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Update: Almonty Industries Shares Rise After Board Approves $300 Million Buyback Plan

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(Updates with the latest stock movement in the first paragraph and headline.)

Almonty Industries (ALM) shares were up over 7% in Monday trading after the company said its board has approved a new share repurchase program of up to $300 million.

The company said the program allows the purchase of up to 14.4 million shares, or approximately 5% of Almonty's outstanding shares as of Aug. 14, for up to $300 million over a 36-month period beginning Aug. 24.

Almonty said purchases may be made on Nasdaq and through alternative trading systems, as well as through other methods permitted under applicable securities laws.

The company said it may also establish Rule 10b5-1 automatic share purchase plans to allow repurchases during internal blackout periods.

Almonty said the program may be amended, suspended or discontinued at any time, subject to applicable laws.

Price: $16.20, Change: $+1.11, Percent Change: +7.36%

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