Almonty Appoints New Chief Financial Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy ALM?
Source: Newsfilter
- Executive Appointment: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the company's expansion of the Sangdong Mine in South Korea, which is expected to enhance its strategic role in the Western tungsten supply chain.
- Predecessor Departure: Former CFO Brian Fox has departed immediately, with Almonty expressing gratitude for his service, ensuring stability during the transition period as Guillaume de Lamaziere steps in as Interim CFO until the new appointee starts.
- Financial Leadership Experience: Jorge Beristain brings extensive financial management experience, having served as Vice President of Finance at Ryerson Holding Corp, where he played a key role in doubling the company's market capitalization, showcasing his exceptional capabilities in the basic materials and mining sectors.
- Strategic Growth Potential: Almonty's Sangdong Mine is considered a critical component of the global non-China tungsten supply chain, and with rising geopolitical tensions, the demand for tungsten is expected to surge, positioning the company strategically for robust future growth.
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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: 20.030
Low
12.00
Averages
12.00
High
12.00
Current: 20.030
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.
Almonty Industries Appoints New CFO Jorge Beristain
- Executive Change: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, succeeding Brian Fox who departed immediately, indicating a strategic shift in leadership to tackle future challenges.
- Interim Management: Until Beristain's start date, Chief Development Officer Guillaume de Lamaziere will serve as interim CFO, ensuring continuity and stability in financial management, thereby mitigating potential risks associated with executive transitions.
- Rich Financial Background: Beristain most recently served as Vice President of Finance at Ryerson Holding, where he was a key advisor to the CEO, CFO, and Board, and his extensive experience in financial management is expected to bring new perspectives and strategic direction to Almonty Industries.
- Industry Influence: Having previously served as CFO of Central Steel & Wire Co. and currently as an Independent Director at Elevra Lithium, Beristain's broad industry connections and experience will enhance Almonty's competitiveness in the tungsten market.
See More
Almonty Appoints New Chief Financial Officer
- Executive Appointment: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the company's expansion of the Sangdong Mine in South Korea, which is expected to enhance its strategic role in the Western tungsten supply chain.
- Predecessor Departure: Former CFO Brian Fox has departed immediately, with Almonty expressing gratitude for his service, ensuring stability during the transition period as Guillaume de Lamaziere steps in as Interim CFO until the new appointee starts.
- Financial Leadership Experience: Jorge Beristain brings extensive financial management experience, having served as Vice President of Finance at Ryerson Holding Corp, where he played a key role in doubling the company's market capitalization, showcasing his exceptional capabilities in the basic materials and mining sectors.
- Strategic Growth Potential: Almonty's Sangdong Mine is considered a critical component of the global non-China tungsten supply chain, and with rising geopolitical tensions, the demand for tungsten is expected to surge, positioning the company strategically for robust future growth.
See More
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- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting the production and profitability of related companies.
- Gold Project Advancement: GoldHaven Resources is conducting a 1,741-kilometre high-resolution magnetic survey over its Magno Project, expected to launch in June 2026, aimed at enhancing exploration efficiency for silver and tungsten, thereby strengthening its market competitiveness.
- Diversified Investment Strategy: GoldHaven is also advancing its Copeçal Gold Project in Brazil, where the first diamond drilling program confirmed gold and copper anomalism, with Phase 2 drilling planned for mid-Q2 2026, showcasing the company's strategic vision in multi-project development.
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- National Security Investigation: The US has confirmed that its dependence on imported critical minerals poses a direct threat to its defense and industrial base, indicating that no single Western country can resolve this issue alone, which may lead to increased market demand for related minerals.
- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting production costs and profitability for related companies.
- Silver Market Shortage: The Silver Institute's 2026 World Silver Survey reveals a sixth consecutive annual supply deficit, with cumulative shortfalls exceeding 800 million ounces since 2021, highlighting strong demand growth from electrification and defense, compelling companies to expedite new mine developments.
- GoldHaven Resources Progress: GoldHaven Resources has engaged Dias Airborne to conduct a high-resolution magnetic survey over its Magno Project, set to launch in June 2026, aiming to enhance mineral exploration efficiency through modern geophysical technology and drive future drilling activities.
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- 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.
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Almonty Industries Appoints New CFO Jorge Beristain
- Executive Change: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, succeeding Brian Fox who departed immediately, indicating a strategic shift in leadership to tackle future challenges.
- Interim Management: Until Beristain's start date, Chief Development Officer Guillaume de Lamaziere will serve as interim CFO, ensuring continuity and stability in financial management, thereby mitigating potential risks associated with executive transitions.
- Rich Financial Background: Beristain most recently served as Vice President of Finance at Ryerson Holding, where he was a key advisor to the CEO, CFO, and Board, and his extensive experience in financial management is expected to bring new perspectives and strategic direction to Almonty Industries.
- Industry Influence: Having previously served as CFO of Central Steel & Wire Co. and currently as an Independent Director at Elevra Lithium, Beristain's broad industry connections and experience will enhance Almonty's competitiveness in the tungsten market.
See More
Almonty Appoints New Chief Financial Officer
- Executive Appointment: Almonty Industries announced the appointment of Jorge Beristain as Chief Financial Officer effective June 1, 2026, aimed at supporting the company's expansion of the Sangdong Mine in South Korea, which is expected to enhance its strategic role in the Western tungsten supply chain.
- Predecessor Departure: Former CFO Brian Fox has departed immediately, with Almonty expressing gratitude for his service, ensuring stability during the transition period as Guillaume de Lamaziere steps in as Interim CFO until the new appointee starts.
- Financial Leadership Experience: Jorge Beristain brings extensive financial management experience, having served as Vice President of Finance at Ryerson Holding Corp, where he played a key role in doubling the company's market capitalization, showcasing his exceptional capabilities in the basic materials and mining sectors.
- Strategic Growth Potential: Almonty's Sangdong Mine is considered a critical component of the global non-China tungsten supply chain, and with rising geopolitical tensions, the demand for tungsten is expected to surge, positioning the company strategically for robust future growth.
See More
Evotec-Almirall Team Advances Small Molecule Program to Preclinical Development
- Rapid Development Progress: The collaboration between Evotec and Almirall has successfully nominated a small molecule preclinical development candidate within just two years, significantly outperforming standard industry timelines and showcasing Evotec's efficiency in drug discovery.
- Integrated Technology Advantage: The project leverages Evotec's AI/ML-driven R&D platforms, encompassing medicinal chemistry, DMPK, and in vitro biology, ensuring a seamless data-driven workflow that accelerates the candidate identification process.
- Market Demand Alignment: This initiative focuses on developing novel therapies for immune-mediated inflammatory skin diseases, addressing the urgent need for innovative treatment options in the market, which holds significant commercial potential.
- Strategic Partnership Value: The collaboration includes potential success-based milestone payments of up to €230 million, reflecting the deep expertise and shared goals of Evotec and Almirall in medical dermatology, indicating promising future success possibilities.
See More
US National Security Investigation on Mineral Dependency
- National Security Investigation: The US has confirmed that its dependence on imported critical minerals poses a direct threat to its defense and industrial base, indicating that no single Western country can resolve this issue alone, which may lead to increased market demand for related minerals.
- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting the production and profitability of related companies.
- Gold Project Advancement: GoldHaven Resources is conducting a 1,741-kilometre high-resolution magnetic survey over its Magno Project, expected to launch in June 2026, aimed at enhancing exploration efficiency for silver and tungsten, thereby strengthening its market competitiveness.
- Diversified Investment Strategy: GoldHaven is also advancing its Copeçal Gold Project in Brazil, where the first diamond drilling program confirmed gold and copper anomalism, with Phase 2 drilling planned for mid-Q2 2026, showcasing the company's strategic vision in multi-project development.
See More
US Confirms Mineral Dependence Threatens National Security
- National Security Investigation: The US has confirmed that its dependence on imported critical minerals poses a direct threat to its defense and industrial base, indicating that no single Western country can resolve this issue alone, which may lead to increased market demand for related minerals.
- Tungsten Supply Crisis: Due to Chinese export controls, tungsten processing prices have surged from around $300 to $1,775 per metric tonne within a year, depleting Western inventories to critically low levels, thereby impacting production costs and profitability for related companies.
- Silver Market Shortage: The Silver Institute's 2026 World Silver Survey reveals a sixth consecutive annual supply deficit, with cumulative shortfalls exceeding 800 million ounces since 2021, highlighting strong demand growth from electrification and defense, compelling companies to expedite new mine developments.
- GoldHaven Resources Progress: GoldHaven Resources has engaged Dias Airborne to conduct a high-resolution magnetic survey over its Magno Project, set to launch in June 2026, aiming to enhance mineral exploration efficiency through modern geophysical technology and drive future drilling activities.
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
