On May 6, 2026, Amsterdam-based AMG Critical Materials N.V. (EURONEXT AMSTERDAM: “AMG”) released its regulated information stating an adjusted EBITDA of $44 million for the first quarter of 2026. This marked a 2% increase from the $43 million reported in Q4 of 2025, surpassing the initial guidance of a sequential decline for Q1 of 2026. The positive performance was primarily attributed to AMG Vanadium, with the inclusion of AURA from January 1, 2026, expanding the critical materials portfolio to include recycled tungsten alongside circular molybdenum. The strong results were also supported by the favorable tungsten price trends. Despite an expected decrease in cash generation at the start of the year, AMG closed the quarter with a robust balance sheet, boasting $403 million in total liquidity by March 31, 2026. Notably, this total did not incorporate the $127 million obtained from the capital increase.