkey – Free Hedge Fund and Insider Trading Data (Angelica Ballesteros)In this article, we will look at the 5 Stocks With Unexpected Gains. For a deeper discussion and an extended list, please see 10 Stocks With Unexpected Gains.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
5. Almonty Industries Inc. (NASDAQ:ALM)
Almonty rallied for a fourth straight session on Monday, jumping 8.27 percent to close at $16.63 apiece, as investors loaded portfolios ahead of the official start of its tungsten mine operations in South Korea.
In a statement last week, Almonty Industries Inc. (NASDAQ:ALM) said that it has already completed the redevelopment of the Sangdong mine site and is now ready to start mining operations.
It can be learned that Almonty Industries Inc. (NASDAQ:ALM) acquired the tungsten mine when the US halted its mining operations in 2015. Since then, it has worked on bringing the site back into production.
Phase 1 of the facility is designed to process approximately 640,000 tons of ore annually, while a phase 2 expansion, scheduled for 2027, is expected to further bolster production capacity.
The Sangdong mine is seen to be one of the largest and longest-life tungsten sites outside of China, capable of supplying approximately 40 percent of global demand, positioning the listed firm as a cornerstone supplier to Western markets.
Earlier, Almonty Industries Inc. (NASDAQ:ALM) Chairman, President, and CEO Lewis Black said that the company has already secured binding hard floor offtake agreements, including long-term commitments, to supply tungsten oxide for US defense applications.
This, he said, provided future revenue visibility and validated the strategic value of the company’s production.
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