Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 51

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 51
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,192, largely due to an increase in general exploration expenses of $3,742,820 and an increase in investor relations and communications
of $1,848,659. The net loss of $30,317,076 for the six months ended June 30, 2025 was higher by $11,176,704 compared to the prior year
comparable period of $19,140,372, largely due to the loss on the Term Loan extinguishment of $5,982,434, an increase in general exploration
expenses of $3,164,138 and an increase in investor relations and communications of $1,983,353.

Total
Assets

Total
assets as at June 30, 2025 increased by $22,100,405 from the December 31, 2024 balance largely as a result of higher cash balances at
June 30, 2025. In March 2025, the Company closed a Private Placement for aggregate gross proceeds of $46,000,000 (see “Liquidity
& Capital Resources — Financings”).

Current
Liabilities

Current
liabilities as at June 30, 2025 increased by $1,288,277 from December 31, 2024 largely due to an increase in trade payables and accrued
liabilities of $918,936 as the Company ramped up exploration and evaluation activities in the second quarter of 2025.

36

Overall
Performance and Results of Operations

As
at the date of this Report, the Company has not earned revenue nor proved the economic viability of its projects. The Company’s
expenses are not subject to seasonal fluctuations or general trends other than factors affecting costs such as inflation and input prices.
The Company’s expenses and cash requirements will fluctuate from period to period depending on the level of activity at the projects,
which may be influenced by the Company’s ability to raise capital to fund these activities. Comparisons of activity made between
periods should be viewed with this in mind. The Company’s quarterly results may be affected by many factors such as timing of exploration
activity, share-based compensation costs, capital raised, marketing activities and other factors that affect the Company’s exploration
and evaluation activities.

The
following table summarizes the Company’s operations for the three- and six-month periods ended June 30, 2025 and June 30, 2024:

    Three
                                            months ended
                                                                                June
                                            30,  
    Six
                                            months