Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 154

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 154
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 any time within the first nine months immediately
following the first anniversary of sale of product and not less than 60 days prior to the date of exercise of the buyback right; and
(iv) to require PNRP and/or PNGP to repurchase the option from Cymbria for an amount equal to the option price at any time commencing
on the first anniversary of sale of product, provided PNRP and/or PNGP have not provided a buyback exercise notice or notice of any termination,
settlement or waiver of the buyback right or royalty agreement to Cymbria.

41

Contingencies

There
are no environmental liabilities associated with the Mines as at the acquisition dates as all liabilities incurred prior to the acquisitions
are the responsibility of the sellers, BCL and Tati Nickel Mining Company (“TNMC”). The Company has an obligation
for the rehabilitation costs arising subsequent to the acquisitions. As of September 30, 2025, there were no material rehabilitation
costs for which the Company expects to incur, and management is not aware of or anticipating any contingent liabilities that could impact
the financial position or performance of the Company related to its exploration and evaluation assets.

The
Company’s exploration and evaluation assets are affected by the laws and environmental regulations that exist in the various jurisdictions
in which the Company operates. It is not possible to estimate any future contingent liabilities and the impact on the Company’s
operating results due to future changes in the Company’s development of its projects or future changes in such laws and environmental
regulations.

Segmented
Disclosure 

The
Company operates in one reportable operating segment, being that of the acquisition, exploration and evaluation of mineral properties,
in three geographic segments, being Canada, Barbados, and Botswana. The Company’s geographic segments are as follows:

    September 30, 2025 $  
    December 31, 2024 $ 
  
    Current assets 

    Canada 
     10,939,252  
     4,066,121 
  
    Barbados 
     471,513  
     89,446 
  
    Botswana 
     5,093,943  
     3,462,676 
  
    Total 
     16,504,708  
     7,618,243 

    Exploration and evaluation assets 

    Botswana 
     8,471,766  
     8,846,821 
  
    Property, plant and equipment