Business
Almonty Industries Inc. Announces the Process for the Secondary Listing on the ASX Has Now Been Initiated.
TORONTO / Jan 19, 2021 / Business Wire / Almonty Industries Inc. (“Almonty”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) is pleased to announce that the applicat
About this update from Almonty Industries Inc.
[{"type":"text","content":"TORONTO / Jan 19, 2021 / Business Wire / Almonty Industries Inc. (“Almonty”) (TSX: AII / OTCQX: ALMTF / Frankfurt: 1MR) is pleased to announce that the application for the secondary listing on the Australian Stock Exchange (“ASX”) has begun with the estimate for the listing to be effective no later than April 2021. Almonty’s Chairman, President and CEO Lewis Black commented: “There has been overwhelming market interest in Australia for further exposure to Industrial metals and into the Sangdong Tungsten and Moly projects specifically. Accordingly, we have now initiated the process with Australian counsel. The expectation is to be fully on the ASX trading first half of April 2021, given that the process is simplified due to our listing on the TSX main board. Given the interest we have received supporting this listing, we expect liquidity and stock value to increase with the trading on the ASX. This strategy aligns with our transitioning more into Asia and Australia financial markets. Ultimately, a Korean listing will be examined once the full corporate team is in place in Korea.” About Almonty The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain. The Los Santos mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north-western Spain. Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s SEDAR profile at www.sedar.com. Legal Notice The release, publi...