Anyone still here? Here's an email update from the company:
To our Ares Shareholders,
This week, the Company successfully secured a significant financing from the US government and was recognized by the Utah Economic Council in their 2023 report to the Governor as a significant development for the state. In preparation for the construction work, Ares has been aligning its plans with the federally-backed financing and undergoing thorough evaluation and stress testing to meet the strict qualifications for the development funding.
The Company sought government funding to prevent dilution of its share structure and protect the value of shareholders' investments while also securing financing sources that are not affected by expected economic downturns that are currently impacting the industry and other junior companies. The company has been coordinating its development plans with the expected government funding timelines and successfully maintained progress despite the prolonged government process and schedules. Following the finance closing, the Company will move to accelerate its construction work and achieve its industry goals.
The Federally backed financing represents the first of two government backed financings won by the Company, with the second larger State backed financing anticipated later this year. The Company has received significant support from the State and Federal government, and established many valuable relationships which will greatly benefit its operations in the coming years.
Someone on another msg board mentioned this (take it with a grain of salt):
Further official financing and construction News Releases are planned for mid-February, after which the company's activity is expected to significantly increase.
Weight of My Heart, Not the Size ~Staley
