Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 12

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 12
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 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 Canadian dollars. Reference herein of $ or CAD is to Canadian dollars, US$ or USD is to United
States dollars, and BWP is to Botswana pula.

The
significant accounting policies used in the preparation of these unaudited condensed interim consolidated financial statements are consistent
with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2024. Except
as described in Note 2(f) and (g), there were no changes in significant accounting policies during the three and nine months ended September
30, 2025.

(c)
Reclassification

Certain
comparative figures on the unaudited condensed interim consolidated balance sheets