Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 17

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 17
---
318,343  
     8,846,821 

    Impairment loss - Phikwe South and Southeast Extension 
     (501,497) 
     -  
     (501,497)
  
    Foreign currency translation 
     121,752  
     4,690  
     126,442 
  
    Balance, September 30, 2025 
     8,148,733  
     323,033  
     8,471,766 
  
    Balance 
     8,148,733  
     323,033  
     8,471,766 

The
following is a description of the Company’s exploration and evaluation assets and the related spending commitments:

Botswana
Assets - Selebi and Selkirk

In
September 2021, the Company executed the Selebi Asset Purchase Agreement (“Selebi APA”) with the BCL Limited (“BCL”)
liquidator to acquire the Selebi Mines formerly operated by BCL. In January 2022, the Company closed the transaction and ownership of
the Selebi Mines transferred to the Company.

Pursuant
to the Selebi APA, the aggregate purchase price payable to the seller for the Selebi Mines shall be the sum of $78,652,330 (US$56,750,000),
which amount shall be paid in three instalments:

    ●
    $2,086,830 (US$1,750,000)
    payable on the closing date. This payment has been made. The Company also made care and maintenance funding contributions in respect
    of the Selebi Mines from March 22, 2021, to the closing date of $6,164,688 (US$5,178,747). 

    ●
    $34,802,500 (US$25,000,000)
    payable upon the approval by the Botswana Ministry of Mineral Resources, Green Technology and Energy Security (“MMRGTES”)
    of the Company’s Section 42 and Section 43 applications (for the further extension of the mining license and amendment of mining
    programme, respectively) which are to be submitted in March 2026 and require a compliant economic study.

    ●
    $41,763,000 (US$30,000,000)
    payable on the completion of mine construction and production start-up (commissioning) by the Company, but not later than four years