Analysis of Alma Metals' Cash Burn
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy ALM?
Source: Yahoo Finance
- Cash Reserve Status: As of December 2025, Alma Metals has AU$2.6 million in cash with no debt, and its cash burn last year was AU$2.1 million, indicating a cash runway of approximately 15 months, which is decent but nearing the end unless cash burn decreases significantly.
- Cash Burn Trend: Although Alma Metals recorded no revenue over the past year, indicating it is still in the early development stage, it has managed to reduce its cash burn by 34%, suggesting a degree of prudence in financial management, although future growth prospects remain unclear.
- Financing Capability Assessment: With a market capitalization of AU$31 million and a cash burn representing 6.8% of its market value, Alma Metals is in a position to raise additional funds for growth through moderate share dilution or borrowing, given the low proportion of cash burn to market cap.
- Investor Confidence: While cash-burning companies are generally riskier, Alma Metals' cash burn situation is relatively optimistic, with both a reduction in cash burn and strong cash reserves relative to its market cap, suggesting that investors should maintain a cautious yet optimistic outlook when considering investment opportunities.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ALM?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ALM
Wall Street analysts forecast ALM stock price to fall
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 23.420
Low
12.00
Averages
12.00
High
12.00
Current: 23.420
Low
12.00
Averages
12.00
High
12.00
About ALM
Almonty Industries Inc. is a diversified and global producer of tungsten concentrate. The Company is engaged in mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. It also has a significant molybdenum resource on a separate property adjacent to the tungsten orebody at the Sangdong Mine. Its additional development projects include the Valtreixal Project in northwestern Spain and Los Santos Mine in western Spain. The Panasqueira Mine is located in Covilha, Castelo Branco, Portugal. The Sangdong Mine is located at Sangdong in the south-eastern Korean Peninsula, approximately 170 km east-southeast of Seoul, South Korea. The Valtreixal Mine is a potential open pit operation, and is located in the northwest part of the Zamora province, in the Castilla de Leon region of Spain. It also operates Woulfe, whose properties are located in Gangwon Province, Republic of Korea, and whose operations relate primarily to the development of the Sangdong Project.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analysis of Alma Metals' Cash Burn
- Cash Reserve Status: As of December 2025, Alma Metals has AU$2.6 million in cash with no debt, and its cash burn last year was AU$2.1 million, indicating a cash runway of approximately 15 months, which is decent but nearing the end unless cash burn decreases significantly.
- Cash Burn Trend: Although Alma Metals recorded no revenue over the past year, indicating it is still in the early development stage, it has managed to reduce its cash burn by 34%, suggesting a degree of prudence in financial management, although future growth prospects remain unclear.
- Financing Capability Assessment: With a market capitalization of AU$31 million and a cash burn representing 6.8% of its market value, Alma Metals is in a position to raise additional funds for growth through moderate share dilution or borrowing, given the low proportion of cash burn to market cap.
- Investor Confidence: While cash-burning companies are generally riskier, Alma Metals' cash burn situation is relatively optimistic, with both a reduction in cash burn and strong cash reserves relative to its market cap, suggesting that investors should maintain a cautious yet optimistic outlook when considering investment opportunities.
See More
Sigma Lithium Shares Surge 13.6% on Strong Volume
- Stock Performance: Sigma Lithium shares surged 13.6% to $20.7 in the last trading session, with trading volume significantly above average, indicating strong market confidence in the company's growth prospects.
- Financing Guarantee: The company secured a $100 million collateralized bank guarantee from a major Brazilian bank, supported by clients through a blend of corporate guarantees, letters of credit, and export receivables, to fund the construction of Greentech Industrial Plant 2.
- Capacity Expansion Plans: Sigma Lithium currently has an annual production capacity of 270,000 tons of lithium oxide concentrate and aims to nearly double this to approximately 520,000 tons through Phase 2 expansion, further solidifying its competitive position in the lithium market.
- Earnings Expectations: The company is expected to report quarterly earnings of $0.12 per share, representing a year-over-year increase of 200%, while revenues are projected at $35.4 million, down 25.7% from the previous year, but the upward revision in earnings estimates suggests potential for stock price appreciation.
See More
Almonty Industries Moves Headquarters to Montana to Align with U.S. Strategy
- Headquarters Relocation: Almonty Industries announced its move from Toronto to Dillon, Montana, enhancing alignment with U.S. strategy, which contributed to a 15.3% increase in stock price.
- Market Positioning: This relocation positions the company closer to U.S. government agencies, defense contractors, and industrial partners, reinforcing its commitment to becoming a leading U.S.-aligned tungsten producer, thereby enhancing competitive strength.
- Financing Background: Almonty successfully listed on Nasdaq in July, raising $90 million in its IPO, followed by a $129 million follow-on financing in December, providing financial backing for this strategic move.
- Project Progress: The acquisition of Montana's Gentung tungsten project is expected to restart production this year, with tungsten being a high-density metal used in defense, aerospace, and industrial tools, making Almonty one of the few suppliers outside China.
See More
Almonty Relocates Headquarters to Dillon, Montana
- Strategic Shift: Almonty Industries has relocated its headquarters from Toronto, Canada to Dillon, Montana, reflecting the company's strategic alignment with the U.S. and its commitment to supporting secure and transparent supply chains for critical materials, enhancing ties with U.S. government and defense contractors.
- Financing Context: This move follows Almonty's successful Nasdaq listing and oversubscribed $90 million IPO in July 2025, demonstrating strong market performance and laying the groundwork for its expansion in the U.S.
- Defense Collaboration Deepening: Almonty has strengthened its alignment with U.S. defense through a strategic partnership with American Defense International and participation in the Department of Defense-sponsored Critical Minerals Forum, underscoring its commitment to critical mineral independence.
- Executive Appointments: The company has appointed several former senior U.S. Army generals to its board, bringing defense and national security expertise to support its role in securing critical mineral supply chains, further solidifying its position in the non-Chinese tungsten supply chain.
See More
Almonty Industries Price Target Raised by Analysts
- Profitability Surge: Almonty Industries Inc. (NASDAQ:ALM) has emerged as one of the most profitable stocks across sectors in 2026, showcasing its strong performance and investment appeal in the tungsten market.
- Analyst Target Upgrades: B. Riley raised Almonty's price target from $17 to $23 while maintaining a Buy rating, reflecting optimism regarding the commissioning of the Sangdong Tungsten Mine and improved APT pricing.
- Capacity Expansion: The company announced the successful completion of Phase 1 commissioning at its Sangdong Mine on March 16, with an annual processing capacity of approximately 640,000 tons of ore, which is expected to significantly enhance production capabilities and market supply.
- Market Leadership: Alliance Global noted that Almonty is the primary avenue for investors to gain exposure to tungsten prices, raising its target price to $19.25, further solidifying its leadership position in the tungsten market.
See More
Almonty Industries (ALM.US) Insider Plans to Sell $84.65 Million in Common Stock via Form 144
Stock Sale Announcement: Black intends to sell 5 million shares of its common stock on March 23.
Market Value: The total market value of the shares being sold is approximately $84.65 million.
See More
Analysis of Alma Metals' Cash Burn
- Cash Reserve Status: As of December 2025, Alma Metals has AU$2.6 million in cash with no debt, and its cash burn last year was AU$2.1 million, indicating a cash runway of approximately 15 months, which is decent but nearing the end unless cash burn decreases significantly.
- Cash Burn Trend: Although Alma Metals recorded no revenue over the past year, indicating it is still in the early development stage, it has managed to reduce its cash burn by 34%, suggesting a degree of prudence in financial management, although future growth prospects remain unclear.
- Financing Capability Assessment: With a market capitalization of AU$31 million and a cash burn representing 6.8% of its market value, Alma Metals is in a position to raise additional funds for growth through moderate share dilution or borrowing, given the low proportion of cash burn to market cap.
- Investor Confidence: While cash-burning companies are generally riskier, Alma Metals' cash burn situation is relatively optimistic, with both a reduction in cash burn and strong cash reserves relative to its market cap, suggesting that investors should maintain a cautious yet optimistic outlook when considering investment opportunities.
See More
Sigma Lithium Shares Surge 13.6% on Strong Volume
- Stock Performance: Sigma Lithium shares surged 13.6% to $20.7 in the last trading session, with trading volume significantly above average, indicating strong market confidence in the company's growth prospects.
- Financing Guarantee: The company secured a $100 million collateralized bank guarantee from a major Brazilian bank, supported by clients through a blend of corporate guarantees, letters of credit, and export receivables, to fund the construction of Greentech Industrial Plant 2.
- Capacity Expansion Plans: Sigma Lithium currently has an annual production capacity of 270,000 tons of lithium oxide concentrate and aims to nearly double this to approximately 520,000 tons through Phase 2 expansion, further solidifying its competitive position in the lithium market.
- Earnings Expectations: The company is expected to report quarterly earnings of $0.12 per share, representing a year-over-year increase of 200%, while revenues are projected at $35.4 million, down 25.7% from the previous year, but the upward revision in earnings estimates suggests potential for stock price appreciation.
See More
Almonty Industries Moves Headquarters to Montana to Align with U.S. Strategy
- Headquarters Relocation: Almonty Industries announced its move from Toronto to Dillon, Montana, enhancing alignment with U.S. strategy, which contributed to a 15.3% increase in stock price.
- Market Positioning: This relocation positions the company closer to U.S. government agencies, defense contractors, and industrial partners, reinforcing its commitment to becoming a leading U.S.-aligned tungsten producer, thereby enhancing competitive strength.
- Financing Background: Almonty successfully listed on Nasdaq in July, raising $90 million in its IPO, followed by a $129 million follow-on financing in December, providing financial backing for this strategic move.
- Project Progress: The acquisition of Montana's Gentung tungsten project is expected to restart production this year, with tungsten being a high-density metal used in defense, aerospace, and industrial tools, making Almonty one of the few suppliers outside China.
See More
Almonty Relocates Headquarters to Dillon, Montana
- Strategic Shift: Almonty Industries has relocated its headquarters from Toronto, Canada to Dillon, Montana, reflecting the company's strategic alignment with the U.S. and its commitment to supporting secure and transparent supply chains for critical materials, enhancing ties with U.S. government and defense contractors.
- Financing Context: This move follows Almonty's successful Nasdaq listing and oversubscribed $90 million IPO in July 2025, demonstrating strong market performance and laying the groundwork for its expansion in the U.S.
- Defense Collaboration Deepening: Almonty has strengthened its alignment with U.S. defense through a strategic partnership with American Defense International and participation in the Department of Defense-sponsored Critical Minerals Forum, underscoring its commitment to critical mineral independence.
- Executive Appointments: The company has appointed several former senior U.S. Army generals to its board, bringing defense and national security expertise to support its role in securing critical mineral supply chains, further solidifying its position in the non-Chinese tungsten supply chain.
See More
Almonty Industries Price Target Raised by Analysts
- Profitability Surge: Almonty Industries Inc. (NASDAQ:ALM) has emerged as one of the most profitable stocks across sectors in 2026, showcasing its strong performance and investment appeal in the tungsten market.
- Analyst Target Upgrades: B. Riley raised Almonty's price target from $17 to $23 while maintaining a Buy rating, reflecting optimism regarding the commissioning of the Sangdong Tungsten Mine and improved APT pricing.
- Capacity Expansion: The company announced the successful completion of Phase 1 commissioning at its Sangdong Mine on March 16, with an annual processing capacity of approximately 640,000 tons of ore, which is expected to significantly enhance production capabilities and market supply.
- Market Leadership: Alliance Global noted that Almonty is the primary avenue for investors to gain exposure to tungsten prices, raising its target price to $19.25, further solidifying its leadership position in the tungsten market.
See More
Almonty Industries (ALM.US) Insider Plans to Sell $84.65 Million in Common Stock via Form 144
Stock Sale Announcement: Black intends to sell 5 million shares of its common stock on March 23.
Market Value: The total market value of the shares being sold is approximately $84.65 million.
See More
