Legal Battle Ignites Almonty Shares to Annual Peak

Almonty Industries witnessed extraordinary trading activity as its shares surged to their highest level in 52 weeks amid dramatically elevated volume. The Canadian tungsten producer’s stock closed at $8.65 after reaching an intraday peak of $8.85, marking a substantial increase from the previous day’s closing price of $7.75.

The catalyst behind this powerful rally emerged from legal action initiated by Almonty Industries. Last week, the company filed a lawsuit with the Ontario Superior Court of Justice targeting Pure Tungsten Inc. The litigation seeks to address what Almonty describes as “materially false and misleading statements” concerning its flagship Sangdong mine project in South Korea and the previous involvement of an individual named Tiger Kim.

Market participants responded immediately to this development, with trading... Read more...