Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 3

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 3
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 of the financial position, operating results and cash flows for
the periods presented. 

The
accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s audited
consolidated financial statements for the year ended December 31, 2024. The interim period results do not necessary indicate the results
that may be expected for any other interim period or for the full fiscal year. 

 (b) Basis of Preparation 

These
unaudited condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by the
revaluation of any financial assets and financial liabilities where applicable. The preparation of these unaudited condensed interim
consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the
reporting periods. Actual results could differ materially from those estimates. The Company assessed certain accounting matters that
generally require consideration of forecasted financial information in context with the information reasonably available to the Company
as of June 30, 2025, and through the date of this report filing.

Operating
segments are reported in a manner consistent with the internal reporting provided to executive management. The Company determined that
it has one reportable operating segment being that of the acquisition, exploration and evaluation of mineral properties in three geographic
segments, which are Canada, Barbados and Botswana (Note 13).

The
Company’s presentation currency is Canadian dollars. Reference herein of $ or CAD is to Canadian dollars, US$ or USD is to United
States dollars, and BWP is to Botswana pula.

    11

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2025 and 2024

(Expressed in Canadian dollars)

The
significant accounting policies used in the preparation of these unaudited condensed interim consolidated financial statements are consistent
with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2024. Except
as described in Note 2(e) and (f), there were no changes in significant accounting policies during the three and six months ended June
30, 2025.

 (c) Reclassification

Certain
comparative figures on the unaudited condensed interim consolidated balance sheets, unaudited condensed interim consolidated statements