Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 22

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 22
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 have been
identified, and, as such, the Company continues to evaluate and, as necessary, implement additional remediation measures. The Company’s
current controls and procedures and any new controls and procedures that we develop may also become inadequate because of various factors,
including changes in our business and increased complexity resulting from any international expansion. Any failure to develop or maintain
effective controls and procedures or any difficulties encountered in their implementation or improvement could result in the Company’s
inability to produce accurate financial statements on a timely basis, could increase the Company’s operating costs and harm our
business, could result in the Company’s failure to meet our reporting and / or listing obligations, could result in a restatement
of the Company’s financial statements for prior periods, could undermine investor confidence in us and could adversely affect
the trading price of the Company’s Common Shares. In addition, investors’ perceptions that the Company’s
internal controls and procedures are inadequate or that we are unable to produce accurate financial statements on a timely basis may
harm the Company’s stock price.

The Company is actively progressing a structured internal control enhancement initiative throughout the third quarter of 2025, aimed at strengthening the Company’s compliance with disclosure controls and procedures and internal control over financial reporting requirements. This initiative builds on previously identified areas for improvement and reflects management’s ongoing commitment to internal governance and financial reporting integrity.

The Company is currently working through a series of targeted remediation measures, including:

| 1. | realignment                                                                                
 and formalization of control ownership across finance and reporting functions;             |
| 2. | enhancement                                                                                
 of review and approval protocols for significant and non-routine transactions;             |
| 3. | improved                                                                                   
 documentation and validation of control activities related to complex estimates and manual 
 adjustments; and                                                                           |
| 4. | strengthened                                                                               
 segregation of duties through increased staffing and realigned responsibilities.           |

These core remediation activities are expected to be substantially completed during the third quarter of 2025. A detailed update on the final remediation plan—including the actions taken, remaining items (if any), and supporting implementation timelines—will be provided in the Company’s Management’s Discussion and Analysis of Financial Condition and Results of Operations for the year ending December 31, 2025.

The Company remains committed to continuous improvement in its control environment and to ensuring a sustainable and transparent financial reporting framework going forward.

Price of Metals

The Company’s
earnings are directly related to commodity prices, as revenues are derived from the sale of tung