Almonty Industries Inc.

Almonty specializes in acquiring distressed and underperforming operations and assets in tungsten markets. These then benefit from the company’s in-house operational experience and unrivalled expertise in the tungsten market.Highly regarded as a hands-on, turnaround investor-operator, Almonty is an expert at overseeing projects regarded as too complex or difficult for the average, pure ‘financial investor’.To date, the results of its acquisitions have been fast and very profitable turnarounds. Almonty is actively pursuing other growth opportunities via acquisitions where it can apply its tungsten expertise to create additional value for all stakeholders.

LOS SANTOS MINE

Almonty has completed its second optimization, at its Los Santos mine in northern Spain. Almonty acquired the project in September 2011 and has been focused on utilizing its expertise in order to improve operations, reduce costs and raise the tungsten recovery rate.To date Almonty has achieved an approximate 50% recovery rate of WO3 from its tailings retreatment as a result of continuing tests and trials, a substantial improvement from the 35-40% recovery rate attained in the initial stage of tailings retreatment.This has been a very successful project, with the company enhancing the production profile of the milling operations and extending the mine life to more than nine years. In turn, Almonty has reduced cash operating costs by over 35% and has significantly increased cash flow from its operations.Almonty continues to improve and increase its knowledge in the area of tailings reprocessing which further demonstrates our commitment to invest in tungsten technologies which is paramount to remaining competitive.