$ELMT

Elmet Increases Stake in EQ Resources

The Elmet Group (ELMT) said Thursday it exercised an option to buy 20 million ordinary shares of EQ Resources, lifting its total holding in the tungsten producer to 23,652,634 shares.The purchase is tied to a 2024 five-year offtake agreement covering tungsten concentrate from EQR's Barruecopardo mine in Spain, valued at roughly A$30 million ($20.7 million) at current market prices.Elmet said the investment is aimed at strengthening supply chain resilience for critical raw materials, with a focus on defense applications.

Elmet Group Wins $4.3 Million Department of Defense Contract

Elmet Group (ELMT) said Tuesday its Elmet Technologies unit won a $4.3 million contract from the US Department of Defense.The funding will support domestic manufacturing expansions for molybdenum-based products and refractory metal components used in critical defense programs, the company said.The contract award is expected to upgrade precision machining and production automation to satisfy long-term demand for modern interceptor program components, Elmet Group said.Shares of the company were up 1% in Tuesday trading.Price: $17.82, Change: $+0.46, Percent Change: +2.65%

Cantor Fitzgerald Initiates Elmet Group at Overweight With $20 Price Target

Roth Capital Initiates Elmet Group at Buy With $21 Price Target

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Canaccord Genuity Initiates Elmet Group at Buy With $20 Price Target