11:56 AM EDT, 03/24/2025 (MT Newswires) -- (Updates shares.)

Almonty Industries ( ALMTF ) shares were last seen up 4.8% after the company late on Friday reported a widened 2024 loss despite higher revenue.

The company it lost $16.3 million last year, compared to a year-prior 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 82% to $2 million from $1.1 million. The rise was attributed to higher revenues from tungsten concentrate sales and increased production at the Panasqueira mine.

Almonty shares were last seen up $0.11 to $2.41 on the Toronto Stock Exchange.

Price: 2.41, Change: +0.11, Percent Change: +4.78