Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 53

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 53
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2025, respectively, due to positive mark-to-market adjustments from the
    Company’s higher Common Share price.

    ●
    Interest
    income and expense represents interest earned on cash and cash equivalent deposits and interest incurred on the Company’s
    vehicle financing and previous lease liabilities. Net interest income increased by $88,936 and $269,716 for the three and six months
    ended June 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 well as the accretion of related transaction costs and fees. The
    decrease of $770,345 and $1,102,084 for the three and six months ended June 30, 2025, respectively, relates to the conversion of
    the Term Loan to equity during the first quarter of 2025.

    ●
    Loss
    on Term Loan extinguishment represents the difference between the fair value of the Settlement Units (defined in “Liquidity
    & Capital Resources – Financings”) issued and the carrying amount of the Term Loan on the date it was converted
    to equity.

37

Cash
Flows

The
following table summarizes the Company’s cash flows:

    Six months ended
                                                                                June 30, 

    2025 $  
    2024 $ 
  
    Cash flows 

    Operating activities 
     (21,685,611) 
     (16,679,312)
  
    Investing activities 
     (1,510,130) 
     (1,120,588)
  
    Financing activities 
     43,715,146  
     26,677,431 
  
    Increase (decrease) in cash and cash equivalents before effects of exchange rate changes 
     20,519,405  
     8,877,531 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (161,381)