Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced that members of management and insiders have committed approximately $990,112.65 to acquire about 3.53 million common shares at a deemed price of $0.28 per share, as the company advances toward production and government deliveries. The investment underscores management's belief in the company's long-term value and growth prospects, particularly as Ares transforms from a development-stage company into an emerging producer.
The insider investment follows a series of major milestones, including the commencement of mining, growing ore stockpiles at surface, continued construction progress across processing facilities, and the recently announced U.S. Department of Defense fluorspar supply contract. Ares now operates the Lost Sheep Mine, with surface ore stockpiles awaiting processing at its Lumps Plant and Acidspar Flotation Plant, both under construction. The company also holds strategic critical mineral positioning within the United States.
James Walker, President and CEO of Ares Strategic Mining, stated: "Management believes the Company has reached a point where its operational progress, strategic assets, government relationships, and production trajectory are not fully reflected in the current market valuation. This investment demonstrates our confidence in the future we are building and our commitment to creating long-term value alongside shareholders."
The company expects multiple catalysts in the coming months, including continued mine production and stockpiling, advancement toward processing operations, development of domestic acidspar production capacity, execution of government contract opportunities, expansion of commercial relationships, and strengthening of its balance sheet and market position.
In addition, Ares announced the renewal of its engagement with Pivotal CM Limited for investor communications, digital strategy, and marketing initiatives. Under the renewed arrangement, approximately US$356,250 of services will be satisfied through the issuance of common shares at the current market price, representing about 1.76 million shares, subject to regulatory approvals. The company also agreed to settle $69,046.47 of debt by issuing 246,595 common shares at $0.28 per share to Prospero and Craven Capital for financial services.
On the board front, Lorenzo Esteva elected to step down from the Board of Directors in response to public commentary. The company noted that certain public commentary regarding Esteva's prior regulatory history contained misrepresentation and erroneous characterizations. Esteva's lawyer clarified that he voluntarily resigned his FINRA registrations and disputed most allegations. The company expressed regret over inaccurate publications that caused his departure and wished him success.
Ares Strategic Mining is focused on developing its fluorspar projects in the U.S., aiming to become a significant supplier of high-grade fluorspar to North American markets. The Lost Sheep Fluorspar Project in Delta, Utah, is fully permitted with an approved mining plan, covering 5,982 acres and 353 claims. A NI 43-101 Technical Report identified extensive high-grade fluorspar with low impurities.
For further information, contact James Walker at info@aresmining.com. This press release contains forward-looking statements subject to risks and uncertainties, and the company disclaims any obligation to update such information except as required by law.
