Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 44

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 44
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 bursts, slides, fires, earthquakes or other adverse environmental occurrences,
industrial accidents, labour disputes, political and social instability, technical difficulties due to unusual or unexpected geological
formations, failures of pit walls, shafts, head frames, and/or underground workings, flooding and periodic interruptions due to inclement
or hazardous weather conditions, and geopolitical events, may not be fully insurable (if at all) or may result in coverage limits
being exceeded. In these circumstances, the Company may incur significant costs that could have a material adverse effect on its financial
performance and results of operations. Financial assurances may also be required with respect to closure and rehabilitation costs, may
increase significantly over time and reserved amounts may not be sufficient to address actual obligations at the time of decommissioning
and rehabilitation. Insurance against certain risks may not be available to Almonty at reasonable economic rates or at all. To the extent
that Almonty is subject to liabilities that are not economically or otherwise insurable, the payment of such liabilities would reduce
the funds available to Almonty.

Legal Systems

As civil law jurisdictions,
South Korea, Spain, and Portugal have legal systems which are different from the common law jurisdictions of Canada, Australia, and the
United States. Standard legal practices in civil law jurisdictions may result in risks such as (i) a higher degree of discretion on the
part of governmental authorities; (ii) the lack of judicial or administrative guidance on interpreting applicable rules and regulations,
particularly where those rules and regulations are the result of recent legislative changes or have been recently adopted; (iii) inconsistencies
or conflicts between and within various laws, regulations, decrees, orders and resolutions; and (iv) relative inexperience of the judiciary
and courts in such matters. In the case of foreign entities such as the Company doing business in civil law jurisdictions, effective
legal redress in the courts of such jurisdictions, whether in respect of a breach of law or regulation or in an ownership dispute, may
be more difficult to obtain. Additionally, legislation and regulations may be susceptible to revision or cancellation and legal redress
may be uncertain or delayed. There can be no assurance that joint ventures, licenses, license applications or other legal arrangements
will not be adversely affected by changes in governments, the actions of government authorities or others, or the effectiveness and enforcement
of such arrangements.

Reserve and Resource Depletion

The Company’s mineral reserves must be
replaced to maintain production levels over the long-term. Mineral reserves can be replaced