Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 90

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 90
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IFICANT ACCOUNTING POLICIES 

(a)
Statement of Compliance

These
unaudited condensed interim consolidated financial statements reflect the accounts of the Company and have been prepared in accordance
with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information
and in accordance with the instructions in Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission (the
“SEC”).

Certain
information or footnote disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed
or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the
information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion
of management, the accompanying unaudited condensed interim consolidated financial statements include all adjustments, consisting of
a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for
the periods presented.

The
accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s
audited consolidated financial statements for the year ended December 31, 2024. The interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year.

(b)
Basis of Preparation 

These
unaudited condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by
the revaluation of any financial assets and financial liabilities where applicable. The preparation of these unaudited condensed
interim consolidated financial statements in accordance with US GAAP for interim financial information requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and
the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those
estimates. The Company assessed certain accounting matters that generally require consideration of forecasted financial information
in context with the information reasonably available to the Company as of September 30, 2025, and through the date of this Report
filing.

Operating
segments are reported in a manner consistent with the internal reporting provided to executive management. The Company determined that
it has one reportable operating segment being that of the acquisition, exploration and evaluation of mineral properties in three geographic
segments, which are Canada, Barbados and Botswana (Note 14).

The
Company’s presentation currency is