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An announcement from Ares Strategic Mining ( (TSE:ARS) ) is now available.
Ares Strategic Mining has secured a multi-year contract from the U.S. Department of Defense, awarded through the Defense Logistics Agency, with an initial value of approximately $169 million and a contract ceiling of up to $250 million over five years. The agreement designates Ares as the sole domestic supplier of acid-grade fluorspar to the U.S. government, marking a pivotal step in reducing America’s historical 100% import dependence on this critical mineral and reinforcing the strategic importance of the company’s Lost Sheep project in Utah. By underpinning the replenishment of U.S. strategic mineral stockpiles and supporting key industries including defense systems, metals production, and high-tech manufacturing, the contract significantly elevates Ares’ role in U.S. critical mineral supply chains and strengthens its positioning as a cornerstone of domestic mineral security and industrial resilience.
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 U.S.-focused mining company specializing in the development of fluorspar projects, notably its fully permitted, 100%-owned Lost Sheep Fluorspar Project in Utah. The company aims to become a major North American supplier of high-grade, acid-grade fluorspar, serving sectors such as defense, industrial manufacturing, clean energy, and advanced technology that depend on this critical mineral.
YTD Price Performance: 56.82%
Average Trading Volume: 403,809
Technical Sentiment Signal: Buy
Current Market Cap: C$139.9M
See more insights into ARS stock on TipRanks’ Stock Analysis page.