Ares Strategic Mining Balance Sheet

Financials in millions CAD. Fiscal year is October - September.

Millions CAD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Cash & Equivalents	12.08	6.58	0.09	0.47	0.04	1.05
Short-Term Investments	-	-	-	0.17	0.39	-
Cash & Short-Term Investments	12.08	6.58	0.09	0.64	0.43	1.05
Cash Growth	8217.23%	6941.29%	-85.35%	48.32%	-59.08%	378.30%
Other Receivables	2.15	1.48	0.51	0.02	0.49	0.04
Receivables	2.15	1.48	0.51	0.02	0.49	0.04
Prepaid Expenses	0.58	1.4	0.65	0.29	0.25	0.23
Restricted Cash	1.3	1.37	2.12	1.2	0.09	0.09
Total Current Assets	16.11	10.83	3.37	2.15	1.26	1.42
Property, Plant & Equipment	57.42	42.6	24.3	15.23	14	8.34
Other Long-Term Assets	0.37	0.44	8.78	0.1	0.87	3.65
Total Assets	73.9	53.87	36.46	17.48	16.13	13.41
Accounts Payable	2.55	0.9	3.13	0.41	0.56	0.4
Accrued Expenses	-	1.12	0.67	0.25	0.2	0.05
Short-Term Debt	0.72	1.08	1.83	1.1	0.3	2.2
Current Portion of Long-Term Debt	8.52	8.54	7.2	0.82	-	-
Total Current Liabilities	11.8	11.66	12.82	2.58	1.06	2.65
Long-Term Debt	25.73	26.17	11.06	4.68	-	-
Total Liabilities	37.53	37.83	23.88	7.26	1.06	2.65
Common Stock	70.35	51.54	44.48	39.59	39.33	31.43
Additional Paid-In Capital	8.17	3.9	3.84	3.46	4.05	4.35
Retained Earnings	-41.21	-38.32	-34.67	-31.75	-27.16	-23.76
Comprehensive Income & Other	0.28	0.15	0.16	0.14	0.08	-0.04
Total Common Equity	37.58	17.26	13.8	11.44	16.3	11.98
Minority Interest	-1.22	-1.22	-1.22	-1.22	-1.23	-1.22
Shareholders' Equity	36.36	16.05	12.58	10.22	15.08	10.76
Total Liabilities & Equity	73.9	53.87	36.46	17.48	16.13	13.41
Total Debt	34.98	35.8	20.09	6.6	0.3	2.2
Net Cash (Debt)	-22.9	-29.22	-19.99	-5.96	0.13	-1.15
Net Cash Per Share	-0.10	-0.15	-0.13	-0.04	0.00	-0.01
Filing Date Shares Outstanding	253.54	211.55	179.66	139	137.84	122.79
Total Common Shares Outstanding	253.54	211.55	173.42	139	137.77	106.79
Working Capital	4.3	-0.83	-9.45	-0.43	0.2	-1.23
Book Value Per Share	0.15	0.08	0.08	0.08	0.12	0.11
Tangible Book Value	37.58	17.26	13.8	11.44	16.3	11.98
Tangible Book Value Per Share	0.15	0.08	0.08	0.08	0.12	0.11
Land	-	2.88	2.79	2.81	0.08	0.08
Machinery	-	0.64	0.23	0.23	0.23	0.2
Construction In Progress	38.01	25.72	9.76	4.35	4.29	-