Panasqueira

Almonty Announces the Filing of Its Annual Audited Consolidated Financial Statements, MD&A and AIF for the Year Ended December 31, 2023 and $2.2M in Positive EBITDA From Mining Operations(1).

Retrieved on: 
Tuesday, April 2, 2024
Mining, Minerals, Natural Resources, Partnership, Panasqueira, KfW, Sangdong mine, Safety

The remarkable construction progress achieved throughout 2023 marks a significant milestone for the Almonty Korea Tungsten Project.

Key Points: 
  • The remarkable construction progress achieved throughout 2023 marks a significant milestone for the Almonty Korea Tungsten Project.
  • With the successful arrival of over 90% of the required machinery and equipment, the project is steadily taking shape.
  • The cornerstone of Plant Construction serves as a testament to our commitment to excellence and reinforces our dedication to meeting project milestones on schedule.
  • Together, we will create a lasting legacy and set new benchmarks in the industry with the ongoing support and partnership to continue this journey towards excellence”.

Plans to Reopen Los Santos Mine Utilizing Our Flotation Technology Developed for Our Sangdong Tungsten Mine

Retrieved on: 
Monday, May 15, 2023
Mining, Minerals, Natural Resources, AII, Los Santos mine, Operating Industries Inc., Landfill, JORC, TSX, Maintenance, Panasqueira, Nightclub, Almonty Industries

Los Santos has been in planned care and maintenance since 2020.

Key Points: 
  • Los Santos has been in planned care and maintenance since 2020.
  • Since that time, Almonty has been undertaking studies into the re-commencement of production from Los Santos via the retreating of tailings, utilizing the Company’s flotation technology developed for our Sangdong Tungsten Mine.
  • We have now successfully established that our Sangdong process can commercially treat the Los Santos tails, and with a minimal amount of adjustment to the already existing flotation circuit at Los Santos, we will now begin to plan for bringing the Los Santos Mine back into production.
  • This re-opening will not distract us from the build in South Korea, as all key members of Los Santos are still in place.

Fourth Sangdong Tungsten Mine Loan Facility Drawdown

Retrieved on: 
Monday, April 3, 2023
Mining, Minerals, Natural Resources, Term Asset-Backed Securities Loan Facility, Sangdong mine, KFW, Democracy, UPDATE, ALI, Electricity, THIS, KfW, Person, Sale, AII, KfW IPEX-Bank, IS, OF, Acquisition, Risk, Engineering, Water, Operating Industries Inc., Landfill, ANY, TSX, ESG, APT, Los Santos mine, Loan, Rare-earth element, Bank, Management, Cryptocurrency, Risk management, Almonty Industries, Panasqueira

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that it has completed its fourth scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility) located in South Korea.

Key Points: 
  • Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that it has completed its fourth scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility) located in South Korea.
  • The total amount drawn under the Loan Facility now stands at US$32.3 million.
  • Almonty’s Chairman, President and CEO Lewis Black commented:
    “We are pleased to have received the fourth drawdown from our financing partners, KfW IPEX-Bank, under the US$75.1 million project financing loan facility.
  • The terms of the Loan Facility are favourable to the Company and the Sangdong Mine is targeted to be in operation well before the Loan Facility matures and becomes repayable.

Third Sangdong Loan Facility Drawdown & Project Update

Retrieved on: 
Tuesday, November 15, 2022
Mining, Minerals, Natural Resources, ALI, Sale, Consultant, Los Santos mine, Sangdong mine, Term Asset-Backed Securities Loan Facility, Mining, KfW IPEX-Bank, TSX, ANY, THIS, TSC Industries, Inc. v. Northway, Inc., Acquisition, Person, Tungsten, KfW, Loan, OF, APT, AII, Risk, Hatch, IS, UPDATE, Bank, Management, Cryptocurrency, Risk management, Panasqueira, Almonty Industries

Almonty Industries Inc. (Almonty or the Company) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI), is pleased to announce it has completed its third scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility), and to provide a project update from the Chairman of the Company.

Key Points: 
  • Almonty Industries Inc. (Almonty or the Company) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI), is pleased to announce it has completed its third scheduled drawdown of the total US$75.1 million KfW IPEX-Bank project finance facility for its Sangdong Tungsten Mine (the Loan Facility), and to provide a project update from the Chairman of the Company.
  • The Company is pleased to report that the drawdowns are being completed on schedule as per the project drawdown agreement.
  • Almontys Chairman, President and CEO Lewis Black commented:
    We are pleased to have received the third drawdown from our financing partners, KfW IPEX-Bank, under the US$75.1 million project financing loan facility which are occurring in-line with the drawdown schedule which is occurring on time as planned.
  • The terms of the Loan Facility are favourable to the Company and the Sangdong Mine is targeted to be in operation well before the Loan Facility matures and becomes repayable.

Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated Financial Statements and MD&A for the Three and Nine Months Ended September 30, 2022 and Another Quarter of Positive EBITDA From Mining Operations(1).

Retrieved on: 
Tuesday, November 15, 2022
Mining, Minerals, Natural Resources, Sale, Los Santos mine, Mining, TSX, ANY, USD, THIS, Acquisition, Person, Tungsten, CAD, KfW, OF, APT, Risk, IS, UPDATE, Audit, Risk management, Panasqueira, Almonty Industries

Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .

Key Points: 
  • Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .
  • These statements and information are based on managements beliefs, estimates and opinions on the date that statements are made and reflect Almontys current expectations.
  • Almonty believes that securities analysts, investors and other interested parties frequently use non-GAAP financial measures in the evaluation of issuers.
  • Almontys management also uses non-GAAP financial measures in order to facilitate operating performance comparisons from period to period.

Sangdong Downstream Extension Project Progressing

Retrieved on: 
Wednesday, September 21, 2022
Engineering, Chemicals, Plastics, Mining, Minerals, Manufacturing, Natural Resources, Other Manufacturing, KfW IPEX-Bank, KfW, Hatch, ALI, Engineering, TSX, Risk, ANY, Sale, Â, THE, AII, Company, Consultant, Acquisition, Los Santos mine, Operating Industries Inc., Landfill, KFW, Industry, Mining, Tungsten, Person, OF, Letter, Forward-looking statement, EPC, Electricity, LOI, APT, Terminology, IS, UPDATE, EV, THIS, Water, Rare-earth element, Cryptocurrency, Risk management, Almonty Industries, Panasqueira

As announced on March 30, 2022, Almonty is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant (Sangdong Downstream Extension Project) to supply the South Korean battery anode and cathode manufacturing industry.

Key Points: 
  • As announced on March 30, 2022, Almonty is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant (Sangdong Downstream Extension Project) to supply the South Korean battery anode and cathode manufacturing industry.
  • Almonty is also pleased to advise that it has determined that the Sangdong Downstream Extension Project processing facility should be located at the Seok Moon Industrial Complex in South Korea.
  • In Q4 of this year, key board and staff members will visit the proposed location of the Sangdong Downstream Extension Project, along with KfW and its independent consultants, Hatch, to progress the LOI to more definitive agreements.
  • The Company looks forward to keeping shareholders informed as the Sangdong Downstream Extension Project progresses.

Sangdong Mine Operational Update and Second KfW Drawdown received

Retrieved on: 
Wednesday, August 24, 2022
Mining, Minerals, Natural Resources, KfW IPEX-Bank, Mining, CEO, AII, ALI, Engineering, Ventilation, OF, ANY, Sale, Person, Sangdong mine, Los Santos mine, Tungsten, Forward-looking statement, Compressed air, THIS, TSX, Operating Industries Inc., Landfill, THE, Weather, APT, Risk, IS, Terminology, Acquisition, Drainage, UPDATE, Rare-earth element, Risk management, Panasqueira, Almonty Industries

Earlier this month, the Sangdong region where the Companys Sangdong Mine is located in South Korea, was hit by some of the heaviest rain in decades.

Key Points: 
  • Earlier this month, the Sangdong region where the Companys Sangdong Mine is located in South Korea, was hit by some of the heaviest rain in decades.
  • Following this significant weather event, a technical audit was undertaken on the infrastructure which concluded no issues with the infrastructure.
  • Almonty is also pleased to note that the second drawdown from the KfW-IBEX Bank US$75.1 million project financing loan facility of US$4.1 million has been received in August.
  • We are also pleased to have received the second drawdown from our financing partners, KfW-IPEX Bank, under the US$75.1 million project financing loan facility which brings the total amount received to date to US$16.9 million, as scheduled.

Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated Financial Statements and MD&A for the Three and Six Months Ended June 30, 2022 and Another Quarter of Positive EBITDA From Mining Operations(1).

Retrieved on: 
Friday, August 12, 2022
Mining, Minerals, Natural Resources, Risk, Forward-looking statement, Sale, TSX, ANY, APT, UPDATE, OF, THIS, IS, Acquisition, Tungsten, IFRS, Los Santos mine, THE, Mining, Terminology, Person, Audit, Risk management, Almonty Industries, Panasqueira

Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .

Key Points: 
  • Further information about Almontys activities may be found at www.almonty.com and under Almontys profile at www.sedar.com .
  • These statements and information are based on managements beliefs, estimates and opinions on the date that statements are made and reflect Almontys current expectations.
  • Almonty believes that securities analysts, investors and other interested parties frequently use non-GAAP financial measures in the evaluation of issuers.
  • Almontys management also uses non-GAAP financial measures in order to facilitate operating performance comparisons from period to period.

Almonty Announces Receipt of the First Drawdown Amount of US$12,818,081 With the Next Drawdown of US$4,840,524 Now Scheduled for August 11, 2022

Retrieved on: 
Thursday, July 28, 2022
Mining, Minerals, Natural Resources, TSX, Acquisition, Sale, Knowledge, TSC Industries, Inc. v. Northway, Inc., ANY, Molybdenum, ALI, Forward-looking statement, Person, APT, Risk, THE, Tungsten, Mining, IS, OF, Company, THIS, Los Santos mine, Terminology, UPDATE, Growth, AII, Renewable energy, Risk management, Panasqueira, Almonty Industries, Moly

Our Sangdong mine will secure Western supply of the critical metal tungsten for many decades to come.

Key Points: 
  • Our Sangdong mine will secure Western supply of the critical metal tungsten for many decades to come.
  • Our Moly project also presents some unique domestic supply chain opportunities and will be well supported in-country.
  • READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.
  • WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Significant Maiden Molybdenum Resource Defined Adjacent to the Tungsten Orebody at Sangdong Mine in South Korea

Retrieved on: 
Monday, July 18, 2022
Mining, Minerals, Natural Resources, Slate, THE, Growth hacking, Person, Competent person, Communication, Tungsten, IS, Nature, Mining, Competence, Glass, Mineral resource estimation, QA/QC, ICP, Forward-looking statement, TSX, Resource management, ANY, LE, QA, Los Santos mine, CRMS, OF, Collection, Risk, Korea Tungsten Company, Compressed air, Molybdenum, Microsoft Excel, Terminology, Wardrop, Acquisition, AKM, Database, KTMC, APT, UPDATE, Molybdenum disulfide, THIS, Element, Sale, OTL, SMS, Jangsan, Uranium, Rare-earth element, Silviculture, Risk management, Panasqueira, WMC, Almonty Industries, Quartzite

This formation contains the Sangdong Molybdenum Stockwork (SMS), a zone of quartz veins hosting predominantly molybdenum mineralisation (Kuehnbaum, 2006 and Le, 2001).

Key Points: 
  • This formation contains the Sangdong Molybdenum Stockwork (SMS), a zone of quartz veins hosting predominantly molybdenum mineralisation (Kuehnbaum, 2006 and Le, 2001).
  • It is currently considered that the deep molybdenum mineralisation is likely to comprise a system of sheeted or stockwork veins.
  • In previous evaluation work, a mineralised envelope had been defined which terminated upwards at the top of the quartzite.
  • The OTL drilling which intersected the area of molybdenum mineralisation, covers 4,000m over 6 holes.