SCHEDULE: Major Shareholder Reduces Stake in Texas Mineral Resources

Navajo Transitional Energy Company and its affiliates have reduced their beneficial ownership in Texas Mineral Resources Corp. to approximately 12% after selling 750,000 shares.

Summary

• Navajo Transitional Energy Company, LLC (NTEC), along with LaVern K. Lund and Peter Denetclaw, Jr., filed an Amendment No. 4 to their Schedule 13D, reporting a reduction in their aggregate beneficial ownership of Texas Mineral Resources Corp. common stock.
• NTEC sold a total of 750,000 shares of common stock in open market brokerage transactions between October 28, 2025, and October 30, 2025.
• The sales occurred at prices ranging from $1.0385 to $1.3080 per share.
• Following these transactions, the aggregate beneficial ownership reported by the group is 9,701,257 shares, constituting approximately 12% of the Issuer's currently outstanding common stock.
• As of November 25, 2025, there were 81,335,813 shares of common stock outstanding, as reported in the Issuer's Annual Report on Form 10-K for the fiscal year ended August 31, 2025.
• NTEC now beneficially owns 9,361,883 shares (11.5%), LaVern K. Lund 9,537,968 shares (11.7%), and Peter Denetclaw, Jr. 9,525,172 shares (11.7%).

Sentiment

Score: 3

Explanation: The sale of a substantial block of shares by a significant institutional investor, Navajo Transitional Energy Company, suggests a reduction in their commitment or a strategic divestment. The declining prices at which the shares were sold could indicate market weakness or a lack of strong buying interest, which is typically viewed negatively by investors.

Negatives

• A significant institutional shareholder, Navajo Transitional Energy Company, sold 750,000 shares, which could signal a lack of confidence or a strategic shift away from the investment in Texas Mineral Resources Corp.
• The sales occurred at declining prices over three consecutive days, from $1.3080 per share on October 28, 2025, to $1.0385 per share on October 30, 2025, potentially indicating downward pressure on the stock during the selling period.

Risks

• The reduction in ownership by a major institutional investor could be perceived negatively by the market, potentially leading to increased selling pressure or a decline in investor confidence in Texas Mineral Resources Corp.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Industry Context

This filing primarily concerns a change in beneficial ownership by a specific institutional investor and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Existing shareholders may experience downward pressure on the stock price due to the increased supply from the sale and potential negative sentiment from a major holder reducing its stake.
• Management: Management of Texas Mineral Resources Corp. might face questions regarding the reasons for the major shareholder's divestment.

Key Dates

Recommendation

The divestment of a significant block of shares by a major institutional investor like Navajo Transitional Energy Company, especially when executed at progressively lower prices over a short period, typically signals a lack of confidence or a strategic exit. This action can create downward pressure on the stock and erode investor sentiment. For a seasoned investor, this would likely be interpreted as a negative indicator, suggesting a potential "sell" or "reduce position" recommendation, particularly if there are no other strong positive catalysts to counteract this selling pressure.

Keywords

Texas Mineral Resources Corp., TMRC, Navajo Transitional Energy Company, NTEC, Schedule 13D/A, Beneficial ownership, Share sale, Institutional investor, Common stock, SEC filing