Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 50

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 50
---
.00 = BWP 13.4763).
“This quarter” or “the quarter” means the third quarter (“Q3”) of 2025.

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The
following management’s discussion and analysis (this “MD&A”) of our financial condition and results of operation
should be read in conjunction with the unaudited condensed interim consolidated financial statements of the Company and accompanying
notes thereto for the quarters ended September 30, 2025, and 2024 (the “Quarterly Financial Statements”) appearing
elsewhere in this Report. This discussion and analysis below includes forward-looking statements within the meaning of applicable securities
laws that are subject to risks, uncertainties and other factors described in the “Risk Factors” section in Part
II, Item 1A of this Report that could cause actual results to differ materially from those anticipated in these forward-looking
statements as a result of various factors. Additionally, our historical results are not necessarily indicative of the results that may
be expected for any period in the future. We caution you to read the “Cautionary Note Regarding Forward-Looking Statements”
section of this Report.

In
this MD&A, unless the context otherwise requires, references to “the Company” or “NEXM” refer to NexMetals
Mining Corp. and its consolidated subsidiaries. All monetary amounts in the discussion are expressed in Canadian dollars unless otherwise
indicated.

Company
Overview

NEXM
is a mineral exploration and development company focused on the discovery and advancement of high-quality copper-nickel-cobalt-platinum
group elements (“Cu-Ni-Co-PGE”) resources. The principal assets of the Company are the Selebi Main and Selebi North
copper-nickel-cobalt (“Cu-Ni-Co”) mines in Botswana and related infrastructure (together, the “Selebi Mines”),
as well as the Cu-Ni-Co-PGE Selkirk mine in Botswana, together with associated infrastructure and four surrounding prospecting licenses
(collectively, the “Selkirk Mine” and together with the Selebi Mines, the “Mines”). NEXM is committed
to governance through transparency, accountability, and open communication among NEXM’s team and stakeholders.

The
Company’s principal business activity is the exploration and evaluation of the Mines. The Selebi and Selkirk Mines are permitted
with 10-year mining licences, granted in 2022