06:39 AM EDT, 03/24/2025 (MT Newswires) -- Almonty Industries ( ALMTF ) jumped 8.5% on Friday and later the same day reported a widening of its full-year 2024 net loss despite higher revenue.

The net loss increased to $16.3 million from a loss of $8.8 million. Revenue rose 28% to $28.8 million from $22.5 million, an increase the company attributed to higher tungsten trioxide revenue as production ticked higher and pricing improved.

Income from mining operations increased by 81.8% to $2 million from $1.1 million. The gain was attributed to higher revenues from tungsten concentrate sales and increased production at the Panasqueira mine.