On behalf of the Board, I am pleased to invite you to consider becoming a Shareholder of Almonty as it
embarks on its proposed listing on the ASX.
The principal business of TSX-listed Almonty is the mining, processing and shipping of tungsten
concentrate from its Los Santos Mine in Western Spain, tin and tungsten from its Panasqueira Mine in
Portugal as well as the re-opening of its Sangdong tungsten mine in Gangwon Province, South Korea and
the Valtreixal tin and tungsten project in North Western Spain. The Sangdong Mine, which is one of the
only long-life, high-grade tungsten deposits in the world, was formerly the world’s largest tungsten mine
accounting for 30% of South Korean GDP in the 1950’s. The Company is aiming to have the Sangdong
Mine in production by mid-2022.
The Sangdong Mine will supply major tungsten producer, GTP. This is supported by the 15 year offtake
agreement that the Company has in place with GTP. The Company will look to further expand the output
of the Sangdong Mine to continue to drive growth both in the tungsten deposit and the Moly deposit that
has been identified in close proximity to the Sangdong Mine.
I am excited about the future of the Company, with its objective to further produce from its operational mines
and develop its other projects. The Board considers that Almonty’s projects will further expose and heighten
the Company’s profile as a leading mining and exploration company in the tungsten market
The purpose of the Offer is to raise up to A$25 million, by the issue of CDIs over fully paid ordinary Shares.
A minimum of 15,000,000 CDIs will be issued, at an issue price of A$1 per CDI. The CDIs will be issued at
a ratio of 1 CDI for 1 Share. The Offer is partially underwritten by Lazarus, for A$15 million.
The majority proceeds of the Offer will be utilised to finance the construction and completion of the
Sangdong Mine. Together with project financing, the Sangdong Mine will be fully funded.
The information in this Prospectus contains detailed information about the financial and operating
performance of the Company. It also includes a description of the key risks associated with an investment
in the Company including political, litigation, regulatory, permits and permitting process, disruptions in
processing, exploration, mining, insurance, environmental and COVID-19 risks. I encourage you to read
this Prospectus carefully and in its entirety before making your investment decision.
On behalf of the Board, I invite you to consider this opportunity to invest in the Company, and look forward
to welcoming you as a Shareholder.
Director, President and Chief Executive Officer