Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 52

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 52
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140,372 

    ●
    General
    exploration expenses increased by $3,742,820 and $3,164,138 for the three and six months ended June 30, 2025, respectively, as
    the Company ramped up drilling, studies and other evaluation work during the second quarter of 2025 at both the Selebi Mines and
    Selkirk Mine, aimed at rapidly demonstrating the size potential of the Mines.

    ●
    Depreciation
    increased by $61,648 and $333,248 for the three and six months ended June 30, 2025, respectively, due to significant property, plant
    and equipment acquisitions over the past twelve months. Depreciation for the six months ended June 30, 2025 also includes the acceleration
    of depreciation on certain software assets.

    ●
    General
    and administrative expenses increased by $179,754 and $642,436 for the three and six months ended June 30, 2025, respectively,
    due to higher share-based compensation expense. The Company granted 287,500 Options and 158,750 RSUs in March 2025, and a further 11,500 Options in April 2025. There were no
    Options or RSUs granted during the prior year comparable periods.

    ●
    Investor
    relations and communications increased by $1,848,659 and $1,983,353 for the three and six months ended June 30, 2025, respectively,
    a result of the effort to create market awareness about the Company’s new strategic direction and related activities at the
    Mines. The Company incurred costs attending conferences, meeting with investors and engaging investor and communication services.
    The increase in spend was the result of a planned expansion of additional marketing strategies in the quarter.

    ●
    Director
    fees decreased by $35,548 and $316,797 for the three and six months ended June 30, 2025, respectively, primarily due to amendments
    to the Company’s board compensation plan in 2025 that reduced overall director remuneration. Additionally, only the cash retainer
    portion of the 2025 director fees has been paid to date, with the issuance of DSUs expected later in 2025.

    ●
    Fair value movement of DSUs increased by $473,673
    and $689,451 for the three and six months ended June 30,