12:25 PM EST, 01/09/2025 (MT Newswires) -- Almonty Industries ( ALMTF ) Thursday said it received its final drawdown of US$906,000 of the US$75.1 million KfW IPEX-Bank project loan facility to fund construction of the Sangdong Tungsten Mine in South Korea.

"We are delighted to have reached this important milestone with the full backing of our banking partner KfW IPEX-Bank," said chief executive Lewis Black. "Their loan has been crucial to the construction of the Sangdong Project in South Korea, a cornerstone of our strategic initiatives. We are fully committed to ensuring the proper and timely repayment of this facility, further demonstrating our financial responsibility and dedication to our stakeholders."

The company's shares were last seen up $0.01 to $1.00 on the Toronto Stock Exchange.

Price: 1.00, Change: +0.01, Percent Change: +1.01