Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 184

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 184
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5,982,434  
     - 
  
    NET LOSS FOR THE PERIOD 
     16,004,468  
     12,004,960  
     46,321,544  
     31,145,332 

    ●
    General exploration
    expenses increased by $2,029,893 and $5,194,031 for the three and nine months ended September 30, 2025, respectively, as the
    Company advanced its new strategic direction aimed at rapidly demonstrating the size potential of the Mines through expansionary
    drilling, metallurgical flowsheet development, and other studies and evaluation work. For more information relating to the activities,
    see “Exploration and Evaluation Activities and Mineral Properties”.

    ●
    Depreciation
    increased by $139,740 and $472,988 for the three and nine months ended September 30, 2025, respectively, due to significant
    property, plant and equipment acquisitions over the past twelve months. Depreciation for the nine months ended September 30, 2025,
    also includes the acceleration of depreciation on certain software assets.

37

    ●
    General
and administrative expenses increased by $894,641 and $1,537,077 for the three and nine months ended September 30, 2025, respectively.
During Q3 2025, the Company incurred $728,611 in severance and transition costs related to the departure of the Company’s former
Chief Financial Officer. The increase for the nine months ended September 30, 2025, is also attributable to higher share-based compensation
expense, reflecting the grant of 287,500 Options and 158,750 RSUs in March 2025.

    ●
    Investor
    relations and communications increased by $1,641,848 and $3,625,201 for the three and nine months ended September 30, 2025,
    respectively, a result of the effort to create market awareness about the Company’s new branding, strategic direction and
    related activities at the Mines, and creating U.S. market awareness of the Company’s Nasdaq listing. The Company incurred costs attending conferences, meeting with investors and engaging investor and
    communication services. The increase in spend was the result of a planned expansion of additional marketing strategies in the second
    and third quarter of 2025.

    ●
    Director fees decreased
    by $211,554 and $528,