Business
Almonty Industries Reports Fiscal Year 2024 Financial Results
Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX:...
About this update from Almonty Industries Inc.
[{"type":"text","content":"Almonty Industries Reports Fiscal Year 2024 Financial Results\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwmarginl1 { margin-left: 30px }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl8 { padding-left: 40px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth15 { width: 15% }\n.bwwidth20 { width: 20% }\n.bwwidth5 { width: 5% }\n.bwwidth50 { width: 50% }\n.bwwidth55 { width: 55% }\n \n\n\n\n Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI), a leading global producer of tungsten concentrate, today announced its fiscal year 2024 financial results.\n \n\n\n Financial Summary:\n \n\n\n Unless otherwise indicated, all figures are expressed in Canadian dollars.\n \n\n\n\n\n\n\n\n\n\n\n Fiscal Year Ended Jan. 31,\n \n\n\n\n\n\n\n\n CAD$ in millions\n \n\n\n\n\n\n 2024\n \n\n\n\n\n\n 2023\n \n\n\n\n\n\n % Increase\n \n\n\n\n\n\n\n\n Revenue\n \n\n\n\n\n $28.8\n \n\n\n\n $22.5\n \n\n\n\n 28.0%\n \n\n\n\n\n\n\n Income from Mining Operations\n \n\n\n\n\n $2.0\n \n\n\n\n $1.1\n \n\n\n\n 81.8%\n \n\n\n\n\n\n\n Operating Expenses\n \n\n\n\n\n $8.9\n \n\n\n\n $7.0\n \n\n\n\n 27.1%\n \n\n\n\n\n\n\n Net Loss\n \n\n\n\n\n $(16.3)\n \n\n\n\n $(8.8)\n \n\n\n\n (85.2%)\n \n\n\n\n\n\n\n Adj. EBITDA (non-IFRS)\n \n (1)\n \n\n\n\n\n\n $(3.06)\n \n\n\n\n $(4.39)\n \n\n\n\n 30.3%\n \n\n\n\n\n\n Key Fiscal 2024 & Subsequent Operational Highlights:\n \n\n\n\n Obtained shareholder approval for a proposed domestication from Canada to the United States to empower Almonty’s long-term competitiveness and support U.S. industry in light of global geopolitical tensions, with 99.6% of votes cast in favor.\n \n\n Advancing final preparations ahead of an expected near-term operations startup at the Company’s Sangdong Tungsten Mine in...