Almonty Industries Inc. today announced receipt of the first drawdown of US$12,818,081 on the KfW-IBEX Bank US$75.1 million project financing loan facility. Lewis Black, Chief Executive Officer of Almonty commented: "The Company has achieved its target of securing and deploying a tier 1 loan for its tier 1 tungsten project. Work will now accelerate at the Company's Sangdong Mine site in Sangdong, South Korea. Our Sangdong [...]
Almonty Industries Inc. is pleased to announce a maiden JORC 2012-compliant Inferred Mineral Resource Estimate of 21.48Mt @ 0.26% MoS2 at the 0.19% MoS2 reporting cut-off for the Almonty Korea Moly Project , which is located on the existing Sangdong Tungsten Mine, which is currently under construction in South Korea. Almonty's Chairman, President and CEO Lewis Black commented: "The AKM Project is a major growth plank for [...]
Almonty Industries Inc. is pleased to announce that it has received from KfW-IPEX Bank the fully executed utilization request for the first drawdown of US$12,818,081 from the US$75.1M facility. The mortgage registration has now commenced in South Korea and, upon completion, the first drawdown funds will be sent to Almonty Korea Tungsten. Lewis Black, President and Chief Executive Officer of Almonty commented: "The World's [...]
In accordance with Section 11.3 of National Instrument 51-102, Continuous Disclosure Obligations, the following is a report of the matters voted on at the Company's Annual and Special Meeting of Shareholders held on June 30, 2022: Common Shares represented at the Meeting: 97,480,494 Total issued and outstanding Common Shares as at Record Date: 213,486,376 Total Shareholders Voted by Proxy: 67 Percentage of issued and [...]
Almonty Industries Inc. is pleased to announce the closing of a private placement of 2,494,118 Chess Depository Interests at A$0.85 per CDI to raise gross proceeds of A$2.12 million with the Company's third largest shareholder Deutsche Rohstoff. The use of proceeds of this Placement will be for general working capital prior to the drawdown of the KfW-IPEX Bank US$75.1 million finance facility and to accelerate ongoing [...]
Almonty Industries Inc. announced the filing of its unaudited interim condensed consolidated financial statements and management's discussion & analysis for the three months ended March 31, 2022. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. The following financial information is for the three months ended March 31, 2022 and 2021: Three months ended [...]
Almonty Industries Inc. is pleased to announce the closing of its private placement to Directors of Almonty, existing shareholders and other insiders of 2,852,251 common shares at CDN$0.94 per share and 1,428,571 Units at US$0.70 per Unit to raise gross proceeds of approximately US$3.3 million. Each Unit of the 1,428,571 units will be comprised of one common share and one-half share purchase warrant with each whole [...]
Almonty Industries Inc. today announced the filing of its audited annual consolidated financial statements, management's discussion & analysis and Annual Information Form for the year ended December 31, 2021. Unless otherwise indicated, all currency amounts contained in this news release are expressed in Canadian dollars. The following financial information is for the years ended December 31, 2021 and 2020: Year ended [...]
Almonty Industries Inc. is pleased to announce it is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant to supply the South Korean battery anode manufacturing industry and the execution of a letter of intent for the funding of the Sangdong Downstream Extension Project with the Company's existing debt provider, KfW IPEX-Bank, for the funding of the Sangdong Downstream [...]
Almonty Industries Inc. is pleased to advise that it has signed a memorandum of understanding with Korean Mine Rehabilitation and Resource Corporation and Hannae For T, Ltd to strengthen the South Korean domestic supply chain through the joint promotion of recycling of rare metals using scrap resources and tungsten concentrates to downstream to nano Tungsten Oxide and other essential products for Korean domestic [...]
Almonty Industries Inc. is pleased to announce that following the recent announcement in relation to the imminent drawdown of the KfW loan to fund construction of the Sangdong Tungsten Mine , the Company has been approached and received firm commitments from an institutional investor who wanted to increase their stake in Almonty, to raise gross proceeds of A$1.5 million via the issue of 1.5 million Chess Depository [...]
Almonty Industries Inc. is pleased to announce an update in relation to the KfW US$75.1 million loan facility. Almonty advises that it is in receipt of the completion of conditions precedent letter from KfW. Almonty has now satisfied all of the 110 conditions precedent. Once the balance of the equity has been transferred to the loan account held in Korea by Almonty Korea Tungsten Company and the payment of various [...]
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