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 $0.28 per share. The investment underscores leadership’s belief in the company’s trajectory as it transitions from development to production.
The capital injection comes as Ares achieves key operational milestones, including active mining at the Lost Sheep Mine, growing surface ore stockpiles, and construction progress on its Lumps Plant and Acidspar Flotation Plant. The company recently secured a fluorspar supply contract with the U.S. Department of Defense, positioning it as a critical domestic supplier.
James Walker, President and CEO, 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." The insider investment, he added, demonstrates confidence in the future and commitment to creating long-term value.
Ares is entering a significant period with multiple catalysts expected, including continued mine production, advancement toward processing operations, development of domestic acidspar production capacity, and expansion of commercial relationships. The company is also strengthening its balance sheet and market position.
In addition, Ares renewed its engagement with Pivotal CM Limited for investor communications and marketing. Approximately US$356,250 of services will be satisfied through the issuance of about 1.76 million shares at market price, subject to regulatory approvals. The company also settled $69,046.47 of debt by issuing 246,595 shares at $0.28 per share to Prospero and Craven Capital.
On the board front, Lorenzo Esteva stepped down following public scrutiny. The company noted that certain public commentary contained misrepresentations, and Esteva’s lawyer clarified that he voluntarily resigned his FINRA registrations and disputed most allegations. Ares thanked Esteva for his contributions and wished him success.
These developments position Ares as a growing force in the U.S. fluorspar market, with a fully permitted mine, approved mining plan, and strategic government ties. The company’s Lost Sheep Fluorspar Project in Utah spans 5,982 acres and hosts high-grade fluorspar with low impurities, according to a NI 43-101 technical report.
