Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 30

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 30
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 2024  
    December 31, 2023  
    December 31, 2022 
  
    Additional paid-in capital 
     145,025,333  
     116,069,973  
     77,302,736 
  
    Common Shares outstanding 
     185,708,588  
     149,300,920  
     116,521,343 
  
    Total assets 
     24,953,469  
     37,974,205  
     18,411,643 
  
    Current liabilities 
     4,655,182  
     5,891,289  
     12,462,372 

Net
Loss

The net loss of $42,420,283 for the year ended December
31, 2024, was higher by $10,044,214 compared to the prior year net loss of $32,376,069, largely due to increased exploration activities
of $6,787,620 relating to the Botswana assets, an increase of $2,333,076 in general and administrative expenses related to share-based
compensation and the retirement of the Company’s former Chief Executive Officer, and the higher interest expense and accretion on
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