On August 21, Almonty Industries Inc. (NASDAQ Uplisting) rose 9.35% in regular trading, trading at $17.645/share, with turnover of approximately $120 million.

On the news front, the company's board approved a $300 million share repurchase program on August 18, authorizing the purchase of up to 14.4 million shares — approximately 5% of outstanding shares — over a 36-month period beginning August 24. Purchases may be conducted on Nasdaq and through alternative trading systems, with Rule 10b5-1 automatic purchase plans also permitted during blackout periods.

The buyback signal compounds a strong Q2 earnings report released on August 12, in which the company swung to EPS of CA$0.62 versus a consensus estimate of CA$0.10, representing a dramatic turnaround from a loss of CA$0.30 a year earlier. Revenue surged to CA$43 million from CA$7.2 million year-over-year.

Further underpinning sentiment, the company's flagship Sangdong Tungsten Mine in South Korea commenced processing operations in July, while an amended offtake agreement with Global Tungsten extended the contract term to 21 years and improved pricing by approximately 6.3%, expanding anticipated annual contract revenue by at least $30 million.

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