Red Mountain Mining Limited (RMXFF) Systematic Exploration Underway at Pioneer Tungsten Project
Almonty’s Montana district exploration validates the area while near-term catalysts remain the Sangdong ramp-up and Gentung development.
Red Mountain Mining (RMXFF) announced systematic rock chip sampling at its 100% owned Pioneer Tungsten Project in Montana. Initial reconnaissance returned WO3 values up to 0.32% at Greenstone and 0.29% at Mammoth, confirming garnet skarn mineralisation. These results are geologically comparable to Almonty Industries Inc.'s adjacent Gentung Tungsten Deposit, which holds 6.83Mt @ 0.315% WO3.
The company is also preparing maiden drill testing at its Armidale Antimony-Gold Project in NSW, Australia. This is a competitor/neighbor exploration update; it does not contain Almonty operational, financial, or guidance data.
A neighboring explorer’s recent release serves as geological validation of the Montana tungsten district, confirming the skarn model and grade continuity adjacent to Almonty Industries Inc.’s Gentung project. This data does not alter Almonty’s resource base, production timeline, cost structure, or capital allocation.
The market has already priced in the strategic premium for non-China tungsten supply, and this incremental geological data is unlikely to move the stock materially. The stock has already corrected approximately 40% from its April peak on profit-taking and dilution concerns from the June convertible note offering, and this news does not provide a new catalyst to reverse that trend.
Almonty Industries Inc. (AII) is a Western-aligned tungsten producer focused on securing non-China supply for defense and advanced technology sectors. The company’s flagship asset is the Sangdong Tungsten Mine in South Korea, which is transitioning from commissioning to commercial production.
Growth initiatives include the Gentung Browns Lake Tungsten Project in Montana, USA, which was acquired for approximately $9.75 million and is targeting production in the second half of 2026. Other assets include the Panasqueira Mine in Portugal, which is in ongoing production; the Sangdong Molybdenum Project in South Korea, where active drilling is underway; and the Los Santos Mine in Spain, which is currently under care and maintenance. To better align with U.S. defense and industrial stakeholders, the company’s corporate headquarters has been relocated to Dillon, Montana.