Just putting it out there - I didn't see this coming and it seems like such a stupid unforced error that I am really not sure what James is doing.
Why hire a sanctioned individual who will disqualify the uplisting?
Am I missing something?
I really think the people auditing AREC/ReElement see enough smoke to suspect fire.
I think Jensen and some of his associates have plenty of litigation risk they carry.
I think the technology should work at scale, with delays related to tweaking the software and column dynamics. Pharmaceutical companies have been doing this for years, albeit with certain differences. ReElement has pharmaceutical industry experts on their Board that have the specific niche knowledge required to overcome the known technical challenges involved in scaling LAD chromatography.
I agree with Bumblebee that this is more political than technical. But it's political and it's litigation risk. I really think that Jensen and Sauve have enough bad mojo to spook risk-averse auditors.
My hope has always been to ride this stock while the turboshitco vibes were melting and production was really ramping up. After they quietly sold off the coal assets I had to lower my profit expectations. I now also heavily discount the actual cash they have, since I need to assume that some will go to legal settlements.
AREC and ReElement can survive without the Vulcan DoW deal, but it would really suck to lose that money, and it would give ReElement a black eye. It would handicap them going forward. That's also an offtake partner disappearing.
Honestly if they can get this IPO off the ground soon and if bad publicity and bad vibes drive the share price down, I will load up because I think the tech will work to spec, at scale.
But this was always going to be a wild ride. It's just been a little shittier than I hoped.
Disputed ownership can impede NASDAQ listings. So this being cleared up is good. These claims were disputed. Ares and Hinkinite claims were overlapping.
Prior to this settlement, Ares held 100% interest in 353 claims covering approximately 5,982 acres in the Spor Mountain area. Now as of May 1, 2026, Ares announced the settlement of a legal dispute with Hinkinite Resources LLC. As a result of this settlement, Ares acquired an additional 101 unpatented mining claims. This brings estimated total to roughly 454 claims in the immediate Spor Mountain vicinity.
As part of the settlement, Hinkinite is turning over non-privileged data and records. Hinkinite is a specialized prospecting firm; this data likely includes their proprietary mapping, sampling, and geological interpretation of those 101 claims. That's cool.
Hinkinite Resources has a history in the Spor Mountain district of identifying beryllium-enriched bertrandite and tungsten.
You can find this SEDAR filing via this page - https://thecse.com/listings/ares-strategic-mining-inc/#disclosure and the CSE Filings near bottom of page.
Filing here:
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