Two purchases in just a few days – what is behind Lewis Black’s confidence in his own company, and why could tungsten soon become the most strategically important metal in the Western world? In times of geopolitical tension, it is often the small signals that herald big things. On March 28 and again on March 31, 2025, Lewis Black, CEO of Almonty Industries Inc. (TSX:AII), announced that he had bought 50,000 shares of his own company on the stock exchange. Insider purchases like this are rarely a coincidence – they demonstrate conviction and deep confidence in the company’s future trajectory. For experienced investors, this is a strong signal: the man at the top truly believes in the story.
Tungsten: The undervalued raw material with strategic importance
Tungsten is considered one of the most critical metals of our time – indispensable for modern defense, aerospace, medical, and high-tech industries. It is extremely heat-resistant, hard, and durable – properties that are crucial for armor, drill heads, missiles, and even microtechnology.
However, while demand in the Western world is increasing, the supply situation is alarming: More than 85 per cent of global tungsten production comes from China, North Korea, Russia, and Iran – in other words, from countries whose strategic interests do not align with those of Western democracies. The US and Europe are increasingly being forced to establish alternative sources of supply to free themselves from this dangerous dependency.
Almonty as part of the solution
Almonty Industries (TSX:AII) is one of the few Western companies fully specialized in tungsten, with active projects in Portugal, Spain, and South Korea. The Korean Sangdong mine, once one of the world’s largest tungsten deposits, is currently being revitalized and is nearing production. It could soon play a central role in supplying Western industries.
Lewis Black’s recent insider purchases are more than just symbolic. They show that management expects the company to be strategically revalued, especially in light of geopolitical developments and the fact that Almonty is one of the few suppliers operating outside the sphere of influence of autocratic regimes.
Conclusion: A strong signal for investors
When the CEO himself buys – and does so twice within a few days – it is a clear sign that he sees great potential. Lewis Black also emphasized his role as an investor in his recent interview with Lyndsay Malchuk of Stockhouse.
In a world where critical raw materials are becoming geopolitical levers, tungsten could assume the role of the “new oil” – and Almonty Industries could move to the center of international industrial and security strategies.
For investors who focus on long-term trends and strategic values, now might be the right time to get in. Where is the journey headed? Sphene Capital recently confirmed a “Buy” recommendation with a target price of CAD 5.20.
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