Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 95

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 95
---
 252,023 

    Botswana  

    Selebi $  
    Selkirk $  
    Total $ 

    Balance, December 31, 2023 
     8,285,523  
     309,275  
     8,594,798 
  
    Foreign currency translation 
     242,955  
     9,068  
     252,023 
  
    Balance, December 31, 2024 
     8,528,478  
     318,343  
     8,846,821 
  
    Balance 
     8,528,478  
     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