Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Risks Relating to the Company Generally: New Business. The Company is subject to all of the business risks and uncertainties associated with any new business enterprise, including the risk that the Company will not achieve its financial objectives as estimated by management.
• Sector Specific Investment Risks: The Company is exposed to investment risks relating to natural resources, which is generally more volatile than the overall market.
• Commodity Prices: Decreases in the market price of such commodities could have an adverse effect on the Company’s business, financial condition, results of operations and share price.
• Uncertainty of Estimates: Resource and reserve estimates of minerals are inherently imprecise and depend to some extent on statistical inferences drawn from limited drilling, which may prove unreliable.
• The Mining Industry Is Highly Speculative: The Company has made and plans to make investment in mining companies that conduct exploration and development of natural resources which involves a high degree of geological, technical and economic uncertainty because of the inability to predict future natural resources’ prices, as well as the difficulty of determining the extent of a natural resources deposit and the feasibility of its extraction without incurring considerable expenditures.
• Price Volatility: Securities of natural resource companies have experienced substantial volatility in the past, often based on factors unrelated to the financial performance or prospects of the companies involved.
• Fluctuations in the Value of the Company and the Common Shares: The net asset value of the Company and market value of its common shares will fluctuate with changes in the market value of the Company’s investments.
• Due Diligence: The due diligence process undertaken by the Company in connection with investments that it makes or wishes to make may not reveal all relevant facts in connection with an investment.
• Ability to Secure Adequate Financing: There are no assurances the Company will be able to secure additional funding on acceptable terms or at all as debt and equity markets can be impacted by market conditions.
• Foreign Investment: Foreign investments made by the Company in specific sectors such as natural resource, industrial or technology may be subject to political risks, risks associated with changes in foreign exchange rates, foreign exchange control risks and other similar risks.
• Private Companies and Illiquid Securities: The Company invests or may invest in securities of private companies. In some cases, the Company may be restricted by contract or by applicable securities laws from selling such securities for a period of time.
• Lack of Control or significant influence over Companies in which the Company Invests: These investments will be subject to the risk that the company in which the investment is made may make business, financial or management decisions with which the Company does not agree or that the majority stakeholders or management of the company may take risks or otherwise act in a manner that does not serve the Company’s interests.
• Lack of Diversification: From time to time, the Company may have only a limited number of investments and, as a result, the performance of the Company may be adversely affected by the unfavourable performance of one investment or project.
• Reliance on Directors, Management and Other Key Personnel: The Company’s success depends in part on its ability to attract and retain senior management and other key employees.
• Transaction and Legal Risks: The Company may be exposed to transaction and legal risks, including potential liability under securities laws or other laws and disputes over the terms and conditions of investment arrangements.
• Potential Conflicts of Interest: Certain members of the Board and officers of the Company also serve as officers or directors of other companies.
• Cybersecurity Risks and Threats: It is possible that the business, financial and other systems of the Company or the companies in which it has invested could be compromised, which might not be noticed for some period of time.
• Risks Related to Minco Silver’s mineral properties located in China: The following risk factors are associated with the mineral properties owned by Minco Silver in China that may impact the value of the Company’s equity ownership in Minco Silver:
• Title to Properties: There can be no assurance that any governmental authority in China could not significantly alter the conditions of, or revoke the applicable exploration or mining authorizations held by Minco Silver, or that Minco Silver’s interest in such properties will not be challenged or impugned by third parties or governmental authorities.
• China Political and Economic Considerations: A change in policies by China could adversely affect the Company’s or Minco Silver’s interests in China by changing laws, regulations or the interpretation thereof, confiscatory taxation, restrictions on currency conversion, imports and sources of supplies or the expropriation of private enterprises.
• Chinese Legal System and Enforcement: The outcome of any litigation may be more uncertain than usual because: (i) the experience of Chinese judiciary in the industry in which we operate is relatively limited, and (ii) the interpretation of Chinese laws may be subject to policy changes reflecting domestic political changes.
• Government Regulation of Mineral Resources and Ownership: Failure or delays in obtaining necessary approvals could have a material adverse effect on the financial condition and results of operations of the Company.
• Future Financing and Dilution: There is no assurance that additional funding will be available to Minco Silver for further exploration and development of its current and future projects in order for Minco Silver to achieve its long-term objectives.
• Environmental Considerations: There is a risk that permission to conduct exploration and development activities could be withdrawn temporarily or permanently where there is evidence of serious breaches of such standards.

Mitigation Strategies

• The smaller use of cash reflects management’s efforts in controlling the operating costs of the Company.
• The Company believes there is sufficient working capital available to meet its current operational requirements.
• The Company does not have plans to raise further capital in the next twelve months.
• Matters between the Company and Minco Silver which put any of the directors or officers of the Company in a position of conflict are approved by the audit committee of the Board, which is comprised solely of independent directors.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: PricewaterhouseCoopers LLP