Recent Updates — ELMT
The Elmet Group Co. completed a private placement investment of CAD 35 million (3,500,000 units at CAD 10.00 per unit) in Blue Moon Metals Inc., acquiring equity and warrants exercisable for BM Shares at CAD 10.80 starting February 2027. The transaction includes an Investor Rights Agreement granting Elmet participation rights, a top-up right against dilution exceeding 1%, and the designation of one nominee to Blue Moon's board of directors. Concurrently, stockholders approved the adoption of the company’s 2026 Employee Stock Purchase Plan at a special meeting held on October 19, 2026. The Elmet Group Co. operates in the mining sector.
The Elmet Group Co. announced it was awarded a contract valued at approximately $36 million by the Defense Logistics Agency (DLA) to supply high-performance molybdenum and tungsten alloys and precision wire for the U.S. National Defense Stockpile. The contract, dated September 30, 2026, covers materials such as titanium-zirconium-molybdenum (TZM) alloy billets and specialized wire used in jet engine components. This award is separate from a previously announced $2 billion DLA IDIQ contract for tungsten concentrates and sodium tungstate. The Elmet Group Co. operates in the critical materials, aerospace, and defense manufacturing industry.
The Elmet Group Co. entered into a Share Purchase Agreement with Masan Horizon Company Limited to acquire a 4.99% interest in Masan High-Tech Materials Corporation for approximately $124,750,000. The transaction involves the purchase of 55,138,174 ordinary shares and is expected to close on October 1, 2026, with settlement on October 5, 2026. Elmet will receive one board seat at Masan and has secured long-term supply agreements for tungsten concentrate and conversion services. The deal includes a $24,950,000 break fee if the transaction fails to close due to material breach. This strategic investment strengthens Elmet's position in the critical materials sector by securing upstream tungsten supply.
The Elmet Group Co. entered into a long-term tungsten concentrate offtake agreement with Tungsten West PLC and Drakelands Restoration Limited for production from the Hemerdon Mine in England, effective starting in calendar year 2027. The Company expects to purchase an annual target quantity of more than 1,000 metric tonnes of tungsten concentrate (WO₃ equivalent), representing over $230 million annually at current APT prices. Under the agreement, Elmet holds exclusive rights for 60 days to supply Drakelands material to the U.S. Defense Logistics Agency and prioritizes DLA supply until its ammonium paratungstate plant is operational. The contract remains in effect through December 31, 2034. This strategic partnership supports allied critical materials supply chains for aerospace, defense, energy, medical, industrial, and semiconductor markets. The Elmet Group Co. operates as a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems.