Etango Strategic Financing with Leading Global Integrated Nuclear Utility, CNNC For personal use only Delivering Bannerman as a production business for the long-term: Construction funded, strongly price leveraged, strategically partnered FEBRUARY 2026 ASX:BMN, OTCQX:BNNLF AND NSX:BMN CAUTIONARY STATEMENT Important notices Of the Mineral Resources scheduled for extraction and recovery in the Etango-8 Definitive Feasibility Study (DFS) and Etango-XP / XT Scoping Study (Scoping Study), 100% are classified as M ...

District Metals Conference Summary Company Overview - **Company Name**: District Metals - **Stock Symbols**: OTCQX: DMXCF, TSXV: DMX - **Industry**: Mineral exploration and development, focusing on uranium and base metals in Sweden Key Points and Arguments Industry Context - The Swedish government lifted the uranium ban effective January 1, 2026, allowing exploration and mining to proceed [2][12] - A proposed inquiry into alum shale mining is seen as politically motivated due to the upcoming elections in Sweden [3][32] - The Geological Survey of Sweden is reviewing the Viken Deposit as a deposit of national interest, which could override municipal vetoes [4] Company Strategy and Projects - District Metals has five uranium projects and two base metal polymetallic projects in Sweden [4] - The flagship Viken Project is noted as the largest undeveloped uranium deposit globally, with significant resources of vanadium, potash, molybdenum, nickel, copper, and zinc [5][6] - The company is also exploring alum shale properties, aiming to discover additional deposits similar to Viken [6][19] Financial Position - The company has approximately CAD 8.5 million in treasury, fully funding its plans for the year [10][11] - The share structure includes significant institutional and high-net-worth investors, indicating strong support [10] Exploration and Development Plans - A preliminary economic assessment (PEA) for the Viken Deposit is expected in Q2 2026, followed by an Economic Impact Study in Q3 [27][28] - Drilling is anticipated to commence in Q2, with results expected in Q3 and Q4 [28] Market Position and Valuation - The current enterprise value per inferred resource is at $0.04, significantly lower than peers, indicating a potential investment opportunity [22] - The company emphasizes the value of its diverse resource base, including potash, which is critical for the EU's agricultural needs [33] Additional Important Information - The alum shale is not considered more environmentally risky than other mineral deposits, based on previous inquiries [31][34] - The company plans to assay for rare earth elements in future drilling, which could enhance the value of the Viken Deposit [35][36] - The permitting process in Sweden is described as straightforward, with strong governmental support for mining activities [11] Conclusion District Metals is positioned to capitalize on the lifting of the uranium ban in Sweden, with a strong portfolio of projects and a solid financial foundation. The political landscape and regulatory environment are favorable, although potential risks related to municipal vetoes and market fluctuations remain. The company's focus on diverse resources, including potash and rare earth elements, adds to its attractiveness as an investment opportunity.

Company Overview - IsoEnergy Ltd. is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions in Canada, the United States, and Australia [2]. Recent Performance - The share price of IsoEnergy Ltd. fell by 11.20% between February 3 and February 10, 2026, making it one of the Energy Stocks that Lost the Most This Week [1]. - Despite the recent downturn, the share price of IsoEnergy Ltd. is up by over 4.5% since the beginning of 2026 [4]. Market Conditions - IsoEnergy has been under pressure primarily due to a decline in the price of uranium, with US uranium futures currently at $88 per pound, down from a near two-year high of $101.5 at the end of January [3]. - A report indicated that Uzbekistan boosted its annual uranium production to 7,000 metric tons last year, exceeding initial estimates of 4,200 metric tons, contributing to the increase in global supply [3]. - Uzbekistan aims to increase uranium production to 7,200 tons per year by 2030 and has increased its uranium reserves to 139,000 tons [4].

Core Insights - The analysis of NexGen Energy (NXE), a uranium stock on the NYSE, has been updated, indicating progress since the last coverage [1] Company Analysis - NexGen Energy is positioned within the uranium sector, which is experiencing notable developments that may influence investment strategies [1] Investment Strategy - The article outlines a versatile investment strategy suitable for various investor profiles, including those focused on dividends, value propositions, or growth opportunities [1]

Core Viewpoint - Jaguar Uranium Corp. successfully closed its initial public offering (IPO) of 6,250,000 Class A common shares at a price of $4.00 per share, raising a total of $25 million in gross proceeds to fund its exploration plans over the next two years [1][3]. Group 1: IPO Details - The IPO was completed on February 11, 2026, and was supported by both new and existing investors focused on critical minerals, including a strategic investment from IsoEnergy [1]. - The net proceeds from the offering will be utilized for the implementation of the company's business plan, which includes exploration, development plans, property maintenance, and general corporate purposes [2]. Group 2: Company Overview - Jaguar Uranium is focused on uranium exploration and development, with projects located in Argentina and Colombia, maintaining significant land holdings that offer substantial exploration potential [6]. - The company aims to establish and grow resource levels to introduce new uranium production, addressing the expanding global supply deficiency [6]. Group 3: Management Commentary - The CEO of Jaguar Uranium expressed excitement about the successful IPO and gratitude towards partners and investors for their support, emphasizing the company's strong position for further exploration [3]. Group 4: Regulatory Information - A registration statement for the securities was declared effective by the SEC on January 30, 2026, and the offering is being made only by means of a prospectus [4].

Core Viewpoint - Stallion Uranium Corp. has initiated its 2026 winter diamond drilling program at the Moonlite Project, targeting the Coyote Corridor, which has been identified as a significant structural zone for uranium exploration [1][4]. Drilling Program Details - The drilling program will utilize two diamond drill rigs to complete approximately 4,000 meters, focusing on six to eight drill holes [6][10]. - Drilling is conducted by Base Drilling, a contractor experienced in the Athabasca Basin [3][13]. - The program aims to test high-priority targets characterized by geophysical signatures associated with uranium deposits, including conductive graphitic structures and gravity anomalies [5][11]. Target Characteristics - The Coyote Target is a newly defined structural corridor that has never been drilled before, representing a compelling opportunity for high-grade uranium mineralization [6][10]. - The target area displays geological features similar to those found in other major uranium discoveries in the Athabasca Basin, indicating strong potential for discovery [4][5]. Exploration Rationale - The exploration strategy is based on over a year of integrated geophysical surveys and geological modeling, leading to the identification of a well-defined target for uranium mineralization [6][11]. - The program is designed to refine targeting in real-time as drilling progresses, allowing for adjustments based on immediate results [6][10]. Location and Context - The Moonlite Project is situated in a highly prospective area of the western Athabasca Basin, near several world-class uranium deposits [6][15]. - The project covers 1,700 square kilometers, making it one of the largest contiguous uranium exploration projects in the region [15].

Company Overview - Cameco Corporation (NYSE:CCJ) is a leading uranium producer in North America, recognized for its high-grade mines such as MacArthur River and Cigar Lake, and holds a stake in the Inkai joint venture in Kazakhstan [1] - The company provides refining and fuel manufacturing services, positioning itself to benefit from the growing adoption of nuclear energy as a low-carbon power source [1] Earnings Expectations - Cameco is set to release its quarterly earnings on February 13, 2026, with analysts expecting an earnings per share (EPS) of $0.28, which represents a 7.7% year-over-year increase [2] - The projected revenue for the company is around $809 million, with estimates remaining stable over the past two months, indicating confidence in its performance [2] Production and Market Dynamics - The company aims to deliver between 32 to 34 million pounds of uranium in 2025, supported by production from Cigar Lake and market purchases [3] - Rising uranium prices and guidance from Westinghouse's EBITDA may positively impact Cameco's earnings, although the company has experienced an average negative earnings surprise of 14.8% over the last four quarters [3] Industry Trends - The nuclear energy sector is experiencing growth due to increasing demand and tightening supplies, with U.S. plans to quadruple nuclear energy capacity by 2050 [4] - Geopolitical risks, particularly concerning Russia as a major uranium supplier, are influencing this shift towards nuclear energy [4] - Kazakhstan is nearing peak uranium production, which could lead to a structural supply shock, benefiting Cameco and Energy Fuels Inc [5] - Despite challenges such as limited exploration spending and slow permitting processes, the demand for uranium is rising as governments seek energy security and carbon reduction [5] Stock Performance - Cameco's stock has surged by 395% since 2023, reflecting its strong market position amidst the growing demand for nuclear energy and potential supply shocks from Kazakhstan [4][6]

Core Insights - Noble Plains Uranium Corp. has successfully completed a 148-hole, 30,825-foot drill program at its Duck Creek Project, yielding strong results that exceed expectations and confirming the project's potential for significant uranium resources [1][2][4]. Drill Program Highlights - The drill program achieved a 90% hit rate, with 90.12% of holes intersecting uranium mineralization at or above the 0.02% eU₃O₈ cut-off grade [2][3]. - Notable drill results include Hole 25-16-140, which returned 17.5 feet of 0.235% eU₃O₈, and Hole 25-28-143, which intersected 9.0 feet of 0.228% eU₃O₈, with high-grade intercepts indicating a continuous mineralized corridor suitable for ISR extraction [2][3][5]. Geological Significance - The consistency and reproducibility of results across the drill program support the geological model, confirming the continuity of the roll-front system and the potential for higher-grade centers [6][7]. - The northern drilling confirmed the trend continuity and supports the expansion of the project footprint, aligning with known uranium resources held by Uranium Energy Corp. [6][7]. Future Plans - The company is set to compile data and conduct geological modeling to deliver its first compliant uranium resource estimate in accordance with NI 43-101 standards this spring [11][12]. - Noble Plains is also collaborating with the University of Wyoming to test geophysical methods for identifying roll fronts at depth, enhancing future exploration efficiency [10][12]. Strategic Positioning - Duck Creek is central to the company's strategy of building a growing inventory of U.S. uranium pounds in proven production districts, positioning it to benefit from a strengthening uranium price environment and increasing government support for domestic critical mineral supply [12][16].

Core Viewpoint - Paladin Energy Ltd has released a presentation for the Langer Heinrich Mine investor site visit scheduled for February 12, 2026, in Namibia, highlighting its ongoing commitment to transparency and investor engagement [1]. Company Overview - Paladin Energy Ltd is a significant independent uranium producer with a 75% ownership stake in the Langer Heinrich Mine, which is recognized as a world-class long-life asset located in Namibia [3]. - The company expanded its portfolio in late 2024 by acquiring Fission Uranium Corp. in Canada, leading to a dual-listing on both the ASX and TSX [3]. - Paladin now operates a diverse range of uranium development and exploration assets across Canada, including the Patterson Lake South Project in Saskatchewan and the Michelin project in Newfoundland and Labrador, along with exploration assets in Australia [3]. - The company emphasizes a sustainability framework that promotes responsible and transparent management of uranium resources, contributing to global decarbonization efforts and providing reliable uranium supply to major nuclear utilities worldwide [3].

Core Insights - Paladin Energy Ltd has released its December 2025 Half Year Financial Accounts, showcasing strong operational performance and financial stability during the first half of FY2026 [1][4]. Financial Performance - The company sold 1.96 million pounds of U₃O₈ at an average realised price of US$70.5 per pound, generating sales revenue of US$138.3 million [4][5]. - The cost of sales for the period was US$112.3 million, leading to a gross profit of US$26.0 million, a significant increase from US$0.9 million in the previous period [5][6]. - The net loss after tax was US$6.6 million, an improvement from a loss of US$15.1 million in the same period last year, attributed to ongoing production ramp-up and business expansion [6]. Operational Highlights - The Langer Heinrich Mine (LHM) has shown strong performance, with the mining team optimizing production processes and ramping up activities [3][4]. - The company has successfully completed a fully underwritten A$300 million equity raising and a A$100 million share purchase plan to support the development of the Patterson Lake South (PLS) Project [5][6]. Financial Position - Total unrestricted cash and investments increased by 213% to US$278.4 million, up from US$89.0 million as of June 30, 2025 [7][8]. - The company restructured its debt facility, reducing the overall debt capacity from US$150 million to US$110 million, enhancing liquidity and balance sheet flexibility [9][10]. Debt Restructuring - The restructured debt facility includes a US$40 million term loan and an undrawn revolving credit facility of US$70 million, with no additional debt drawn during the period [10][9].