Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 148

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 148
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 well as the accretion of related transaction costs and fees. The
    decrease of $786,723 and $1,888,807 for the three and nine months ended September 30, 2025, respectively, relates to the conversion
    of the Term Loan to equity during the first quarter of 2025.

    ●
    Impairment loss relates to care and maintenance costs incurred during the 2023 evaluation period of the Phikwe
    South and Southeast Extension deposits. These costs had previously been capitalized as part of the Selebi Mines acquisition cost.
    Following the Company’s decision not to pursue the acquisition of these deposits, the Company has determined that the carrying
    amount of these costs is no longer recoverable and has therefore recognized an impairment loss.

    ●
    Loss on Term Loan extinguishment
    represents the difference between the fair value of the Settlement Units (defined in “Liquidity & Capital Resources
    – Financings”) issued and the carrying amount of the Term Loan on the date it was converted to equity.

38

Cash
Flows

The
following table summarizes the Company’s cash flows:

    Nine months ended September 30, 

    2025 $  
    2024 $ 
  
    Cash flows 

    Operating activities 
     (35,106,741) 
     (26,667,639)
  
    Investing activities 
     (1,681,110) 
     (1,125,850)
  
    Financing activities 
     45,109,552  
     26,136,270 
  
    Increase (decrease) in cash and cash equivalents before effects of exchange rate changes 
     8,321,701  
     (1,657,219)
  
    Effect of exchange rate changes on cash and cash equivalents 
     (309,791) 
     (230,032)
  
    Change in cash and cash equivalents for the period 
     8,011,910  
     (1,887,251)
  
    Cash and cash equivalents at the beginning of the period 
     6,105,933  
     19,245,628 
  
    Cash and cash equivalents at the end of the period 
     14,117,843  
     17,358,377 

Operating
Activities

Net
cash used in operating activities for the nine months ended September 30, 2025