Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 57

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 57
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5 and March 31, 2024:

    Three months ended March 31, 

    2025   
    2024 

    $  
    $ 
  
    EXPENSES 

    General exploration expenses 
     6,135,777  
     6,714,459 
  
    Depreciation and amortization 
     635,828  
     364,228 
  
    General and administrative expenses 
     1,660,382  
     1,197,700 
  
    Investor relations and communications 
     209,398  
     74,704 
  
    DSUs granted 
     -  
     281,249 
  
    Fair value movement of DSUs 
     (10,824) 
     (226,602)
  
    Net foreign exchange loss 
     251,425  
     66,014 
  
    LOSS FOR THE PERIOD BEFORE OTHER ITEMS 
     8,881,986  
     8,471,752 

    Interest (income) expense, net 
     (64,461) 
     115,318 
  
    Interest expense and accretion on Term Loan 
     428,371  
     760,110 
  
    Loss on Term Loan extinguishment 
     5,982,434  
     - 
  
    NET LOSS FOR THE PERIOD 
     15,228,330  
     9,347,180 

    ●
    General exploration expenses decreased by $578,682 for the three months ended March 31, 2025 as the Company put drilling activities on hold mid-February 2025 through to the end of the quarter to conserve cash. 

    ●
    Depreciation increased $271,600 for the three months ended March 31, 2025 due to the acceleration of depreciation on certain software assets.

    ●
    General and administrative expenses increased by $462,682 for the three months ended March 31, 2025. The Company granted 5,750,000 stock options during the current quarter which vested as to one-half on the date of grant and the balance vesting on the first anniversary of the date of grant. There were no stock options granted during the prior year comparable period.

    ●
    DSUs granted, net of fair value movement, or deferred share units, represents the Company’s long