Almonty Industries Strengthens Defense Sector Ambitions with Key Appointment

In a strategic move signaling its deepening focus on the defense industry, Almonty Industries has appointed retired Brigadier General Steven L. Allen as its new Chief Operating Officer. The tungsten specialist is bringing decades of military logistics expertise into its executive ranks, a decision analysts interpret as positioning the company for significant contracts within the Western defense supply chain.

Steven L. Allen’s appointment is directly tied to Almonty’s operational ambitions. With over 33 years of military leadership, including a recent role as Logistics Director for U.S. Forces in Korea, his background is considered pivotal. His primary mandate will be overseeing and optimizing supply chains from the company’s Panasqueira mine in Portugal and its flagship Sangdong project in South Korea.

Concurrently, Allen is expected to accelerate development at the recently acquired Gentung Browns Lake project in Montana, USA. CEO Lewis Black highlighted the new COO’s proficiency in establishing complex logistical frameworks and his regional knowledge of Korea as critical assets for generating long-term shareholder value.

Building a Non-Chinese Tungsten Pipeline

This executive hire reinforces Almonty’s core strategic objective: establishing a tungsten supply chain independent of China, a practice known as "friendshoring." Tungsten is an essential material for defense and high-technology applications. Upon reaching full operational capacity, the Sangdong mine alone has the potential to supply more than 80% of the world’s tungsten produced outside of China.

Should investors sell immediately? Or is it worth buying Almonty?

The acquisition of the Montana asset and the installation of a senior military figure in operations suggest the company is aligning itself to meet the stringent compliance and supply standards required for governmental defense contracts.

Market Performance and Analyst Outlook

The company’s strategic direction appears to be resonating with investors. Almonty’s stock has recorded a gain exceeding 350% on the NASDAQ so far in 2025. Financial analysts maintain a positive stance on the equity:

• Research firms DA Davidson and Oppenheimer raised their price targets to $12.00 in November.
• The consensus rating stands at "Moderate Buy," with an average price target of approximately $10.17.
• A liquidity position of $111.6 million (as of September 30) provides substantial financial flexibility for ongoing expansion efforts.

Market attention now turns to the final commissioning stages of the Sangdong mine and upcoming fourth-quarter production updates. Investors are advised to monitor for potential announcements regarding commercial partnerships with U.S. defense contractors in the coming weeks.