Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 186

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 186
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 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, increased by $8,439,102 compared to the prior year
comparable period resulting from: (i) an increase in general exploration expenses as the Company executed on its expansionary
drilling, metallurgical flowsheet development, and other studies and evaluation work in the current year period; 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 nine
months ended September 30, 2025, increased by $555,260 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