ARES STRATEGIC MINING INC. (via TheNewswire)
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Cremer Erzkontor North America Will Act as Sales Agent for Metspar Production from
Ares Fluorspar Mine inUtah
Under the MOU, the two firms will negotiate binding definitive agreements for the following:
Cremer Erzkontor will become ARES’s agent for the sale and worldwide distribution of Fluorspar produced at the Company’s
Lost Sheep Mine inUtah .Under a take or pay sales agreement, Cremer will be responsible for selling all the Company’s expected 50,000 tons per year production of Metspar, for the next 5 years, with the option of renewal at the end of that period.
Cremer Erzkontor will earn a commission on all sales.
After suitable due diligence, CremerErzkontor will advance
US$2,000,000 under a forward sale agreement, to enable the company to meet its working capital and investment needs.Cremer Erzkontor also has the right of first refusal for any additional fluorspar products such as acidspar and any production from other mines ARES may acquire.
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We are happy to partner up with an experienced company like ARES to move on to the next steps of this project.”
About Cremer Erzkontor
Today the trading portfolio of the
Since 2014,
For Further Information on
Head of Region –
M +1 513 620 1492
nluedemann@erzkontor.com
www.erzkontor.com
Managing Director –
M +1 513 507 4022
cedkins@erzkontor-na.com
www.erzkontor.com
About the
100% owned – 5,982 acres – 299 Claims.
Located in the Spor Mountain area,
Juab County, Utah , approximately 214 km south-west ofSalt Lake City .Fully Permitted – including mining permits.
NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.
Mining plan approved by BLM1
First approved by
1 Renewed by
ON BEHALF OF THE BOARD OF DIRECTORS OF
Chief Executive Officer and President
For further information, please contact
DISCLOSURE AND FORWARD-LOOKING STATEMENTS:
Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. Historically, situations where the issuer decides to put a mineral project into production without first establishing mineral reserves supported by a technical report and completing a feasibility study have a higher risk of economic or technical failure, though some industrial mineral ventures are relatively simple operations with low levels of investment and risk, where the operating entity has determined that a formal prefeasibility or feasibility study in conformance with NI 43-101 and 43-101 CP is not required for a production decision. Based on historical engineering work, geological reports, historical production data and current engineering work completed or in the process by Ares, the Company intends to move forward with the development of its
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by theCompany with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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