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risks associated with future sales of Common Shares by existing shareholders;
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the risk of dilution from future equity or debt financings;
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risks associated with the Company’s use of proceeds from the sale of its securities;
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the history of the Company with respect to not paying dividends and anticipation of not paying dividends in the foreseeable future;
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absence of a market through which the Company’s securities, other than Common Shares, may be sold;
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risks related to dilution to existing shareholders if stock options or share purchase warrants are exercised; and
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risks related to the liquidity of the Common Shares.
The risk factors listed above are discussed in more detail later in this prospectus (see “Risk Factors”). The risk factors discussed in this prospectus are not, and should not be construed as being, exhaustive.
Material assumptions
The forward looking statements in this prospectus and the documents incorporated by reference herein are based on material assumptions, including the following, which may prove to be incorrect:
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our budget, including expected levels of exploration, evaluation and operations activities and costs, as well as assumptions regarding market conditions and other factors upon which we have based our income and expenditure expectations;
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assumptions regarding the timing and use of our cash resources;
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our ability to, and the means by which we can, raise additional capital to advance other exploration and evaluation objectives;
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financial markets will not in the long term be adversely impacted by the COVID-19 pandemic;
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our operations and key suppliers are essential services, and our employees, contractors and subcontractors will be available to continue operations;
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our ability to obtain all necessary regulatory approvals, permits and licenses for our planned activities under governmental and other applicable regulatory regimes;
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our expectations regarding the demand for, and supply of, uranium, the outlook for long-term contracting, changes in regulations, public perception of nuclear power, and the construction of new and ongoing operation of existing nuclear power plants;
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our expectations regarding spot and long-term prices and realized prices for uranium;
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our expectations that our holdings of physical uranium will be helpful in securing project financing and/or in securing long-term uranium supply agreements in the future;
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our expectations regarding tax rates, currency exchange rates, and interest rates;
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our decommissioning and reclamation obligations and the status and ongoing maintenance of agreements with third parties with respect thereto;
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our mineral reserve and resource estimates, and the assumptions upon which they are based;
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our, and our contractors’, ability to comply with current and future environmental, safety and other regulatory requirements and to obtain and maintain required regulatory approvals; and
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our operations are not significantly disrupted by political instability, nationalization, terrorism, sabotage, pandemics, social or political activism, breakdown, natural disasters, governmental or political actions, litigation or arbitration proceedings, equipment or infrastructure failure, labour shortages, transportation disruptions or accidents, or other development or exploration risks.