Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 305

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 305
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the Term Loan of $1,434,306.

Total
Assets

Total
assets as at December 31, 2024, decreased by $13,020,736 from the December 31, 2023, balance as a result of lower cash balances in the
current period.

Current
Liabilities

Current
liabilities as at December 31, 2024, decreased by $1,236,107 from December 31, 2023, due to a decrease in lease liabilities resulting from
the repayment of principal and interest on the Syringa Lodge and drilling equipment leases.

Overall
Performance and Results of Operations

As
at the date of this Report, the Company has not earned revenue nor proved the economic viability of its projects. The Company’s
expenses are not subject to seasonal fluctuations or general trends other than factors affecting costs such as inflation and input prices.
The Company’s expenses and cash requirements will fluctuate from period to period depending on the level of activity at the projects,
which may be influenced by the Company’s ability to raise capital to fund these activities. Comparisons of activity made between
periods should be viewed with this in mind. The Company’s quarterly results may be affected by many factors such as timing of exploration
activity, share-based compensation costs, capital raised, marketing activities and other factors that affect the Company’s exploration
and evaluation activities.

-24-

The
following table summarizes the Company’s Operations for the three-month and twelve-month periods ended December 31, 2024, and December
31, 2023:

    Three months ended December 31,  
    Year ended December 31, 

    2024 $  
    2023
$  
    2024 $  
    2023
$ 

    EXPENSES 

    General exploration expenses 
     7,714,199  
     6,903,046  
     29,651,360  
     22,863,740 
  
    Depreciation and amortization 
     492,787  
     503,523  
     1,581,270  
     744,783 
  
    General and administrative expenses 
     2,949,052  
     2,104,114  
     7,980,178  
     5,647,102 
  
    DSUs granted 
     138,113  
     234