Reading the annual report this morning the following reminded me...

Reading the annual report this morning the following reminded me of your comment.

--------------------------From the 2024 annual

Developments During Fiscal Year Ended December 31, 2024
In January 2024, 10,249,605 Common Shares were issued in connection with the conversion of an
outstanding convertible debenture plus related accrued interest in the aggregate amount of $9,265,000.
On January 9, 2024, Almonty granted 1,000,000 stock options to a director of the Company, which
options are exercisable until January 9, 2029, at a price of $0.56 per Common Share.
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In February 2024, Almonty settled an outstanding debt in the amount of US$1,042,750 with Plansee
through the issuance of 2,583,316 shares at a deemed price of $0.54 per share.
In March 2024, Almonty completed a non-brokered private placement through the sale of 4,035,863
units at a price of $0.55 per unit raising gross proceeds of $2,219,725. Each such unit is comprised of
one common share and one share purchase warrant with each share purchase warrant being exercisable
into one additional common share at a price of $0.74 per share for a period of 24 months from closing.
Also in March 2024, Almonty completed a private placement raising gross proceeds of A$945,500
through the issuance of 1,525,000 Placement Chess Depository Interests Units at a price of A$0.62
per unit. Each such unit will be comprised of one CDI, with an underlying common share, and one
unlisted option exercisable at A$0.84, for a period of 24 months from the date of closing. RM
Corporate Finance Pty Ltd acted as lead manager to the issuance of the CDI units and was paid a total
fee of 6% of the gross proceeds raised from the CDI units. Current Almonty Director, Mr. Andrew
Frazer, is also the managing director of RM Corporate Finance Pty Ltd, the Lead Manager for the
Placement.
In March 2024, Almonty negotiated the refinancing of the Unicredit Bank US$15,650,000 term loan
with the KfW IPEX-Bank (“KfW”), thus extending the maturity date of this loan from March 31, 2024
to March 31, 2027.
On April 30, 2024, Almonty granted 1,000,000 stock options to an officer of the Company, which
options are exercisable until April 30, 2029, at a price of $0.63 per Common Share.
In May 2024, Almonty announced that it planned to extend, in the aggregate, the term of 700,000
outstanding share purchase warrants (the “Insider Warrants”) that were due to expire on February
19, 2024, by one year. On February 13, 2024, the Board of Directors of the Company approved to
extend the Insider Warrants held by Lewis Black and Dr. Thomas Gutschlag to February 19, 2025,
subject to TSX and shareholder approval. Lewis Black and Dr. Thomas Gutschlag are insiders of the
Company. The extension of such warrants was approved by Shareholders at Almonty’s annual general
and special meeting of shareholders held on June 28, 2024.
Additionally, the Company extended the term of 714,285 outstanding share purchase warrants held by
one individual due to expire on May 11, 2024, to May 12, 2025. The extension of such warrants was
subject to TSX approval, the approval of the Australian Securities Exchange and shareholder approval.
Such shareholder approval was obtained at Almonty’s annual general and special meeting of
Shareholders held on June 28, 2024.
On May 10, 2024, Almonty announced that it had received firm commitments to raise further gross
proceeds of A$1,860,000 via the issuance of 3,000,000 Placement CDI units at A$0.62 per CDI unit.
Each participant was to be issued one free unlisted option for every one CDI issued, exercisable at
A$0.84 with an expiry date of 24 months from the date of closing. RM Corporate Finance Pty Ltd
acted as Lead Manager to the placement and was paid a total fee of 6% of the gross proceeds. This
tranche of private placement closed on May 21, 2024
On May 17, 2024, Almonty granted 275,000 stock options to consultants of the Company, which
options are exercisable until May 14, 2029, with various exercise prices between $0.63 to $0.72 per
Common Share.
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On May 21, 2024, Almonty announced the closing of the aforementioned tranche of placement and a
further scheduled closing of on an additional 1,090,909 units at Cdn$0.55 per unit on May 23, 2024
with each such unit comprising one common share and one share purchase warrant with each share
purchase warrant exercisable into one additional common share at a price of $0.74 per share for a
period of 24 months from closing..
In addition, Almonty announced firm commitments to raise further gross proceeds of A$1,194,500.06
pursuant to the issuance of 1,926,613 CDI units at A$0.62 per CDI unit, forming the final tranche of
the placement initiated in March 2024. Each such placement participant was issued one free unlisted
option for every one CDI issued, exercisable at A$0.84 with an expiry date of 24 months from the date
of closing. RM Corporate Finance Pty Ltd acted as Lead Manager to the placement and was paid a
total fee of 6% of the gross proceeds from the sale of CDI units.
On July 5, 2024, Almonty granted 3,030,000 stock options to various officers, directors, employees
and consultants, which are exercisable until July 4, 2029, at a price of $0.66 per Common Share.
Almonty also issued in the aggregate 2,100,000 Restricted Share Units to certain officers and/or
directors.
On August 16, 2024, Almonty granted 200,000 stock options to an employee of the Company, which
options are exercisable until August 15, 2029, at a price of $0.685 per Common Share.
On November 18, 2024, Almonty granted 200,000 stock options to an employee or consultant of the
Company, which options are exercisable until November 17, 2029, at a price of $0.81 per Common
Share.
On December 23, 2024, the Company issued 230,469 shares at a deemed price of $0.7683 to settle its
remaining debt obligation to one of its creditors.
In December 2024, Almonty completed a private placement raising gross proceeds of the equivalent
of A$5.95 million via the issuance of 2.0 million Canadian units and 4.56 million Placement CDI units
at C$0.82 per Canadian unit and A$0.90 per CDI unit, respectively. Each Canadian unit and CDI unit
participant will be issued with one warrant for every common share issued and one free unlisted option
for every one CDI issued, exercisable at C$1.14 and A$1.25, respectively, with an expiry date of three
years from the date of closing. RM Corporate Finance Pty Ltd acted as Lead Manager to the placement
and was paid a 6% fee on a portion of the Placement..
Developments Subsequent to Fiscal Year Ended December 31, 2024
On January 9, 2025, Almonty announced that it received its final drawdown of US$906,000 of the US$75.1
million KfW IPEX-Bank (“KfW”) project loan facility related to the construction of the Company’s
Sangdong Tungsten Mine in South Korea. This milestone marks the culmination of a strong and
collaborative partnership with KfW, which has consistently demonstrated unwavering support for
Almonty since the financing was granted.
During the months of January and February 2025, Almonty completed a private placement raising
gross proceeds of the equivalent of CAD$10.847 million via the issuance of 2.527 million Canadian
units and 10.833 million CDI units at C$0.82 per Canadian unit and A$0.90 per CDI Unit, respectively.
Each Canadian unit and CDI unit participant will be issued with one warrant for every common share
issued and one free unlisted option for every one CDI issued, exercisable at C$1.14 and A$1.25,
respectively, with an expiry date of three years from the date of closing. RM Corporate Finance Pty
Ltd acted as Lead Manager to the placement and was paid a 6% fee on the CDI portion of the
placement.
On February 14, 2025, Almonty announced that, subject to shareholder and TSX approval, it plans to
extend, in the aggregate, the term of 700,000 outstanding share purchase warrants (the “Insider
Warrants”) that were due to expire on February 19, 2025, by one year.