Ares Strategic Mining Inc (TSE:ARS) has released an update.
Ares Strategic Mining Inc. has entered into a memorandum of understanding with Cremer Erzkontor North America, designating Cremer as the sales agent for Ares’s Metspar production from their Utah-based Lost Sheep Mine. This partnership includes a commitment from Cremer to sell the mine’s entire projected annual production of 50,000 tons of Metspar over the next five years, with renewal options post-term. Additionally, Cremer will provide Ares with a $2 million advance to support its capital and investment requirements.
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