Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 147

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 147
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 30, 2025, is also attributable to higher share-based compensation
expense, reflecting the grant of 287,500 Options and 158,750 RSUs in March 2025.

    ●
    Investor
    relations and communications increased by $1,641,848 and $3,625,201 for the three and nine months ended September 30, 2025,
    respectively, a result of the effort to create market awareness about the Company’s new branding, strategic direction and
    related activities at the Mines, and creating U.S. market awareness of the Company’s Nasdaq listing. The Company incurred costs attending conferences, meeting with investors and engaging investor and
    communication services. The increase in spend was the result of a planned expansion of additional marketing strategies in the second
    and third quarter of 2025.

    ●
    Director fees decreased
    by $211,554 and $528,351 for the three and nine months ended September 30, 2025, respectively, primarily due to amendments to the
    Company’s board compensation plan in 2025 that reduced overall director remuneration. Additionally, only the cash retainer
    portion of the 2025 director fees has been paid to date, with the issuance of DSUs expected in the fourth quarter of 2025.

    ●
    Fair value movement
    of DSUs reflects mark-to-market adjustments to the DSU liability arising from changes in the Company’s Common Share price.
    Fair value gains reflect a decrease in the Common Share price during the reporting period.

    ●
    Interest income and
    expense represents interest earned on cash and cash equivalent deposits and interest incurred on the Company’s vehicle
    financing, mortgage payable, and previous lease liabilities. Net interest income increased by $56,993 and $325,709 for the three
    and nine months ended September 30, 2025, respectively. The increase was primarily driven by higher interest income from increased
    cash balances. In addition, interest expense was lower in 2025 as the final instalments on the drilling equipment and Syringa Lodge
    leases were paid in Q2 2024 and Q4 2024, respectively, eliminating related lease interest charges in the current periods.

    ●
    Interest expense and
    accretion on Term Loan comprises accrued interest on the Company’s now-extinguished Term Loan (see “Liquidity
    & Capital Resources – Financings” below), as