NexMetals Mining Corp(NEXM)
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NexMetals Announces Filing of Final Short Form Prospectus
Newsfile· 2025-11-13 00:58
Core Points - NexMetals Mining Corp. has filed a final short form prospectus for a public offering of up to 14,035,100 units at a price of $5.70 per unit, aiming for gross proceeds of up to $80,000,070 [1][2] - The closing of the offering is anticipated to occur on November 17, 2025, with conditional approval from the TSX Venture Exchange [2] - The final prospectus is accessible on SEDAR+ and can be obtained from SCP Resource Finance LP [3] Company Overview - NexMetals Mining Corp. is focused on the redevelopment of previously producing copper, nickel, and cobalt mines in Botswana [5] - The company emphasizes governance through transparent accountability and has a team with extensive experience in mine discovery and development [6]
NexMetals Announces Upsizing of Public Offering to $80 Million
Newsfile· 2025-10-30 13:25
Core Viewpoint - NexMetals Mining Corp. has increased the size of its public offering from C$65 million to C$80 million due to strong demand from institutional investors, marking the second upsizing of the offering [1][3]. Offering Details - The offering will consist of up to 14,035,100 Units, with no over-allotment option available [3]. - Agents will receive a cash fee of 6% of the gross proceeds, with a reduced fee of 2% for sales to certain individuals on a "president's list" for gross proceeds up to C$7 million [3]. - Each Unit will include one common share and one common share purchase warrant, allowing the holder to acquire one common share at a price of C$8.00 for 24 months following issuance [3]. Use of Proceeds - The net proceeds from the offering are intended for the prepayment of the first contingent milestone payment under the Asset Purchase Agreement for the Selebi and Selkirk mines, exploration and development activities in Botswana, and general corporate purposes [4]. Closing Timeline - The offering is expected to close on or about November 13, 2025, pending necessary approvals [5]. Company Overview - NexMetals Mining Corp. focuses on the redevelopment of previously producing copper, nickel, and cobalt resources in Botswana [7]. - The company's team has extensive experience in mine discovery and development, with senior members averaging over 20 years in the industry [9].
NexMetals Step-Out Holes at Selebi North Validate Down-Plunge Continuity
Thenewswire· 2025-10-09 12:30
Core Insights - NexMetals Mining has confirmed significant mineralization at Selebi North, with a 32.60-meter continuous mineralization interval, including 19.90 meters of massive sulphide [1][8][22] Company Overview - NexMetals Mining owns two previously producing Cu-Ni-Co mines in Botswana, a mineral-rich Tier 1 mining jurisdiction [2] - The Selebi mining complex has a history of production, with operations running for over four decades and a capacity of up to 10,000 tonnes per day [2] Recent Developments - The recent drilling results at Selebi North validate the continuity of mineralization and will be incorporated into an updated Mineral Resource Estimate (MRE) [5][22] - The drilling program at Selebi North has been aggressive, with multiple significant results reported over the past six months, including a notable 27.55 meters of 4.97% CuEq [10] Infrastructure and Operations - The Selebi North Mine is equipped with a 3.5-meter diameter shaft and a twin 7° decline trucking ramp, facilitating efficient drilling campaigns [5][6] - The infrastructure supports cost-effective exploration and development activities [6] Market Context - There is a growing demand for critical metals, particularly copper, driven by the green energy transformation, with copper prices increasing by 109% over the last five years [21] - Botswana's government is focusing on diversifying its economy beyond diamonds, with copper production seen as a key area for economic growth [18][19] Future Prospects - The results from the recent drilling will support potential resource expansion at Selebi North, with additional assays pending for further confirmation of mineralization scale and continuity [22]
NexMetals Hits Multiple 200-Meter Intercepts of High-Grade Mineralization at the Selkirk Project in Botswana
Thenewswire· 2025-09-25 12:30
Core Insights - NexMetals Mining (NEXM) has released assay results from two additional drill holes in its metallurgical drilling program at the Selkirk Mine in Botswana, indicating significant mineralization and potential for resource expansion [1][3][8] Company Overview - NexMetals Mining acquired the Selkirk Mine in August 2022 and has been focused on de-risking the project to support future development decisions [3] - The Selkirk Mine is a past-producing copper-nickel-cobalt-platinum group elements mine located in Botswana, 28 kilometers southeast of Francistown [2] Drilling Program Results - The 12-hole drill program aimed to collect samples for metallurgical testing and validate legacy data, with the latest results showing wide intervals of continuous mineralization [3][8] - Notable results include drill hole SMET-25-004, which returned 210.00 meters of 1.06% CuEq, and drill hole SMET-25-001, which showed 45.00 meters of 0.69% CuEq [3][4][8] Mineral Resource Estimate - The current cut-off for the mineral resource estimate (MRE) is set at US$25.00 per tonne net smelter return, translating to 0.46% CuEq, indicating that any material above this cut-off could be mined [7][10] - The technical report revealed inferred mineral resources of 44.2 million tonnes at 0.30% copper, 0.24% nickel, 0.55 g/t palladium, and 0.12 g/t platinum, containing significant quantities of copper and nickel [10] Market Context - The demand for critical metals, particularly copper, has surged due to the green energy transformation, with copper prices increasing by 92% over the last five years [21] - Botswana is looking to diversify its economy beyond diamonds, with copper production being a key focus for economic diversification [18][19] Future Catalysts - Upcoming catalysts for NexMetals Mining include resource expansion, metallurgical results, and optimization efforts, which are expected to unlock the full value and long-term potential of the Selkirk mine [8][16]
[Video Enhanced] NexMetals Metallurgy Results Create a Potentially Quicker and Cheaper Pathway to Production
Thenewswire· 2025-09-11 12:30
Core Viewpoint - NexMetals Mining has achieved a significant metallurgical breakthrough at its Selebi Mines in Botswana, allowing for the production of both copper and nickel concentrates, which may reduce capital expenditures and operational complexities [1][3][4]. Company Overview - NexMetals Mining owns two previously-producing copper-nickel-cobalt mines in Botswana, a Tier 1 mining jurisdiction [1]. - The Selebi Mines were operational from 1980 to 2016, producing 40 million tonnes of ore before being placed in Care & Maintenance due to low metal prices and smelter issues [2]. Metallurgical Breakthrough - The metallurgical program has created the option to produce saleable copper and nickel concentrates without the need for an on-site smelter, leading to significant reductions in capital expenditure and operational complexity [3][4][9]. - Initial recoveries show a copper concentrate with a grade of 27.6% and an 87% recovery rate, while nickel concentrate has a grade of 10.5% with a 55.9% recovery rate [7][8]. Economic Context - The demand for critical metals, particularly copper, has surged due to the green energy transformation, with copper prices increasing by 92% over the last five years, from USD $2.36/lb to $4.50/lb [11]. - Botswana's economy, traditionally reliant on diamond exports, is looking to diversify through copper production, which is seen as a key area for job creation and economic growth [16][17]. Future Prospects - The results from the metallurgical advancements will be incorporated into an updated mineral resource estimate, expected to show significant improvements over previous estimates [19]. - The company has received substantial investment, with a $46 million equity financing round, indicating strong institutional interest in its assets [12].
NexMetals Mining Corp(NEXM) - 2025 Q2 - Quarterly Report
2025-08-13 21:01
Financial Performance - The net loss for the three months ended June 30, 2025, was $15,088,746, an increase of 54% compared to $9,793,192 in the same period of 2024 [188]. - The Company incurred a net loss of $15,088,746 and $30,317,076 for the three and six months ended June 30, 2025, respectively, compared to a net loss of $9,793,192 and $19,140,372 for the same periods in 2024 [211]. - Cash flows from operating activities for the six months ended June 30, 2025, were $(21,685,611), compared to $(16,679,312) in the prior year [195]. - Total expenses for the three months ended June 30, 2025, amounted to $10,337,096, with drilling costs being the largest component at $3,737,718 [229]. - For the six months ended June 30, 2025, total expenses reached $16,472,873, with drilling costs again leading at $4,421,810 [229]. Capital Structure and Financing - The Company completed a significant recapitalization in March 2025, which included a $46.0 million non-brokered equity private placement and the equity conversion of a $20.9 million three-year term loan, successfully deleveraging its balance sheet [134]. - The Company received a non-binding letter of interest from the Export-Import Bank of the United States for potential financing of up to $150 million to support the redevelopment of its Mines [134]. - The Company issued 7,666,667 units in a Private Placement at $6.00 per unit, generating gross proceeds of $46,000,000 [206]. - Working capital increased to $23,875,340 as of June 30, 2025, compared to $3,410,490 at the end of 2024, driven by the cash proceeds from the Private Placement [201]. - The Company has contractual obligations totaling $5,447,045, excluding the second installment under the Selebi APA of $34,107,500 due January 31, 2026 [242][243]. Exploration and Development - The Selkirk Mineral Resource Estimate filed on January 31, 2025, provides a foundation for advancing the Selkirk deposit to an economic study [134]. - The ongoing exploration and development costs for the Selebi Mines and Selkirk drill programs are estimated between $3.3 million to $3.7 million, with completion expected by September 30, 2025 [136]. - The Company is advancing its strategic direction with an aggressive exploration drilling program at the Selebi Mines while finalizing metallurgical work for a future economic study [134]. - The Company has drilled approximately 5,123 metres in 8 holes as part of the Selebi North Underground Resource Expansion Drilling program, with assays for approximately 38,139 metres across 86 completed holes pending [152]. - The ongoing drilling program at the Selebi Hinge is expected to consist of approximately 12,500 metres in 6 holes over an estimated period of 7 months [166]. Resource Estimates - The Company reported a total inferred mineral resource of 24.72 million tonnes at an average grade of 1.50% Ni and 0.92% Cu for the Selebi Mines as of June 30, 2024 [146]. - The South Limb mineralization at Selebi North has been extended by 315 metres down-plunge, representing a 35% increase beyond the 2024 mineral resource estimate [150]. - The Selkirk Mine Mineral Resource Estimate as of November 1, 2024, includes 44.2 million tonnes with grades of 0.30% Cu and 0.24% Ni, containing 132,000 tonnes of Cu and 108,000 tonnes of Ni [171]. Leadership and Governance - The Company appointed new board members and a new CEO in March 2025, indicating a shift in leadership to support its strategic initiatives [134]. - The Company’s common shares began trading on the Nasdaq under the symbol "NEXM" on July 16, 2025, following a consolidation of shares [134]. Cash and Assets - Total assets increased by $22,100,405 to $47,053,874 as of June 30, 2025, primarily due to higher cash balances following a Private Placement of $46,000,000 in March 2025 [189]. - The Company had $26,463,957 in cash and cash equivalents as of June 30, 2025, up from $6,105,933 at the end of 2024 [201]. - The Company's current assets increased to $29,371,370 as of June 30, 2025, up from $7,618,243 as of December 31, 2024 [227]. Risks and Commitments - The Company has not generated profitable operations from its resource activities to date, raising substantial doubt about its ability to continue as a going concern [211]. - The Company is exposed to interest rate risk due to variable interest rates on vehicle financing [237]. - The Company limits credit risk by holding cash and cash equivalents at highly-rated financial institutions [240]. - The Company has an option to cancel the second and third payments for the Selebi Mines if deemed not economical, with no conditions met for these payments as of June 30, 2025 [212]. - As of June 30, 2025, the Company had commitments for capital expenditures over the next 12 months of $7,180, and an aggregate purchase price of US$56,750,000 for the Selebi Mines, payable in three instalments [212].
NexMetals Mining Corp(NEXM) - 2025 Q1 - Quarterly Report
2025-05-13 21:19
Financial Performance - The company incurred a net loss of $15,228,330 for the three months ended March 31, 2025, an increase of $5,881,150 compared to the prior year period, primarily due to a loss on the Term Loan extinguishment of $5,982,434 [199]. - As of March 31, 2025, the Company reported a net loss of $15,228,330, an increase from the net loss of $9,347,180 for the same period in 2024 [219]. - Total expenses for the three months ended March 31, 2025, were $15,228,330, with general exploration expenses decreasing by $578,682 due to a hold on drilling activities [203]. - The Company has not generated revenue and is dependent on external financing to fund its exploration and evaluation activities [209]. - The Company has a net foreign exchange loss of $251,425 for the three months ended March 31, 2025, compared to a loss of $66,014 in the prior year [203]. Capital and Financing - The Company closed a significant recapitalization on March 18, 2025, which included a $46.0 million non-brokered equity private placement and the equity conversion of a $20.9 million three-year term loan [142]. - Total assets as of March 31, 2025, increased by $38,827,996 from December 31, 2024, largely due to higher cash balances, following a Private Placement that raised aggregate gross proceeds of $46,000,000 [200]. - Cash and cash equivalents increased to $45,466,839 as of March 31, 2025, compared to $6,105,933 at the end of 2024 [210]. - Working capital as of March 31, 2025, was $39,434,623, up from $3,410,490 at the end of 2024, primarily due to cash proceeds from the Private Placement [210]. - The Company raised $46,000,000 through a Private Placement during the three months ended March 31, 2025, significantly increasing financing activities compared to the prior year [207]. Exploration and Development - The exploration and development strategy includes ongoing drilling programs at the Selebi Mines and Selkirk, with anticipated costs ranging from $5.9 million to $6.6 million until September 30, 2025 [152]. - The Selkirk Mineral Resource Estimate filed on January 31, 2025, provides a solid foundation for advancing the Selkirk deposit to an economic study [141]. - The Selebi Mines have an Indicated Mineral Resource of 3.00 million tonnes with grades of 0.90% Cu and 0.98% Ni, and an Inferred Mineral Resource of 24.72 million tonnes with grades of 1.50% Cu and 0.92% Ni [162]. - The ongoing Selebi North Underground Resource Expansion Drilling program is expected to continue throughout the year, focusing on further testing of BHEM plates [174]. - The company plans to conduct a surface drilling program at Selkirk in Q2 2025 to support metallurgical test work and an updated MRE through twinning of historic holes [184]. Management and Strategic Initiatives - The Company has strengthened its management team with the appointment of Morgan Lekstrom as the new CEO and the addition of strategic advisors [146]. - The Company is evaluating strategic opportunities to enhance the value of the Selkirk Mine through low-cost initiatives [143]. - The Company is advancing project economics through further metallurgical sampling and testing, with costs anticipated to be between $5.7 million and $6.4 million until September 30, 2025 [152]. - The Company has begun evaluating IDEON Technologies Inc. to apply Muon Tomography for creating 3D density maps of subsurface mineralization at both the Selebi Mines and Selkirk Mine [172]. Risks and Liabilities - The Company is subject to risks related to securing adequate capital for its projects and the volatility of global economic and metal prices [208]. - The Company has no material rehabilitation costs expected as of March 31, 2025, and no contingent liabilities anticipated that could impact financial performance [229]. - The estimated impact of a 5% change in USD and BWP against CAD on net loss before tax is a potential loss of US$125,808 for a +5% change in USD [247]. - The Company's liquidity risk is managed by monitoring cash flows against an annual budget, with total undiscounted contractual obligations amounting to US$7,436,251 as of March 31, 2025 [250]. Share Capital and Structure - The fully diluted share capital of the Company is 644,733,039 shares [252]. - Common Shares outstanding amount to 428,986,474 [252]. - The Company has 188,579,919 Warrants issued [252]. - There are 20,813,771 Stock Options available [252]. - The Company has 4,175,000 Restricted Stock Units (RSUs) outstanding [252]. - Preferred shares total 13,131, with a conversion ratio of 9:1 into Common Shares [252]. - The Company has 2,164,744 Deferred Share Units (DSUs) issued [252]. - The outstanding preferred shares include 118,186 that can be converted into Common Shares [252]. Other Financial Information - The Company has commitments for capital expenditures of $1,062,094 over the next 12 months [220]. - The Company extinguished a $20,882,353 Term Loan by converting it into equity, resulting in a loss on extinguishment of $5,982,434 [211]. - The Company paid interest of US$268,896 for the three months ended March 31, 2025, down from US$519,206 for the same period in 2024 [235]. - Exploration and evaluation expenditures for the Selebi Mines totaled $5,944,153 for the three months ended March 31, 2025, compared to $6,469,929 for the same period in 2024 [173]. - Total expenditures for the Selebi project for the three months ended March 31, 2025, were US$5,994,153, while Selkirk project expenditures were US$101,968 [238].
NexMetals Mining Corp(NEXM) - 2024 Q4 - Annual Report
2025-03-20 00:04
Financial Performance - The net loss for the year ended December 31, 2024, was $42,420,283, an increase of $10,044,214 compared to the prior year, primarily due to increased exploration activities and higher general and administrative expenses [175]. - The Company incurred a net loss of $42,420,283 for the year ended December 31, 2024, compared to a loss of $32,376,069 for the previous year [203]. - Key management compensation for the year ended December 31, 2024, totaled $5,940,139, an increase from $4,917,472 in 2023 [217]. - The Company paid interest of $2,082,830 for the year ended December 31, 2024, compared to $793,392 in 2023, indicating a significant increase in financing costs [220]. Exploration and Development Activities - General exploration expenses rose by $6,787,620 for the year ended December 31, 2024, reflecting a ramp-up in drilling and related activities [180]. - The total general exploration expenses for the year ended December 31, 2024, amounted to $29,651,360, with drilling expenses alone accounting for $6,703,402 [222]. - The Company has not generated revenue and is reliant on external financing to fund its exploration and evaluation activities [188]. - The exploration and evaluation assets in Botswana increased from $8,594,798 in 2023 to $8,846,821 in 2024, suggesting ongoing investment in this geographic segment [221]. - Management conducts periodic reviews of exploration and evaluation assets to assess potential impairment, which may affect future financial statements [234]. Cash and Financing - Cash and cash equivalents at the end of the period were $6,105,933, down from $19,245,628 at the end of 2023 [189]. - Net cash used in operating activities increased by $8,136,574 in 2024 compared to 2023, driven by increased exploration and development activities [183]. - The company closed private placements for gross proceeds of approximately $27.5 million in 2024, a decrease of $24,791,702 compared to the previous year [185]. - Working capital as of December 31, 2024, was $2,963,061, a significant decrease from $14,787,484 at the end of 2023 [189]. - The Company has a Term Loan outstanding of $20,882,353, bearing interest at 10% per annum, maturing on June 28, 2026 [213]. - The carrying value of the Term Loan as of December 31, 2024, is $18,983,212, with a fair value of $20,862,478, reflecting a significant difference due to market conditions [225]. - The Company has contractual obligations totaling US$56,750,000 for the purchase of the Selebi Mines, payable in three instalments [204]. Shareholder and Equity Information - As of December 31, 2024, EdgePoint beneficially owns approximately 12.8% of the issued and outstanding Common Shares, which increases to 18.8% on a partially-diluted basis [218]. - The Company issued 153,333,334 units at $0.30 per unit for gross proceeds of approximately $46 million in March 2025 [191]. - The Company closed the first tranche of the June 2024 Financing, issuing 19,234,614 Units at $0.78 per Unit for gross proceeds of $15,002,999 [196]. - The second tranche of the June 2024 Financing raised an additional $12,497,000, bringing the total financing to approximately $27.5 million [197]. - The December 2023 Financing raised $15,760,040 from the issuance of 13,133,367 Common Shares at $1.20 per share [198]. Compensation and Stock Options - The company granted 5,750,000 stock options and 3,175,000 restricted share units (RSUs) as part of its compensation strategy [194]. - The fair value of the DSU liability is $941,664 as of December 31, 2024, compared to $884,481 in 2023, showing an increase in share-based compensation obligations [225]. - The Company has no material commitments for capital expenditures over the next 12 months as of December 31, 2024 [204]. Market and Valuation - The Company utilizes the Black-Scholes option pricing model for calculating the fair value of stock-based awards, which is influenced by stock price volatility and exercise behaviors [237]. - Total assets decreased by $13,020,736 from December 31, 2023, primarily due to lower cash balances [176]. - Total current assets decreased from $20,678,773 in 2023 to $7,618,243 in 2024, with notable declines in Canada and Botswana segments [221].
NexMetals Mining Corp(NEXM) - 2024 Q3 - Quarterly Report
2024-11-14 22:00
Exploration and Drilling Activities - The Company has drilled approximately 17,167 metres in 36 holes at Selebi North during Q3 2024, with a total of 30,915 metres across 71 completed holes[179]. - The Company has reported assay results from a total of 80 drill holes at the Selebi Mines since January 1, 2024, with significant intersections reported[183]. - The Company announced strong assay results from re-sampling historic drill core at the Selkirk Mine, which will contribute to the upcoming mineral resource estimate[189]. - The Company has completed a total of 60,899 metres in 156 drill holes at Selebi North as of November 10, 2024[183]. - Significant intersections include 17.55 metres of 1.98% Cu and 2.07% Ni in hole SNUG-24-089, and 35.60 metres of 1.38% Cu and 1.54% Ni in hole SNUG-24-105[200]. - As of September 30, 2024, significant intersections at the Selkirk Mine include a drill hole (DSLK012) with a length of 139.00m and copper equivalent (CuEq) of 1.55%[214]. - The highest CuEq value reported was 5.78% over a length of 16.70m in drill hole DSLK219[214]. - Exploration work has included re-logging selected drill core and submitting samples for proof-of-concept metallurgical testing[212]. - Exploration programs adjacent to the Selkirk mining licence included two surface electromagnetic surveys completed in Q2 2024, with no significant results in nickel, copper, or PGEs[216]. Mineral Resource Estimates - The Initial Mineral Resource Estimate (MRE) for the Selebi Mines reflects a significant expansion from the 2016 historic estimate, with a total inferred resource of 24.72 million tonnes at an average grade of 1.50% Cu and 0.92% Ni[196]. - The Company plans to deliver a mineral resource estimate for the Selkirk Mine in Q4 2024, with ongoing costs estimated at $150,000[181]. - The company has engaged SLR to complete a Mineral Resource Estimate (MRE) following data verification exercises[212]. - The estimated true thickness of mineralization is derived from the MRE wireframe, with CuEq calculated using Cu + 2.06*Ni[201]. Financial Performance and Funding - The Company reported a net loss of $31,145,332 for the nine months, an increase of $8,945,819 compared to the prior year[236]. - The Company had working capital of $15,092,693 as of September 30, 2024, slightly up from $14,999,619 at the end of 2023[231]. - Total assets decreased by $682,137 to $37,292,068 as of September 30, 2024, primarily due to lower cash balances and depreciation[237]. - The Company had $17,358,377 in available cash as of September 30, 2024, down from $19,245,628 at the end of 2023[232]. - General exploration expenses increased by $5,345,605 for the nine months ended September 30, 2024, reflecting a ramp-up in activities[241]. - The Company closed private placements for gross proceeds of approximately $27.5 million during the first nine months of 2024[246]. - Net cash used in operating activities increased by $3,454,621 year-to-date 2024 compared to 2023, driven by increased exploration activities[243]. - The accumulated deficit reached $135,712,148 as of September 30, 2024, up from $104,566,816 at the end of 2023[248]. - The Company plans to use proceeds from the June 2024 Financing to advance exploration and development of its Mines in Botswana[252]. - Non-current financial liabilities increased by $798,200 to $18,990,747 as of September 30, 2024, due to costs associated with a Term Loan[239]. - The Company closed the December 2023 Financing, raising gross proceeds of $15,760,040 by issuing 13,133,367 Common Shares at $1.20 each[254]. - The principal amount of the Term Loan increased from $15,000,000 to $20,882,353, with an original issue discount of approximately 15%[254]. - As of September 30, 2024, the net proceeds of the December 2023 Financing were fully expended, primarily for exploration and evaluation of the Mines[254]. - The total estimated use of proceeds from the June 2024 Financing is $27,300,000, with $9,059,000 expended as of September 30, 2024[256]. Project Developments and Future Plans - Ongoing costs for the Selebi Mines are estimated at $2 million for drilling and assays, $4 million for operating costs, and $2 million for engineering and development, all to be incurred by December 2024[185]. - The Company received an extension of the Study Phase for the Selebi Mines project until February 1, 2026, allowing additional time to complete an economic study[189]. - The Company is focused on advancing key activities that will support an economic study for the Selebi Mines, including resource characterization drilling and underground development[187]. - The Company has a total purchase obligation of USD 56,750,000 for the Selebi Mines, payable in three installments, with conditions for cancellation if deemed uneconomical[261]. - The acquisition of Phikwe South and the Southeast Extension deposits is expected to close in Q4 2024, with an upfront cost of USD 1,000,000 and additional work commitments of USD 5,000,000 over four years[263][264]. Shareholder Information - As of September 30, 2024, the Company had 185,708,588 Common Shares outstanding, with a fully diluted share capital of 248,465,641[280]. - The Financing Parties acquired 16,037,800 Common Shares, representing approximately 10.7% of the Company's issued shares, as part of the EdgePoint Transactions[275]. - Key management compensation totaled $4,019,610 for the nine months ended September 30, 2024, compared to $3,237,974 for the same period in 2023[274]. Property Overview - The Selkirk Mine covers an area of 1,458 hectares and has four prospecting licences covering a total of 12,670 hectares[211]. - The Maniitsoq project in Greenland covers an area of 2,182 square kilometers and has no mineral resources or reserves as of now[220]. - The Post Creek property consists of 73 unpatented mining claim cells covering a total area of 912 hectares, with no exploration work completed in 2024[222]. - The Halcyon property, adjacent to the Post Creek property, consists of 63 unpatented mining cells and has not seen exploration work in 2024[226]. - The Quetico property, located in the Thunder Bay Mining District, consisted of 99 claim cells as of January 2024, but no work was carried out in 2024[228]. - The company holds a 100% interest in both the Post Creek and Halcyon properties, with obligations for annual net smelter return payments[222][226]. - No material expenditures or activities are planned for the Maniitsoq, Post Creek, Halcyon, and Quetico properties at this time[221][225][227][229].
NexMetals Mining Corp(NEXM) - 2024 Q2 - Quarterly Report
2024-08-19 21:26
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR Large accelerated filer ☐ Accelerated filer ☐ For the transition period from ____________ to ____________ Commission File Number: 000-14740 PREMIUM NICKEL RESOURCES LTD. (Exact name of regis ...