The Acidspar Plant Has No Number On It
Utah's fluorspar site gets its ribbon cut at eleven tomorrow morning, with a congressman, the Defense Logistics Agency and a gallium startup on the guest list. The plant being opened makes the steel-mill grade. The acid-grade plant your HF supplier would care about sits behind C$49.9 million of construction in progress, no grid power until 2028, and a cost to complete the company says in writing it cannot yet estimate.
The speaker list for a ribbon cutting tomorrow morning in Delta, Utah runs to a US congressman, a state senator, the director of Utah's energy office, and the president of a gallium startup.
The Defense Logistics Agency is sending people as well.
All of it is for a plant that makes flux for steel mills.
Ares Strategic Mining cuts the ribbon on its Lumps Plant at 11:00 a.m. on Friday, and the release calls it the start of "an entirely new chapter."
The product is metallurgical-grade fluorspar out of ore trucked down from the Lost Sheep mine, about 72 kilometres northwest of town.
The acid-grade plant on the same site is still a construction project.
We wrote that split on September 15 off the prospectus Ares filed on the 4th, and the grade question has not moved since.
The money question has, and the same prospectus carries a sentence about it that outranks anything said at a podium.
"If the ribbon goes on the metspar plant, what does finishing the acidspar one cost?"
Ares says, in writing, that it does not have a number.
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