Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 54

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 54
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(41,642)
  
    Change in cash and cash equivalents for the period 
     20,358,024  
     8,835,889 
  
    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 
     26,463,957  
     28,081,517 

Operating
Activities

Net
cash used in operating activities for the six months ended June 30, 2025 increased by $5,006,299 compared to the prior year comparable
period resulting from: (i) an increase in general exploration expenses as the Company ramped up drilling, studies and other evaluation
work during the second quarter of 2025 at both the Selebi Mines and Selkirk Mine; and (ii) an increase in investor relations and communications
expenditures in an effort to create market awareness about the Company’s new strategic direction and related activities at the
Mines.

Investing
Activities

Key
investing activities relate to the acquisition of property, plant and equipment. Net cash used in investing activities for the six months
ended June 30, 2025 increased by $389,542 compared to the prior year comparable period. The higher spending in 2025 primarily relates
to the acquisition of a deep drill for the Selebi Hinge zone, kits for converting two underground U5 drills into surface A5 drills, and
light duty vehicles.

Financing
Activities

Net
cash provided by financing activities for the six months ended June 30, 2025 increased by $17,037,715 compared to the prior year comparable
period. The increase primarily reflects the closing of a Private Placement in March 2025 for gross proceeds of $46,000,000. In the comparative
period, the Company closed a financing in June 2024 for gross proceeds of $27,454,421 (see “Liquidity and Capital Resources
– Financings”).

Liquidity
& Capital Resources

The
Company, being in the exploration and evaluation stage, is subject to risks and challenges similar to companies in a comparable stage
of exploration and evaluation. These risks include the challenges of securing adequate capital for exploration and advancement of the
Company’s material projects, operational risks inherent in the mining industry, and global economic and metal price volatility.
There is no assurance management will be successful in its