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Almonty Industries CDI ASX:AII

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Jul 2025 to today

Commentary Showing 2 of 4

DateManagerActionSummary

31 Jul 2026Firetrail InvestmentsHeldFiretrail Investments continues to hold its heavy metals holding without change, noting the stock fell after downgrading FY26 guidance on revenue timing delays and lower margins as Middle East conflict escalation prompted customers to defer orders. Both management and the manager view this as a temporary four-to-eight-week delay rather than lost demand, noting order backlogs remain at record levels and the order book has grown 15% since March, supporting an unchanged longer-term view of the business.

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30 Jun 2026Firetrail InvestmentsHeldFiretrail Investments continues to hold its materials science holding without change, noting the stock fell in the absence of company-specific news. The manager attributes the decline to tax-loss selling following a lacklustre FY26, along with investor concern that a sharp oil price decline could curb capital expenditure among the oil and gas customers the company supplies, rather than to any deterioration in the underlying business itself.

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2 more comments on AIIPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 2 managers first commented on AII.

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About Almonty Industries CDI

Materials, Metals and Mining

Almonty Industries (ASX:AII), a tungsten miner, has performed strongly as Western supply chain concerns grow. In April 2026, SG Hiscock reported Almonty continued to perform strongly as geopolitical tensions and Western supply chain concerns reinforced the strategic importance of tungsten, a critical metal used in defence, aerospace and industrial applications that is dominated by Chinese supply. Almonty operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 4 comments from 2 fund managers, including SG Hiscock. Founded in 2009 and headquartered in Toronto, Almonty mines and processes tungsten concentrates, operating the Panasqueira mine in Portugal and developing the Sangdong tungsten project in South Korea, which is expected to become one of the largest tungsten mines outside China. Some commentary linked to this ticker in the dataset refers to a different company and has not been used in this summary.

Market cap: $4.8b
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Almonty Industries CDI (ASX:AII)?

Fund managers including SG Hiscock & Company and Firetrail Investments have invested in Almonty Industries CDI (ASX:AII).

What opportunities or catalysts do fund managers highlight for Almonty Industries CDI?

SG Hiscock highlights tungsten's strategic importance amid geopolitical tensions and Western efforts to diversify supply away from China, supporting Almonty's growth as Sangdong develops.

What are the key risks to the Almonty Industries CDI investment thesis, according to fund managers?

The available commentary relevant to Almonty does not detail specific risks, though bringing the Sangdong project into production carries development and funding risk.

What does Almonty Industries CDI (ASX:AII) do?

Almonty Industries, Inc. is a Toronto-based mining company founded in 2009 that specializes in the extraction, processing, and shipment of tungsten concentrates. The firm manages a diverse portfolio of international mining projects, including Los Santos, Valtreixal, Almonty Korea Tungsten, Almonty Korea Moly, and Panasquiera. Almonty Industries focuses on maximizing the production and supply of tungsten materials to global markets.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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