PURA VIDA
1週前
To list on the NASDAQ, companies must meet specific financial, liquidity, and corporate governance standards. These requirements vary based on the specific market tier you are targeting:
The Nasdaq Capital Market (for smaller/early-stage companies), The Nasdaq Global Market, or The Nasdaq Global Select Market.
1. General Initial Listing Requirements Across all tiers, companies are expected to meet the following baseline criteria:
Corporate Governance: Must have a board of directors with a majority of independent directors, an independent audit committee, regular executive sessions, and a code of conduct.
Shareholders: At least 300 to 2,200 total shareholders depending on the tier and listing standard.
Public Float: Usually requires a minimum of 1 million unrestricted publicly held shares.
Market Makers: Must have at least 3 to 4 registered active market makers. Minimum Bid Price: A minimum share price of $4.00 prior to applying.
2. Financial Benchmarks: Companies must qualify by meeting specific financial thresholds tailored to their size, with each market tier offering different pathways:
The Nasdaq Capital Market (Small-Cap Standard)Early-stage companies can qualify by meeting one of three standards:Equity Standard: $5 million in stockholders' equity, at least 2 years of operating history, and a market value of publicly held shares of $15 million.
Net Income Standard: Net income of $750,000 in the most recent fiscal year (or in 2 of the last 3 years).
Market Value Standard: Market value of listed securities of $50 million and market value of publicly held shares of $15 million.
The Nasdaq Global Market (Mid-to-Large Cap)Offers stricter standards focusing on higher earnings and market value:Income Standard: Pre-tax earnings of at least $1 million in the latest fiscal year (or in 2 of the last 3 years) and a market value of publicly held shares of $8 million.
Equity Standard: Stockholders' equity of $30 million and a market value of publicly held shares of $18 million.Market Value Standard: Market value of listed securities of $75 million and publicly held shares of $20 million.
The Nasdaq Global Select Market (Top Tier)The most stringent tier for large, established companies. It requires meeting one of several strict multi-year financial sets of criteria:Financial Requirements: Pre-tax earnings aggregate to over $11 million in the prior 3 fiscal years (and >$0 in each of the 3 years), or an aggregate cash flow of $27.5 million in the prior 3 years.Market Capitalization: An average market capitalization of $850 million over the prior 12 months, or a market capitalization of $160 million and revenue of $110 million in the previous fiscal year.
3. Listing Fees
Listing on NASDAQ involves application, entry, and ongoing maintenance fees. Initial entry fees typically range from $50,000 to $295,000, plus additional per-share fees.4. Special ScenariosIPOs and Direct Listings: New public companies and de-SPAC transactions require higher minimum market values of publicly held shares (typically starting at $25 million).
Foreign Issuers: Foreign companies are generally subject to the same financial requirements, but can receive exemptions from certain corporate governance rules if they conflict with their home country's laws.
PURA VIDA
2週前
Company video on LUMPS Plant update:
There’s wind in our sails! May saw strong progress across both the lumps plant and flotation plant, with key electrical and conveyor milestones achieved as development continues to advance. Catch up on the latest news below.
A deep dive into recent progress
Our team of experts has been hard at work advancing the final stages of plant preparation and commissioning. Take a look at the latest progress from the site in the video update.
Electrical redesign and instrumentation work for the lumps plant is now complete, with the electrical building fully operational and ready for upcoming tie-ins.
At the same time, conveyor footings and frames have been installed, while final engineering reviews of the flotation plant are being completed ahead of electrical and instrumentation design.
We were pleased to share a strong vote of confidence from our team, with nearly $1 million invested by management, reflecting belief that ARES’ operational progress, strategic assets, and production trajectory are not yet fully reflected in the current valuation.
Recently, the criticality of acid-grade fluorspar has come into sharper focus, particularly in the field of uranium. With uranium stocks making headlines (take for example, the 11% single-day jump in Uranium Energy shares) - it's a reminder that the nuclear industry depends on supporting materials like fluorspar.
Without fluorspar, there is no fluorine, and without fluorine there is no uranium hexafluoride (UF6) - the essential compound used to enrich uranium for use in nuclear reactors.
For ARES, this is a reminder of the broad opportunity ahead. Uranium enrichment is just one end market for our fluorspar, and we were proud to be included in a winning bid under the U.S. Department of Energy's $3.4 billion program to expand domestic LEU production.
PURA VIDA
2週前
Ares Strategic Mining recently filed a US$100 million base shelf registration with the SEC and a Nasdaq application under the ticker "USAM". Management committed nearly $1 million to acquire common shares, and the company continues advancing development at the Lost Sheep Mine to meet domestic critical mineral demands.The company released several strategic and operational updates Ares Strategic Mining News, including:SEC Registration: Filed a $100 million shelf prospectus to clear the path for capital-raising as it transitions into sustained production, alongside applying to up-list to the Nasdaq under the "USAM" ticker.Management Investment: Insiders and executives committed nearly $1 million (approx. $990,112 CAD) to buy shares at $0.28 each.Corporate Updates: Renewed marketing/investor programs and made adjustments to its Board of Directors.
Yes, Ares Strategic Mining Inc. filed a U.S. Securities and Exchange Commission (SEC) Form F-10 base shelf registration that confirmed its application to list its shares on the Nasdaq Capital Market under the ticker “USAM”. A preliminary short-form prospectus outlined the company's ambition to uplist, alongside a $100 million shelf registration designed to raise capital as it transitions from development into a sustained production ramp at its Lost Sheep Fluorspar Mine in Juab County, Utah
FROM THE FORM 10:
The outstanding Common Shares are listed and posted for trading on the Canadian Securities Exchange (the “CSE”) under the symbol “ARS”, trade on the Frankfurt Stock Exchange under the symbol “N8I1” and trade on the OTCQX Venture Market (the “OTCQX”) in the United States under the symbol “ARSMF”. The closing price of the Common Shares on the CSE and OTCQX on June 4, 2026 the last trading day of the Common Shares prior to the date of this Prospectus, was $0.28 and US$0.202, respectively. We have applied to list the Common Shares on The Nasdaq Capital Market under the symbol “USAM.”
PURA VIDA
2週前
Ares mention in the Thinkorswim newsfeed this morning: (Oh, and here too a few hours later)
There is a mineral inside almost every refrigerator, smartphone screen, steel beam, and aluminum can in the country — and the United States produces virtually none of it. A small-cap miner in the Utah desert is working to become the domestic exception.
VANCOUVER, British Columbia , June 09, 2026 (GLOBE NEWSWIRE) -- Most investors have never heard of fluorspar. Almost all of them depend on it. The mineral — also called fluorite, chemically calcium fluoride — is the starting point for hydrofluoric acid, and from there it threads through an astonishing share of the modern industrial economy: the refrigerants in air conditioners, the fluoropolymers behind Teflon, aluminum smelting, steelmaking, cement, semiconductors and touchscreens, and even the electrolytes in lithium batteries. The U.S. Geological Survey has reported that of the roughly 445 tons of fluorspar consumed or sold in the United States in 2024, about 440 came from abroad. For two decades, domestic production has been effectively dormant, with buyers leaning on cheaper imports — a large share of which originate in China .
That backdrop is what makes Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) an unusual story. By the company's own account, and as reflected in industry coverage, Ares operates the only permitted fluorspar mine in the United States — its Lost Sheep mine in the Spor Mountain district of Juab County, Utah . On June 8, 2026 , the company filed a US$100 million base shelf registration with the U.S. Securities and Exchange Commission, a housekeeping-style step that nonetheless says something about ambition: it gives Ares the standing capacity to raise capital as it pushes its mine from development into a sustained production ramp. The same prospectus confirms the company has applied to list its shares on the Nasdaq Capital Market under the ticker “USAM.”
None of this means the work is done. Ares is candid in its filings that it is still transitioning from mine development into initial mining, stockpiling, and processing-plant commissioning, and that it has not yet begun sustained commercial processing or sales. This is a build-out story, not a cash-flowing producer — a distinction that matters enormously for how investors should weigh both the opportunity and the risk. But it is a build-out aimed squarely at a gap in the American supply chain that policymakers have suddenly decided they care about.
The Mineral Hiding in Plain Sight
Fluorspar rarely makes headlines, which is part of why its supply situation went unaddressed for so long. It is classified as a critical mineral in the United States — a designation reserved for materials deemed essential to the economy and national security whose supply chains are considered vulnerable. The vulnerability here is stark: the country imports essentially all of it.
The reason is not geology so much as economics and inertia. Fluorspar deposits exist in the U.S ., but for twenty years it was simply cheaper to import the mineral than to mine and process it domestically. Foreign producers, with China prominent among them, filled the gap. As global prices have risen and as Washington has grown wary of concentrated, foreign-controlled supply chains for strategic inputs, the calculus has begun to shift. A mineral that was once an afterthought is now framed as a piece of industrial security.
Ares has built its entire identity around being early to that shift. Its Lost Sheep property sits within a fluorspar anomaly that stretches roughly 16 kilometres along Spor Mountain , with mineralization that company technical work has described as high-grade with relatively low impurities. The project is fully permitted, including approval from the Bureau of Land Management , and the company holds a large land position across the district. CEO James Walker , who is also the qualified person behind the company's technical disclosure, has spent much of his public commentary simply explaining to investors why fluorspar matters at all.
From Development Toward Production
The past several months have marked the most tangible progress in the company's history. In February 2026 , Ares announced that mining operations at Lost Sheep were actively underway, with several thousand tons of fluorspar ore mined and stockpiled at surface in preparation for processing. The company framed that as a decisive transition from development into production build-up — ore coming out of the ground, organized into stockpiles, readied for processing runs.
Crucially, this is a ramp, not a finish line. The flotation plant at the company's Delta processing site has been designated a top-priority build, because stockpiled ore only becomes saleable product once it is processed into acidspar — the high-purity grade used to make hydrofluoric acid — and metspar, a lower-grade product used mainly in steelmaking. Management has publicly described a target annual output in the range of roughly 45,400 to 54,500 tonnes of final product once operations are running, with the potential to expand by opening additional mining areas across the Spor Mountain site. Those are forward-looking targets, not current production figures, and investors should treat them as such.
The June 2026 shelf registration fits into this arc. The filing itself disclosed roughly 267.8 million shares outstanding, a comprehensive loss of about $3.65 million for the fiscal year ended September 30, 2025 , and a $10 million private placement completed in February 2026 at $0.60 per unit. A development-stage miner with negative operating cash flow needs access to capital to finish building, and a base shelf is the mechanism that keeps that door open over the next two years. It is dilutive by nature — the prospectus is explicit about that risk — but it is also the conventional tool for a company at exactly this stage.
The Pentagon Enters the Picture
What elevated Ares from an interesting niche play to something investors started paying real attention to was Washington . The company has secured an Indefinite Delivery / Indefinite Quantity contract with the U.S. Department of Defense , structured over five years, under which Ares has said it could receive up to US$250 million through future orders. In February 2026 , the company announced an expedited roadmap to acidspar production specifically to meet those contract obligations, accelerating both mining expansion and flotation-plant construction. Ares was also named a Department of Energy subcontractor in late 2024 under a multi-billion-dollar domestic low-enriched-uranium initiative.
An IDIQ contract is a ceiling, not a guarantee — actual revenue depends on orders the government chooses to place, and on the company's ability to deliver qualifying product. But the strategic signal is meaningful. When the Pentagon writes a domestic fluorspar miner into a five-year supply arrangement, it is making a statement about how seriously it now treats the import-dependence problem. For a company whose entire thesis rests on being the domestic alternative, government validation is arguably worth as much as the dollars themselves.
Ares in the Context of the Reshoring Trade
Ares is not operating in a vacuum. It is one expression of a much broader 2026 theme: the scramble to rebuild domestic supply chains for critical minerals that the United States had quietly ceded to foreign — and especially Chinese — producers. Washington has leaned in hard, including a reported $12 billion “Project Vault” initiative aimed at building a strategic reserve across dozens of critical minerals, and a string of direct government equity stakes in individual miners. Looking at how the market has treated other names leveraged to that same thesis helps frame where a company like Ares sits.
https://investorshub.advfn.com/stock-market/USOTC/ares-strategic-mining-qx-ARSMF/stock-news/98703473/america-imports-nearly-all-of-it-and-one-utah-m
PURA VIDA
2週前
Management commits nearly 1 Million (insider buys)
https://finance.yahoo.com/markets/stocks/articles/ares-strategic-mining-announces-nearly-143345511.html
Management Commits Additional Capital as Company Advances Toward Production, Government Deliveries, and Next Phase of Growth
VANCOUVER, BC - June 5, 2026 (NEWMEDIAWIRE) - Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) is pleased to announce a significant vote of confidence from Company leadership, with members of management and insiders committing approximately $990,112.65 to acquire common shares of the Company at a deemed price of $0.28 per share, representing approximately 3.53 million shares.
The investment comes as Ares continues to achieve major milestones across its operations, including the commencement of mining, growing ore stockpiles at surface, continued construction progress across its processing facilities, and the recently announced U.S. Department of Defense fluorspar supply contract.
Management Demonstrates Confidence in Company's Future
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 at the Lost Sheep Mine;
- Growing surface ore stockpiles awaiting processing;
- Significant progress on both the Lumps Plant and Acidspar Flotation Plant;
- Major U.S. government contract awards;
- Strategic critical mineral positioning within the United States;
- A growing portfolio of assets and infrastructure.
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."
Building Momentum
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;
- Continued strengthening of the Company's balance sheet and market position.
Walker concluded: "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."
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