Almonty Industries Inc. (ALM) Form 6-K — Aug 12, 2026
Almonty Industries reported Q2 2026 revenue of C$43.0 million, up 498% year-over-year, swinging to net income of C$181.8 million from a C$58.2 million loss, with Adjusted EBITDA of C$17.6 million versus negative C$4.8 million a year ago. Reported net income includes C$173.1 million of net non-cash gains on revaluation of derivative and warrant instruments under IFRS fair value accounting; the underlying operating improvement was driven by European APT tungsten prices rising to US$3,075 per MTU from US$453 per MTU, producing C$26.1 million of income from mining operations at a 60.7% gross margin.
Key figures
- Eps
- C$0.64 basic / C$0.62 diluted (vs. (C$0.30) in Q2 2025)
- Revenue
- C$43.0 million (Q2 2026); C$68.4 million (H1 2026)
- Net Income
- C$181.8 million (vs. (C$58.2) million loss in Q2 2025)
- Total Debt
- C$862.2 million (C$813.1 million net of deferred financing costs)
- Debt Amount
- US$800 million (C$1,127.4 million) principal convertible senior notes
- Revenue Yoy
- 498%
- Total Assets
- C$1.704 billion
- Cash Position
- C$1.227 billion (vs. C$268.4 million at December 31, 2025)
- Interest Rate
- 2.25% coupon; 15.32% effective interest rate on host liability
- Maturity Date
- July 1, 2031
- Shares Outstanding
- 288109013
- Gross Margin
- 60.7% of revenue
- Kfw Repayment
- EUR14,662 thousand repaid in full post-quarter (July 15, 2026)
- Capped Call Cap
- US$41.36 (capped call cost US$94.8 million / C$132.2 million)
- Adjusted EBITDA
- C$17.6 million vs. (C$4.8) million in Q2 2025
- Conversion Price
- approximately US$27.40 per share (36.4950 shares per US$1,000)
- Apt Tungsten Price
- US$3,075/MTU in Q2 2026 vs. US$453/MTU in Q2 2025
- Gtp Offtake Amendment
- term +6 years, volumes +40%, pricing +~6.3%
- Operating Cash Flow H1
- C$31.6 million vs. (C$14.9) million use in H1 2025
- General Admin Expenses
- C$8.9 million vs. C$4.1 million in Q2 2025
- Non Cash Derivative Gains
- C$173.1 million net gains included in Q2 net income
- Sangdong Target Capacity
- 640,000 tonnes/year Phase I; up to 1.2 million tonnes/year Phase II
- Income From Mining Operations
- C$26.1 million vs. (C$0.9) million loss in Q2 2025
AI analysis
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