Ares Strategic Mining Cash Flow Statement

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
Net Income	-5.07	-3.64	-2.93	-4.44	-4.96	-3.65
Depreciation & Amortization	0.45	0.28	0.04	0.04	0.04	0.03
Loss (Gain) From Sale of Assets	-	-	-	-0.23	0.23	-
Loss (Gain) From Sale of Investments	-	-	-0.09	0.21	0.18	-
Stock-Based Compensation	1.22	-	-	1.3	1.97	1.47
Other Operating Activities	-1.8	0.08	1.99	0.11	0.34	0.25
Change in Accounts Receivable	-0.05	-0.05	-0.03	0.02	0.01	-0.03
Change in Accounts Payable	-1.49	2.24	1.96	0.06	0.4	0.04
Change in Other Net Operating Assets	2.71	-0.84	-0.53	1.2	-0.02	0.03
Operating Cash Flow	-4.03	-1.93	0.41	-1.73	-1.81	-1.87
Capital Expenditures	-21.77	-9.98	-16.03	-3.59	-3.19	-2.31
Sale of Property, Plant & Equipment	-	-	-	0.04	0.08	-
Investing Cash Flow	-21.77	-9.98	-16.03	-3.55	-3.12	-2.31
Short-Term Debt Issued	-	0.4	0.1	0.78	0.24	0.62
Long-Term Debt Issued	-	15.51	1.4	5.46	-	-
Total Debt Issued	13.79	15.91	1.49	6.24	0.24	0.62
Total Debt Repaid	-1.16	-	-	-	-	-
Net Debt Issued (Repaid)	12.64	15.91	1.49	6.24	0.24	0.62
Issuance of Common Stock	20.85	0.93	2.76	-	3.58	4.49
Other Financing Activities	2.04	0.61	11.9	0.52	-	-0.03
Financing Cash Flow	35.52	17.44	16.16	6.76	3.81	5.07
Foreign Exchange Rate Adjustments	0.22	0.21	0.02	0.05	0.11	0.02
Net Cash Flow	9.93	5.73	0.55	1.53	-1.01	0.92
Free Cash Flow	-25.8	-11.91	-15.63	-5.32	-5.01	-4.18
Free Cash Flow Per Share	-0.12	-0.06	-0.10	-0.04	-0.04	-0.04
Cash Interest Paid	2.33	2.33	1.23	0.33	0.05	-
Levered Free Cash Flow	-26.33	-15.46	-16.55	-4.94	-3.97	-3.18
Unlevered Free Cash Flow	-25.48	-14.43	-15.3	-4.72	-3.94	-3.18
Change in Working Capital	1.17	1.36	1.39	1.28	0.38	0.04