Wednesday, November 4, 2020
11:01 AM EST – Ares Strategic Mining Inc. : Announced that the Company has signed a US$10MM equipment leasing arrangement with Sertant Capital, LLC. Ares intends to execute a 36-month leasing arrangement, during which the Company will purchase its flotation plant, heavy machinery and vehicles, crushing circuit, and bagging facility. The leasing arrangement will finance 90% of all equipment costs, with the Company being responsible for paying 10% of the leasing facility. James Walker, President and CEO of the Company said, “This is a major development for the Company towards its mining operation and production plans. Getting the leasing arrangement in place will mean we can concentrate our efforts on completing the expanded mine plan and metallurgy, and then immediately begin equipment acquisitions. The mine is already fully permitted, so the delivery of the equipment to site will be the final stage before operations can commence. We have a 500 ton/day operation planned, and a demand which outstrips our supply. The Company and its staff are excited to be supplying North American industry with its the first domestically produced fluorspar in years, and to operate as the only permitted and producing fluorspar mine in the entire U.S.” Ares Strategic Mining Inc. (V.ARS) shares were up 2.22 percent at 0.23.
Stocks in Play: Ares Strategic Mining Inc., Wed, 04 Nov 2020 11:15:01 EST