Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 175

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 175
---
   |             (7,802 | )    |     |   |             (7,368 | ) |
| Cash flows provided by (used in) financing activities |     |   |             21,423 |      |     |   |              3,144 |   |

| (1) | Reflects                                                                                   
 a non-cash loss of $25.8 million, which was recorded due to the mark-to-market revaluation 
 of warrant liabilities. This revaluation is directly tied to a significant increase in the 
 Company’s share price from $0.91 to $2.25 during the first quarter of 2025, and does       
 not reflect underlying operational performance or cash usage.                              |
| (2) | As                                                                                         
 adjusted figures are adjusted to reflect the Share Consolidation.                          |

| 124 |

The following table
sets forth a summary of the Company’s consolidated financial position as of the dates presented:

|                                                      |     | 31-Mar-25 $’000 |     | 31-Dec-24 $’000 |
| Cash                                                 |     |          16,985 |     |           7,830 |
| Total assets                                         |     |         279,041 |     |         256,349 |
| Long-term debt                                       |     |         171,612 |     |         158,022 |
| Shareholders’ equity                                 |     |          18,102 |     |          39,073 |
| Other                                                |     |                 |     |                 |
| Pro forma outstanding shares (’000) (1)              |     |         188,521 |     |         176,947 |
| Pro forma weighted average outstanding shares (’000) |     |                 |     |                 |
| Basic (1)                                            |     |         184,210 |     |         169,357 |
| Fully diluted (1)                                    |     |         184,210 |     |         169,357 |

| (1) | As                                                                
 adjusted figures are adjusted to reflect the Share Consolidation. |

Operating
Results – Fiscal Year Ended December 31, 2024

The following financial
information is for the years ended December 31, 2024 and 2023:

|                                                             |     |   | Year ended |   |     |   | Year ended |   |
|:------------------------------------------------------------|:----|:--|-----------:|:--|:----|:--