Group 1: Company Overview - Cameco is closely linked to the nuclear power industry as a supplier, primarily involved in mining and processing uranium, and has recently acquired half of Westinghouse, which provides services to the nuclear sector [2] - The company operates in a volatile uranium market, where prices fluctuate based on supply and demand dynamics, although it uses long-term contracts to stabilize cash flows [4] Group 2: Market Demand and Supply Dynamics - There is currently high demand for nuclear power driven by increasing electricity needs from technologies like artificial intelligence and electric vehicles, which has generated investor interest in the uranium sector [5] - Cameco anticipates a supply-demand gap by 2030, which could widen over time, potentially leading to significant increases in uranium prices if demand trends continue [7] Group 3: Stock Performance and Valuation - Over the past five years, Cameco's stock price has surged by more than 800%, with current price-to-sales and price-to-book ratios indicating that the stock may be overvalued compared to historical averages [8]

As filed with the Securities and Exchange Commission on January 30, 2026. Registration No. 333-292006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________________________ JAGUAR URANIUM CORP. (Exact name of registrant as specified in its charter) _____________________________________ | British Columbia | 1000 | Not applicable | | --- | --- | --- | ...

FORM S-1 REGISTRATION STATEMENT UNDER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ AMENDMENT NO. 3 TO THE SECURITIES ACT OF 1933 _____________________________________ JAGUAR URANIUM CORP. (Exact name of registrant as specified in its charter) _____________________________________ As filed with the Securities and Exchange Commission on January 30, 2026. Registration No. 333-292006 Rob Condon Dentons US LLP 1221 Avenue of the Americas New York, ...

Core Insights - The uranium sector has transitioned into a "long-duration structural bull market" due to significant supply constraints, moving beyond its previous status as a cyclical commodity [1][2][7] Supply and Demand Dynamics - The report highlights a critical disconnect between supply and demand, projecting that uranium prices could increase threefold or fourfold in the coming years [2][3] - The world aims to triple its nuclear capacity by 2050, while mine production is unable to keep pace with the rising demand driven by factors such as AI data centers [3][4] Supply Constraints - A supply deficit is anticipated in the 2030s, which cannot be resolved through political decisions or investments due to the time required to develop new uranium deposits, estimated at 10 to 15 years [4] - Kazatomprom, controlling approximately 40% of global production and over 65% of global reserves suitable for In-Situ Recovery (ISR), is positioned uniquely in the market [2][5] Competitive Landscape - Other major projects in Canada and Africa are deemed insufficient to match Kazatomprom's scale, with the report asserting that "an alternative – in the literal sense – does not exist" [6][7] - Cameco, a Canadian market leader, holds significant deposits in Kazakhstan, particularly through its 40% interest in the Inkai joint venture [6] Market Perception - Despite the physical realities of depleted commercial stockpiles and insufficient primary mine production to meet reactor demand, the market continues to treat uranium as a cyclical asset [7]

Core Insights - Energy Fuels Inc. and Cameco Corporation are positioned to benefit from the strengthening global nuclear energy supply chain, with uranium futures reaching $89 per pound, a 31.7% year-over-year increase, marking the highest level in nearly 20 months [2]. Group 1: Energy Fuels Inc. - Energy Fuels has been the leading U.S. producer of natural uranium concentrate, accounting for roughly two-thirds of domestic production since 2017, with its White Mesa Mill being the only fully licensed conventional uranium processing facility in the U.S. [4]. - In 2025, Energy Fuels' Pinyon Plain Mine and La Sal Complex produced over 1.6 million pounds of uranium, exceeding guidance by approximately 11%, with current operations running at an annualized rate of about 2 million pounds [5]. - The company has secured two uranium supply contracts with U.S. nuclear utilities for deliveries from 2027 through 2032, expecting to sell 780,000–880,000 pounds of uranium under long-term contracts in 2026 [6]. - Energy Fuels is diversifying into rare earth elements (REEs), expecting to commence commercial-scale production of heavy rare earths this year, and plans to expand REE processing capacity significantly [7][8]. - The feasibility study for the Vara Mada project in Madagascar confirms strong project economics and an initial mine life of 38 years, with a planned capital cost of $410 million [8]. Group 2: Cameco Corporation - Cameco accounts for around 16% of global uranium output and operates across the entire nuclear fuel cycle, holding significant stakes in major mines like McArthur River and Cigar Lake [9][10]. - Cameco revised its 2025 production outlook due to development delays, projecting a share of production from McArthur River at 9.8-10.5 million pounds [11]. - The company expects to offset production shortfalls with strong performance from Cigar Lake and is working to extend its mine life to 2036 [12]. - Cameco has entered a strategic partnership with the U.S. government to accelerate nuclear reactor technology deployment, backed by an investment of at least $80 billion [13]. Group 3: Financial Estimates and Performance - The Zacks Consensus Estimate for Energy Fuels indicates a revenue drop of 28.3% in 2026, with expected losses narrowing to 34 cents per share in 2025 [14]. - In contrast, Cameco's 2025 revenue is expected to grow by 4%, with earnings projected to surge by 100% to 98 cents per share [16]. - Year-to-date, Energy Fuels stock has appreciated 358.5%, outperforming Cameco's 159.2% gain, but Energy Fuels trades at a significantly higher forward price-to-sales multiple of 58.11X compared to Cameco's 21.95X [19][20]. Group 4: Conclusion - Both companies are well-positioned to benefit from favorable long-term trends in uranium demand, with Energy Fuels standing out for its strategic importance to U.S. uranium supply and diversification into REEs [21]. - However, Energy Fuels faces expected losses and a significantly expensive valuation, while Cameco offers stronger earnings visibility and a more reasonable valuation [24]. - Cameco appears better positioned for investors seeking exposure to uranium with a more balanced risk-reward profile, supported by its Zacks Rank 1 (Strong Buy) compared to Energy Fuels' Zacks Rank 3 (Hold) [25].

Core Viewpoint - Cosa Resources Corp. has commenced drilling at its Darby project and plans to follow up with drilling at Murphy Lake North, both located in the eastern Athabasca Basin, Saskatchewan, as part of a joint venture with Denison Mines Corp. [1][12] Group 1: Drilling Plans - Approximately 2,500 metres of drilling are planned at the Darby project in winter 2026 to test priority targets identified from a 2025 core relogging and reinterpretation program [2] - Drilling at Murphy Lake North will comprise approximately 1,200 metres, targeting a gap in existing drilling and testing a potential trend parallel to the Cyclone trend [3] Group 2: Project Details - The Darby project is located 10 kilometres west of Cameco's Cigar Lake Mine and has multiple prospective conductive trends with historical intersections of weak uranium mineralization [5] - Murphy Lake North is situated 2.7 kilometres east of the Hurricane deposit, which is known for being the world's highest-grade indicated uranium resource [6] Group 3: Joint Venture and Strategic Collaboration - Cosa holds a 70% interest in both the Darby and MLN projects, with Denison holding the remaining 30% [1][12] - In January 2025, Cosa entered a strategic collaboration with Denison Mines, securing access to additional highly prospective uranium exploration projects in the eastern Athabasca region [10]

Group 1: Market Overview - Global equity markets showed strong performance in Q4 2025, supported by easing inflation and positive economic data [1] - The Hardman Johnston Global Equity Strategy achieved a return of 2.91%, while the MSCI AC World Net Index gained 3.29% [1] - The Financials and Consumer Staples sectors contributed positively to the strategy's performance, whereas the Industrials and Consumer Discretionary sectors detracted from it [1] Group 2: Cameco Corporation Highlights - Cameco Corporation (NYSE:CCJ) was identified as a new holding in the Hardman Johnston Global Equity Strategy [2][3] - The stock of Cameco Corporation experienced a one-month return of 37.69% and a 52-week gain of 151.59%, closing at $125.97 per share with a market capitalization of $55.005 billion on January 27, 2026 [2] - The company is a leading player in uranium production and has a 49% stake in Westinghouse, enhancing its position in the nuclear sector [3] Group 3: Strategic Insights on Cameco Corporation - The shift in uranium sourcing away from Russia post-Ukraine invasion positions Cameco favorably to benefit from this structural change [3] - The global resurgence in nuclear development, driven by AI's energy demands and the low carbon benefits of nuclear power, is expected to enhance Cameco's earnings potential [3] - A significant agreement between Westinghouse and the U.S. Department of Commerce aims to support $80 billion in new nuclear reactor construction by 2030, which is anticipated to materially increase Cameco's earnings power [3]

Core Viewpoint - The global uranium narrative has shifted from potential to immediate necessity as nuclear power gains traction in the energy mix, prompting investors to focus on companies that can effectively transition from discovery to production [1] Company Overview - Alligator Energy (ASX:AGE) is positioned as a leading near-term uranium developer in Australia, with significant exploration potential and a strong management team experienced in delivering tier-one projects [3][16] - The company operates in South Australia, the only state in Australia currently producing uranium, which provides a favorable regulatory environment and a clear pathway to project approval [4][5] Project Development - Alligator's flagship project, Samphire, is advancing towards production using In-Situ Recovery (ISR) technology, which is responsible for approximately 60% of global uranium production [8] - The commissioning of the pilot plant for the Field Recovery Trial (FRT) is scheduled for mid-February, marking a significant de-risking event that will validate previous studies and provide data for the upcoming Bankable Feasibility Study [9][10] Resource Potential - The Samphire project currently has a Mineral Resource Estimate of 18 million pounds (Mlbs) of uranium concentrate, with an Exploration Target ranging from 14Mlbs to 75Mlbs U₃O₈, indicating substantial growth potential as only 28% of known paleochannels have been drill-tested [11][12] Recent Discoveries - In 2024, Alligator made a significant discovery at Big Lake, recognized as the "Discovery of the Year" at the 2025 Australian Mining Prospect Awards, highlighting its potential to become a major ISR uranium field [14] - A new drilling campaign at Big Lake is set to begin in early March to expand on previous findings [15] Leadership and Experience - The leadership team, led by Dr. Andrea Marsland-Smith, has a proven track record in uranium mining, including securing approvals and managing large-scale operations [16][17][18] Upcoming Milestones - Key upcoming milestones include the commissioning of the pilot plant in February, initial FRT results in early March, and an update to the Mineral Resource Estimate for Samphire in April [19][22]

Core Viewpoint - IsoEnergy Ltd. has successfully completed a bought deal financing and a non-brokered private placement, raising a total of C$25,000,005 through the issuance of 1,666,667 common shares at C$15.00 per share to NexGen Energy Ltd. [1][2] Group 1: Financing Details - The proceeds from the Concurrent Private Placement will be utilized for the continued development and exploration of the Company's mineral properties, as well as for general corporate purposes [2] - The Concurrent Private Placement allows NexGen to maintain its ownership interest in IsoEnergy at approximately 30% post-offering [3] - The shares issued are subject to a statutory hold period of four months and one day following the closing of the Concurrent Private Placement, with no commissions or fees payable [3] Group 2: Company Overview - IsoEnergy is a globally diversified uranium company with significant mineral resources in Canada, the U.S., and Australia, providing leverage to rising uranium prices [6] - The Company is advancing its Larocque East project in Canada's Athabasca basin, which contains the world's highest-grade indicated uranium mineral resource [6] - IsoEnergy also holds a portfolio of permitted past-producing uranium and vanadium mines in Utah, which are on standby for rapid restart as market conditions improve [6]

Core Viewpoint - IsoEnergy Ltd. has successfully closed a bought deal financing, raising C$57,501,150 through the sale of 3,833,410 common shares at C$15.00 per share, which includes the full exercise of the over-allotment option [1] Group 1: Financing Details - The offering was led by a syndicate of underwriters including Stifel Canada, Canaccord Genuity Corp., and Jett Capital Advisors, LLC [1] - Proceeds from the offering will be utilized for the continued development and exploration of the company's mineral properties, as well as for general corporate purposes [2] Group 2: Company Overview - IsoEnergy is a globally diversified uranium company with significant mineral resources in Canada, the U.S., and Australia, providing leverage to rising uranium prices [4] - The company is advancing its Larocque East project in Canada's Athabasca basin, which contains the world's highest-grade indicated uranium mineral resource [4] - IsoEnergy also holds a portfolio of permitted past-producing uranium and vanadium mines in Utah, which are on standby for rapid restart as market conditions improve [4]