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Ares Strategic Mining ( (TSE:ARS) ) has shared an announcement.
Ares Strategic Mining is accelerating construction of its acidspar flotation plant in Utah after securing an estimated US$168.9 million award under a U.S. Department of Defense IDIQ contract and launching a C$10 million non-brokered private placement. The expedited build is intended to enable initial deliveries of acid-grade fluorspar later this year under the Pentagon contract, reinforcing Ares’s emerging role as the sole domestic supplier of this critical mineral and a key player in rebuilding the American acidspar supply chain. Proceeds from the financing, structured as units with attached warrants, will support completion of the flotation plant, further development of the Lost Sheep fluorspar project, repayment of debt, and general working capital, while the company simultaneously advances plans to uplist to a senior stock exchange.
Spark’s Take on TSE:ARS Stock
According to Spark, TipRanks’ AI Analyst, TSE:ARS is a Underperform.
Ares Strategic Mining’s overall stock score reflects substantial financial risks due to no revenue and high debt. Despite positive corporate developments and some technical momentum, the current financial instability poses significant challenges. Valuation metrics further underscore these risks, suggesting a cautious approach.
To see Spark’s full report on TSE:ARS stock, click here.
More about Ares Strategic Mining
Ares Strategic Mining Inc. is a Vancouver-based mining company focused on developing domestic U.S. production of fluorspar, particularly acid-grade fluorspar (acidspar), a mineral designated as critical by the U.S. government. Through its Lost Sheep Mine and a vertically integrated processing strategy in Utah, the company aims to supply high-purity fluorspar to defense, chemical, semiconductor, and electric vehicle battery industries, reducing long-standing U.S. dependence on imports.
Average Trading Volume: 469,988
Technical Sentiment Signal: Buy
Current Market Cap: C$129.8M
Learn more about ARS stock on TipRanks’ Stock Analysis page.