Jaguar Uranium (JAGU) risk factors, FY2025 10-K

Risks Related to Our Financial Condition

1. 01We do not have an operating history, therefore, there is no assurance that we will be successful in achieving a return on an investment for investors in the Common Shares and our likelihood of success must be considered in light of our early stage of operations
2. 02We do not have any operating revenues or earnings and instead have a history of losses. We will continue to experience losses unless and until we can successfully develop and begin profitable commercial production at one of our mining properties
3. 03Significant additional capital is required to fund our business plan, and our ability to continue as a going concern depends on our ability to raise additional capital in the future
4. 04Our results of operations are subject to foreign currency fluctuation risks and such fluctuations may adversely affect our financial position and operating results
5. 05We face liquidity risk as we do not currently have revenue, and do not expect to have revenue in the foreseeable future
6. 06A material increase in costs at any significant location could have a significant effect on our profitability

Risks Related to Our Business

1. 07Our mineral reserves, if any, may be significantly lower than expected
2. 08We are reliant on third parties to conduct independent analyses with respect to our business, and any inaccuracies in such analyses could have a material adverse effect on our collection and development objectives
3. 09Opposition to mining and business activities could disrupt our business, operations and financial conditions
4. 10A shortage of equipment and supplies could adversely affect our ability to operate our business
5. 11Joint ventures and other partnerships, including offtake arrangements, may expose us to risks
6. 12We do not maintain insurance to cover all of the potential risks and hazards associated with our operations, and therefore we may be subject to liability for environmental, pollution or other hazards associated with our exploration, pre-extraction and extraction activities
7. 13Acquisitions that we make from time to time could have an adverse impact on us and our financial condition and results of operations
8. 14We may not be able to obtain, maintain or amend rights, authorizations, licenses, permits or consents required for our operations
9. 15Closure and remediation costs for environmental liabilities could materially affect our financial position and results of operations
10. 16Major nuclear incidents may have adverse effects on the nuclear and uranium industries, adversely affecting our operations and prospects
11. 17The marketability of uranium concentrates will be affected by numerous factors beyond our control which could materially affect our financial position and results of operations
12. 18A reduction in purchases of uranium by electric utilities for any reason would adversely affect the viability of our business as the only significant market for uranium is nuclear power plants world-wide and the number of customers is limited
13. 19Problems with the availability, condition and maintenance of adequate infrastructure could adversely affect our business
14. 20We do not currently own or have access to a mill and therefore will be dependent on third parties for the milling facilities needed for any future milling activities, which may not be available on favorable terms or at all
15. 21The price of alternative energy sources affects the demand for and price of uranium, thereby materially adversely affecting our business, results of operation and financial condition
16. 22The title to our mineral property interests may be challenged. A successful challenge to the precise area and location of our claims could result in us being unable to operate on our Properties as permitted or being unable to enforce our rights with respect to our Properties
17. 23Due to the nature of our business, we may be subject to legal proceedings which may divert management’s time and attention from our business and result in substantial damage awards
18. 24Competition from better-capitalized companies may affect our ability to acquire new properties and qualified personnel
19. 25Because we have limited capital, inherent mining risks pose a significant threat to us compared to our larger competitors
20. 26We may experience difficulty retaining and attracting qualified management, which could have a material adverse effect on our business and financial conditions
21. 27If we fail to maintain proper and effective internal controls, our ability to produce accurate and timely consolidated financial statements could be impaired, which could harm our operating results, our ability to operate our business and investors’ views of us
22. 28Cybersecurity incidents or failures of our information systems could adversely affect our business

Risks Related to Economic, Political, and Legal Matters

1. 29Due to our operations in emerging market countries, our financial condition and results of operations may be impacted by factors that are inherent in emerging markets
2. 30Our financial condition and results of operations are dependent on the economic and political developments in Latin American countries such as Colombia and Argentina
3. 31In the past, both Colombia and Argentina have experienced periods of weak economic activity and deterioration in economic conditions. We cannot assure that such conditions will not return or that such conditions will not have a material adverse effect on our business, results of operations or financial condition
4. 32The governments of Colombia and Argentina have historically exercised substantial influence over the economy, and their policies are likely to continue to have a significant effect on companies operating in Colombia and Argentina, including us
5. 33We may be subject to seizure or expropriation of assets, which could have a material adverse effect on our business, results of operations and financial condition
6. 34The local legal and regulatory systems in which our Properties exist may lead to uncertainties with respect to licenses and agreements for our business
7. 35Unauthorized mining and illegal activities pose a safety, security, social and environmental risk to the mining industry and our business and operations
8. 36Colombia and Argentina’s mining industries are less developed than the mining industry in the United States or Canada, which may cause our exploration and operating activities to take longer to complete and become more expensive
9. 37Guerilla and other criminal activity in Colombia, as well as the perception of such criminal activity, may hinder our ability to access capital in a timely and cost-effective manner and may have a negative effect on us, our employees, financial condition and results of operations
10. 38There can be no assurance that all permits that we require will be obtainable on reasonable terms, or at all. Delays or a failure to obtain such permits, or a failure to comply with the terms of any such permits that we have obtained, could have a material adverse impact on us
11. 39The environmental laws applicable to us and our operations could cause significant additional expense, capital expenditures, restrictions and delays in our operations
12. 40Breaches of environmental laws (whether inadvertent or not) or environmental pollution may materially and adversely affect our business, results of operations and financial condition
13. 41Certain Canadian laws could delay or deter a change of control
14. 42Global economic risks may affect our ability to obtain adequate, reasonable and acceptable financing in the future

Risks Related to the Mining Industry

1. 43The degree of risk inherent in the mining industry and the potential changes to the factors that impact us as a mining company, may have a negative impact on our business and operations
2. 44The unexpected expenses we may incur could adversely impact our operations, financial condition and results of operations
3. 45Interpretation of royalty agreements in the jurisdictions of our Properties may have a material adverse effect on us and our operations
4. 46The fluctuations in the price of base metals and in particular, the price of uranium and other REE may cause the price of our Common Shares to fluctuate or decline
5. 47Market fluctuations and commercial quantities of minerals may affect their commercial viability thereby resulting in us not receiving adequate return on invested capital or having our mineral projects rendered uneconomical
6. 48Reserve estimates are subject to evaluation uncertainties and there may be material differences between actual and estimated mineral resources and reserves, which may impact the viability of our Properties
7. 49Certain non-governmental organizations that oppose globalization, resource development and the mining industry may generate adverse publicity thereby having an adverse effect on our reputation and financial condition
8. 50The competition we face in the mining industry may make it more difficult for us to acquire additional mining properties, mining professionals, service and equipment
9. 51International trade agreements and policies may affect the supply of uranium available to the market and may have a material adverse effect on the Company’s business and operations
10. 52We are susceptible to the risks inherent in the nuclear energy sector
11. 53The potential impacts of climate change on us are uncertain and may materially and adversely impact our business, results of operations and financial condition
12. 54Shortages of equipment and supplies may hinder our ability to carry out operations

Risks Related to our Common Shares

1. 55We have never paid nor do intend to pay dividends in the foreseeable future and, as a result, your ability to achieve a return on your investment will depend on appreciation in the price of our Common Shares
2. 56Future issuances of our Common Shares or securities convertible into, or exercisable or exchangeable for, our Common Shares, could cause the market price of our Common Shares to decline and would result in dilution of your holdings
3. 57We are an “emerging growth company,” and cannot be certain if the reduced reporting requirements applicable to emerging growth companies will make our Common Shares less attractive to investors
4. 58We are a “ smaller reporting company ,” and cannot be certain if the reduced reporting requirements applicable to smaller reporting companies will make our Common Shares less attractive to investors
5. 59Our Common Shares may become subordinate to future indebtedness or preferred shares, each with rights and preferences senior to our Common Shares
6. 60Our Common Shares are listed on the NYSE American under the trading symbol “JAGU”
7. 61Financial Industry Regulatory Authority (“FINRA”) sales practice requirements may limit a shareholder’s ability to buy and sell the Common Shares
8. 62We have broad discretion in the use of the net proceeds from our IPO and may not use them effectively
9. 63It may not be possible for foreign investors to enforce actions against us, and our directors and officers
10. 64Certain parties have the right to nominate directors to our board of directors, and their interests may conflict with ours or yours in the future
11. 65Restrictions on Common Share transfers and issuances may limit shareholder flexibility and control