Core Viewpoint - Alligator Energy is transitioning into a significant developer in the uranium sector, with its flagship project Samphire being a key asset in this evolution, supported by a well-defined resource [1]. Group 1: Company Developments - Alligator Energy is preparing to activate a plant and commence a field recovery trial at the Samphire project [2]. - The company anticipates significant potential to increase its resource over time [2]. - Alligator is also exploring the Big Lake project in the Cooper Basin, which is expected to be a promising ISR-style uranium province in South Australia [2].

As filed with the Securities and Exchange Commission on January 26, 2026. Registration No. 333-292006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 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 | | --- | --- | --- | | (State or other jurisdiction of | ( ...

Group 1 - Cameco Corporation (NYSE:CCJ) is recognized as a strong investment opportunity in the AI energy sector, particularly due to its focus on uranium and copper amid tightening supply-demand dynamics [2][3]. - Raymond James has raised its price target for Cameco from C$150 to C$165, maintaining an 'Outperform' rating, citing structural appeal in the copper and uranium markets [2]. - Bernstein has also increased its price target for Cameco from $100 to $101, attributing this to the tightening supply of uranium and rising term prices, with expectations of prices remaining above $85 per pound through 2029 [3][4]. Group 2 - The company is well-positioned to benefit from market trends and growing policy support for nuclear energy, with expectations of reactor restarts and utility contracting enhancing its growth narrative [4]. - Cameco focuses on uranium exploration, mining, milling, and fuel services, providing low-cost, large-scale uranium production and comprehensive nuclear fuel solutions to global utilities [5].

Core Viewpoint - Terra Clean Energy Corp. is set to acquire up to a 100% interest in the Freedom & Prospector Mines Project, which includes 6 unpatented Lode Mining Claims covering 39.5 hectares in a historic uranium mining district [1][3]. Transaction Highlights - The acquisition involves a staged earn-in structure, requiring cash payments, share issuances, and exploration expenditures to gradually increase ownership from 20% to 100% [14]. - The project is located in Piute County, Utah, near the Fishlake National Forest, with good access to infrastructure [5][8]. Rationale Behind the Acquisition - Historical production from the Marysvale district recorded over 1.33 million pounds of U3O8, with over 75% sourced from the Freedom and Prospector Mines [3][8]. - The mines were abandoned in the 1970s due to a market collapse rather than depletion of resources, indicating potential for future exploration [4][3]. - Modern exploration technologies, such as 3D modeling, are expected to enhance resource identification and extraction [4]. Project Overview - The project consists of 6 contiguous claims with a history of uranium production, situated in a favorable location with access to roads, power, and water [5][8]. - The area features nearly vertical fissure veins and is characterized as an epithermal vein-style uranium system [7]. Government and Market Context - Uranium has been added to the U.S. List of Critical Minerals, which may facilitate permitting and access to federal funding for uranium projects [8]. - There is strong government support for nuclear power and uranium mining, aiming to reduce reliance on foreign nuclear fuel [8]. Exploration Potential - Preliminary assessments indicate significant remaining ore and resource potential on the property, with plans for further exploration and data acquisition [9]. - The company aims to utilize both air and ground-based radiometric surveys to develop an updated structural model for efficient drilling [9]. Marketing Agreements - Terra has engaged Ares Capital Markets Group for marketing services, with an upfront payment of USD 100,000 for a three-month period [18][19]. - Additionally, an agreement with Aktien Check for European marketing activities has been established, with a payment of 25,000 Euros for one month of services [21]. Company Background - Terra Clean Energy is a Canadian-based uranium exploration and development company, also involved in developing the South Falcon East uranium project in Saskatchewan, Canada [23].

Core Viewpoint - Purepoint Uranium Group Inc. has commenced drilling at the Dorado Project as part of a joint venture with IsoEnergy Ltd, aiming to expand the high-grade Nova Uranium Discovery and advance other priority targets across the property [1][3]. Winter 2026 Nova Expansion Program - The winter drill program is the first phase of a fully approved multi-campaign exploration initiative at Dorado, following the 2025 Nova Discovery which reported uranium grades of up to 8.1% U₃O₈ over 0.4 meters within 2.1 meters of 1.6% U₃O₈ in hole PG25 07A [2][8]. - Drilling will focus on systematic step-outs along the mineralized structure, specifically targeting the northeastern extension where the strongest uranium mineralization has been found [5][8]. Advancing a District Scale Opportunity - The Dorado Project includes multiple priority target areas characterized by conductive corridors, fault structures, and favorable graphitic lithologies [6][15]. - An airborne magnetotellurics survey is planned for later this winter or early spring to refine deeper structural targets across several grids, supporting ongoing district-scale evaluation of the joint venture land package [6]. Future Plans - A helicopter-supported summer drill program is planned to test additional targets across the Dorado Project, contingent on the results from the winter drilling [7][8]. - The winter program will include up to 10 drill holes totaling approximately 4,300 meters, focusing on the corridor between holes PG25-03 and PG25-07A, which has an 800-meter strike length with the strongest mineralization currently toward the northeast [8].

Company Overview - Cameco is one of the largest global providers of uranium fuel, with a controlling stake in the world's largest high-grade uranium reserves and low production costs of less than $46 per pound by 2025, compared to a current spot price of over $85 per pound [4][6] - The company owns a 49% stake in Westinghouse Electric Company and Global Laser Enrichment, enhancing its position in the nuclear energy sector [5] Financial Performance - Cameco's revenue is divided into three segments, with uranium mining contributing $1.3 billion in the first nine months of 2025, while refining and enriching uranium added $279 million [6] - The company generates approximately $2.2 billion in annual revenue, with a profit margin that has increased from 8% to 23% year-to-date [7][10] - Despite a market valuation exceeding $50 billion, Cameco earned less than $378 million over the last 12 months, resulting in a trailing price-to-earnings ratio of 134 [9] Competitive Position - Cameco is one of the few profitable companies in the nuclear power industry, contrasting with competitors like Uranium Energy and Energy Fuels, which report no profits [8][9] - The company's free cash flow is notable, nearly doubling its reported net income to $698 million, leading to a price-to-free-cash-flow ratio of 72 [10] Growth Potential - Analysts predict that Cameco will achieve the highest growth rate in the industry over the next five years, estimating a 75% annual growth rate [10] - The Westinghouse division is expected to benefit from an $80 billion investment in large nuclear power plants in the U.S., which could further enhance Cameco's profitability [12][13] - Achieving the aggressive earnings growth target of 75% could justify the current valuation, even with a price-to-free-cash-flow ratio of 72 [14]

Core Insights - Commodities, particularly uranium, are experiencing strong performance, with expectations for increased demand driven by new investments and geopolitical factors [1][3] - Major tech companies are investing heavily in nuclear power to support their operations, indicating a shift towards nuclear energy as a solution for rising electricity needs [2] - Supply constraints may hinder the ability to meet the surging demand for uranium, potentially leading to sustained price increases [3] Demand and Supply Dynamics - The U.S. government announced a deal in October 2025 to allocate up to $80 billion for new nuclear reactors, signaling a significant boost in uranium demand [1] - Early indicators suggest that uranium production may not expand sufficiently to meet the increasing demand, compounded by geopolitical tensions [3] Investment Opportunities - Uranium miner ETFs are providing attractive returns, with the Sprott Uranium Miners ETF (URNM) showing a year-to-date increase of 37.18% as of January 22, 2026 [5] - The Sprott Junior Uranium Miners ETF (URNJ) is also performing well, with a year-to-date increase of 40.28% as of the same date, focusing on smaller uranium miners for potential growth [6][7]

Core Viewpoint - Stallion Uranium Corp. is expanding its high-resolution ground gravity survey on the Coyote Target corridor in the Athabasca Basin, aiming to identify additional gravity lows and refine existing anomalies [1][2][3] Survey Expansion - The current program is designed to extend the previous ground gravity survey by expanding coverage to the west, with the goal of identifying additional gravity lows and refining the geometry of previously identified anomalies [2][6] - The survey will focus on gravity lows identified along the edges of the previous survey, which remain open and poorly constrained [6] Exploration Rationale - The Coyote Target was selected based on a comprehensive evaluation of historical and recent datasets, indicating characteristics consistent with basement-hosted uranium systems in the Athabasca Basin [4] - Hydrothermal alteration in the area is expected to result in density destruction that can be delineated using high-resolution ground gravity surveys [4] Technical Aspects - MWH Geo-Surveys Ltd. is conducting the program using advanced gravity meters that provide high accuracy and reliability, particularly in cold weather [7][9] - The gravity survey aims to improve the understanding of the size, orientation, and continuity of priority anomalies at the Coyote Target [6] Company Overview - Stallion Uranium is focused on exploring approximately 1,700 square kilometers in the Athabasca Basin, which is known for having the largest high-grade uranium deposits globally [15] - The company is committed to responsible exploration and utilizes cutting-edge technology to advance its uranium projects [15]

Group 1 - American Tungsten & Antimony is set to list on NASDAQ in Q2 2026, with Deutsche Bank facilitating the process, amid renewed interest in critical minerals due to Trump's initiatives [2] - West Wits Mining, an African-based gold explorer, is experiencing increased market interest and liquidity as gold prices approach US$5,000 per ounce due to geopolitical factors [3] - Nyrada Inc, a US-based biotech listed on ASX, has seen a remarkable 1280% increase over the past year, with a recent quarterly report contributing to a further 10% jump in share price [4] Group 2 - PLS Group is back in focus as lithium carbonate benchmarks rise to levels not seen since 2023, potentially leading to dividend payments [4] - Australian Strategic Materials is facing mixed reactions as Energy Fuels, a US-based uranium and critical minerals player, seeks to acquire the company at a premium, with board agreement [5] - Lumos Diagnostics has posted a significant 450% gain over the past year, making it a topic of ongoing discussion among investors [5]

Summary of Cameco (NYSE:CCJ) FY Conference Call - January 22, 2026 Industry Overview - The nuclear industry fundamentals are reported to be stronger than ever, with increasing demand for uranium driven by the revival of nuclear reactors and new constructions globally [2][10] - There are over 60 gigawatt-scale reactors currently under construction worldwide, with significant potential for further developments in 2026 [3][4] Demand Insights - Nuclear demand is projected to rise due to the reactivation and extension of existing reactors, as well as the construction of new reactors [3][4] - The base case demand for uranium is believed to be understated, as it does not account for several significant projects, including a recent $80 billion initiative to build 10 reactors in the U.S. [4][5] - The demand for uranium is also expected to increase from naval propulsion and potential applications in AI and hyperscalers, which are not included in current demand forecasts [5] Supply Dynamics - The supply of uranium is considered overstated, with many projects not operating at full capacity due to insufficient uranium prices [6][9] - The secondary supply, historically significant, is now limited, particularly due to the absence of Russian supply in the Western market [7][8] - The planned production line is also overstated, as preliminary economic assessments are often not realized within the projected timelines [8] Contracting and Pricing Strategy - The uncovered requirements for utilities have never been larger, indicating a strong future demand for uranium [9][10] - The long-term price of uranium is currently at $86 per pound, which is seen as insufficient to convert more resources into reserves [12][19] - The market is shifting towards higher price expectations, with indications that the midpoint of market-related contracts is around $115 per pound [14][16] Strategic Positioning - Cameco is maintaining a disciplined production strategy, not running all assets at full capacity to capture demand at favorable terms [15][19] - The company is focusing on off-market contracts and has significant sovereign demand, indicating a robust pipeline of future contracts [17][19] - Cameco's vertical integration from reactor construction to fuel supply allows for early engagement in the supply chain, enhancing its strategic position [30] Enrichment Strategy - Cameco is exploring opportunities in the enrichment space, particularly with Global Laser Enrichment, while being cautious about trade policies and the potential return of Russian enrichment to the market [31][34] - The company is focused on a project to re-enrich depleted UF6 tails, which could yield significant uranium supply without competing directly in the enrichment market [33] Conclusion - The overall sentiment is optimistic regarding the nuclear industry's revival, with Cameco well-positioned to capitalize on the anticipated demand surge and favorable market conditions [20][31]