Jaguar Uranium Corp.

What they do

The company controls the Berlin Project in the Department of Caldas, Colombia, its principal exploration project, and the Laguna Salada and La Rosada concessions in Chubut Province plus the Huemul Project in Mendoza Province, Argentina. The Berlin Project was acquired in April 2024 and the Argentina projects in July 2024, following incorporation in December 2022. Areas are known to have uranium indications as well as rare earth metals and base metals, specifically copper at Huemul. It has completed S-K 1300 Technical Report Summaries for all three projects but has no current mineral resources or reserves and has never recognized mining revenue.

Revenue drivers

• Uranium exploration (Berlin Project, Colombia) — Principal exploration project; no production or revenue. The deposit is described as containing battery commodities including vanadium, nickel and phosphate alongside uranium.
• Uranium exploration (Laguna Project, Argentina) — Exploration-stage concession in Chubut Province covered by a Technical Report Summary effective August 13, 2024; no revenue.
• Uranium and copper exploration (Huemul Project, Argentina) — Exploration-stage project in Mendoza Province known for uranium indications and copper; Technical Report Summary effective August 13, 2024; no revenue.
• Equity financing — The company has funded itself entirely through private placements, warrant exercises, a convertible note and its February 2026 IPO; it has no operating revenue.

Recent performance

Revenue was nil for the three and six months ended June 30, 2026. Total operating expenses rose to $1,041,835 for the second quarter of 2026 from $432,273 a year earlier, and to $2,464,350 for the first half from $939,385. The increase was driven by general and administrative expenses of $629,296 in the quarter and $1,768,242 for the half, plus higher legal, professional and exploration costs. The first half of 2026 also recorded non-cash charges of $17,747,028 for liquidity and listing event shares and $720,700 for a liquidity event deferred cash payment related to the IPO and acquisitions. Annual net loss narrowed to $2.3 million in 2025 from $5.8 million in 2024.

Strategy

Management intends to continue exploration and development of its mineral interests in Colombia and Argentina, running studies that will include trenching, sampling, drilling and pilot testing. The February 11, 2026 IPO raised $25 million gross, or approximately $22.7 million net of $1,875,000 in agent fees and other expenses, and converted the convertible debenture into 50,000 shares. IPO-related issuances included 400,000 listing shares and 600,000 top-up shares tied to the Argentina acquisition and 3,836,757 liquidity event shares to GCOM tied to the Colombia acquisition. The stated objective is to establish and grow resource levels and eventually reach profitable production, though no resources or reserves exist today.

Risks

• No operating history or revenue — The company has never mined or refined minerals, has recognized no revenue, and has no current mineral resources or reserves under S-K 1300.
• Exploration and development uncertainty — The company states there is no assurance its properties will be placed into production, produce minerals in commercial quantities, or generate operating earnings.
• Financing and cash position — Operations have been financed by equity sales and the IPO; cash and equivalents were $413,339 at June 30, 2026 against first-half 2026 operating expenses of $2,464,350, and management cannot assure financing will be available on attractive terms or at all.
• Developing-country and jurisdiction exposure — Properties are in Colombia and Argentina, which the company describes as developing countries, adding permitting, community, rule-of-law and foreign exchange risks.

Outlook

Management says it anticipates continuing exploration and development of its mineral interests and securing and maintaining title to its properties during the balance of 2026. It states there is no assurance it will achieve revenues, generate a profit, or that its exploration programs will establish economic resources. The company believes it can secure additional financings but gives no assurance as to amount, terms or timing.