Sphene Capital sets Almonty price target at USD 26.40, keeps Buy rating

By Public Technologies
  • Sphene Capital reiterated a Buy rating on Almonty Industries, setting a 36-month target price of USD 26.40.
  • Target implies 92.4% upside from the last close of USD 13.72, reflecting a shift from a prior CAD 38.90 target.
  • Report highlighted a long-term take-or-pay offtake deal with Sandvik unit Wolfram Bergbau und Hütten for Los Santos tailings concentrate.
  • Agreement includes a conditional one-time upfront payment of USD 3 million, with pricing linked to tungsten and a contractual floor.
  • Sphene said the offtake structure could de-risk a Los Santos restart by improving cash-flow visibility and reducing required capital.


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