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 common shares at a deemed price of $0.28 per share, representing about 3.53 million shares. The investment underscores leadership's confidence as the company advances key milestones, including active mining at the Lost Sheep Mine, growing ore stockpiles, construction progress at processing facilities, and a recently secured U.S. Department of Defense fluorspar supply contract.
The insider investment reflects management's belief in the company's long-term value and future growth prospects. Over the past year, Ares has transformed from a development-stage company into an emerging producer with active mining operations, significant progress on both the Lumps Plant and Acidspar Flotation Plant, major U.S. government contract awards, and strategic critical mineral positioning within the United States.
James Walker, President and CEO of Ares Strategic Mining, commented: "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 believes it is entering one of the most significant periods in its history, with multiple catalysts expected over 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 continued strengthening of the company's balance sheet and market position.
"The story of Ares today is one of execution. We have built the mine, we are mining, we are building the processing facilities, and we are securing customers. Management's decision to invest nearly one million dollars alongside shareholders reflects our belief that the most exciting chapters of Ares are still ahead of us," Walker concluded.
Ares also announced the renewal of its engagement with Pivotal CM Limited to support investor communications, digital strategy, marketing initiatives, and shareholder engagement. 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 approximately 1.76 million shares, subject to regulatory approvals. Additionally, the company agreed to settle $69,046.47 of debt by issuing 246,595 common shares at $0.28 per share.
In other corporate developments, Lorenzo Esteva stepped down from the Board of Directors following public response. The company noted that certain public commentary regarding Mr. Esteva's prior regulatory history contained misrepresentation, and his lawyer clarified that he voluntarily resigned his FINRA registrations. Ares expressed appreciation for his professionalism and regretted the inaccurate publications that led to his departure.
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 100% owned, fully permitted, and includes a mining plan approved by the Bureau of Land Management. The company's progress comes amid growing demand for domestic critical mineral supply chains.
