Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 2

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 3
Chunk 2
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 us. If we raise additional funds by issuing debt securities, these debt securities could impose significant restrictions on our operations. Any such required financing may not be available in amounts or on terms acceptable to us, and the failure to procure such required financing could have a material and adverse effect on our business, financial condition, and results of operations, or threaten our ability to continue as a going concern.

7

We may not be able to acquire additional funds on acceptable terms, or at all. If we are unable to raise adequate funds, we may have to delay, reduce the scope of or eliminate some or all our planned exploration programs. If we do not have, or are not able to obtain, sufficient funds, we may be required to delay further exploration, development, or commercialization of our expected mineral resources, if and when verified. We also may have to reduce the resources devoted to our mining efforts or cease operations. Any of these factors could harm our operating results.

Our business is subject to operational risks that are generally outside of our control and could adversely affect our business.

Mineral mining sites, like the sites where our Athabasca Uranium Properties and our Lithium Lane Properties are located, by their nature are subject to many operational risks and factors that are generally outside of our control and could adversely affect our business, operating results, and cash flows. These operational risks and factors include the following:

  unanticipated ground and water conditions;  

  adverse claims to water rights and shortages of water to which we have rights;  

  adjacent land ownership that results in constraints on current or future operations;  

  geological problems, including earthquakes and other natural disasters;  

  metallurgical and other processing problems;  

  the occurrence of unusual weather or operating conditions and other force majeure events;  

  lower than expected ore grades or recovery rates;  

  accidents;  

  delays in the receipt of or failure to receive necessary government permits;  

  the results of litigation, including appeals of agency decisions;  

  uncertainty of exploration and development;  

  delays in transportation;  

  interruption of energy supply;  

  labor disputes or labor shortages;  

  inability to obtain satisfactory insurance coverage; and  

  the failure of equipment or processes to operate in accordance with specifications or expectations.  

Any one or more of these factors or other risks could cause us not to realize the anticipated benefits from our properties and could have a material adverse effect on our financial condition.

Our mineral resources described in our most recent S-K 1300 compliant inferred mineral resource report