NexMetals Secures Title to Selebi and Selkirk Assets in Botswana Following Completion of Milestone Payment
Rhea-AI Summary
NexMetals (TSXV:NEXM, NASDAQ:NEXM) completed a contingent milestone payment of US$25 million to the BCL Liquidator on December 2, 2025, securing unencumbered title to the Selebi and Selkirk Cu-Ni-Co-PGE assets in Botswana.
The payment followed a recent equity financing that the company says strengthened the balance sheet and provided capital to enable the milestone. With title secured, NexMetals says it can move forward with reduced risk and accelerate technical and operational work programs across both projects.
Positive
- US$25 million milestone payment completed
- Secured unencumbered title to Selebi and Selkirk assets
- Equity financing strengthened the balance sheet
- Company positioned to accelerate work programs in Botswana
Negative
- None.
News Market Reaction
On the day this news was published, NEXM declined 3.70%, reflecting a moderate negative market reaction. Argus tracked a peak move of +2.6% during that session. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $84M at that time. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Within Metal Mining peers, moves were mixed: USGO up 3.1%, FURY up 8.06%, PLL down 9.6%, while scanner activity flagged OMEX down 8.62%. This pattern points to stock-specific factors for NEXM rather than a uniform sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Drill results update | Positive | +4.7% | Strong CuEq intercepts at Selkirk supporting MRE update and metallurgy work. |
| Dec 02 | Asset title secured | Positive | -3.7% | US$25M milestone payment securing unencumbered title to Botswana assets. |
| Nov 18 | Equity incentives | Neutral | -0.8% | Annual RSU and DSU grants under Omnibus Equity Incentive Plan. |
| Nov 17 | Public unit offering | Negative | -3.8% | Closing C$80M unit offering with warrants to fund milestone and exploration. |
| Oct 30 | Offering upsized | Neutral | +0.0% | Upsizing planned public offering from C$65M to C$80M on strong demand. |
Asset and drill results have sometimes been met with selling, while financing-related news frequently saw flat-to-negative reactions, indicating occasional divergence between positive operations news and short-term price moves.
Over recent months, NexMetals advanced the Selebi and Selkirk assets through financings and technical work. In October–November 2025, the company upsized and closed a C$80M unit offering to fund contingent milestone payments and Botswana project work. On December 2, 2025, it completed the US$25M milestone payment, securing unencumbered title to the Selebi and Selkirk Cu-Ni-Co-PGE assets. The next day, drill results from Selkirk highlighted thick CuEq intercepts to feed an updated Mineral Resource Estimate and metallurgical studies, underscoring a steady de‑risking and build-out of the Botswana portfolio.
Market Pulse Summary
This announcement confirms completion of the US$25M milestone payment, giving NexMetals unencumbered title to the Selebi and Selkirk Cu-Ni-Co-PGE assets in Botswana. The payment was funded by a recent C$80M equity financing, tying capital markets activity directly to asset de‑risking. Recent drill results at Selkirk and the company’s Q3 10-Q frame the story around project advancement, ongoing losses, and funding needs. Investors may watch upcoming technical and operational updates for clarity on project timelines and capital requirements.
Key Terms
cu-ni-co-pge technical
AI-generated analysis. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) (the "Company" or "NEXM") is pleased to announce that the Company has officially completed the contingent milestone payment of US
This milestone follows the Company's recent equity financing, which received strong support from both new and existing institutional investors. The financing strengthened the balance sheet, provided the necessary capital needed to further advance the Company's plans in Botswana, and enabled completion of this key payment. With this step now finalized, the Company is positioned to move forward with reduced risk while accelerating work programs across both projects.
Morgan Lekstrom, CEO of the Company, commented: "This marks an important turning point for our Company. Completing the payment and securing title to the Selebi and Selkirk assets gives us a clear runway to continue advancing these projects. It represents a major step in our effort to position these assets for long term growth. We appreciate the trust and support of our shareholders throughout this process. It is an encouraging moment for NEXM and a solid foundation for the next phase of development."
The Company will provide further updates on its upcoming technical and operational programs in the weeks ahead.
About NexMetals Mining Corp.
NexMetals Mining Corp. is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the Company in the Republic of Botswana.
NexMetals is committed to governance through transparent accountability and open communication within our team and our stakeholders. NexMetals' team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the Company's Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations, and project development.
For further information about NexMetals Mining Corp., please contact:
Morgan Lekstrom
CEO and Director
morganl@nexmetalsmining.com
Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com
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Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information") based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to, statements regarding the expected acceleration and advancement of work programs in Botswana, and the Company's plans for ongoing project development. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the risk of unidentified title defects on the Company's properties in Botswana; changes in equity markets; inflation; fluctuations in commodity prices; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's filings with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov) and public disclosure record on SEDAR+ (www.sedarplus.ca), in each case, under the Company's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276535
FAQ
What did NexMetals (NEXM) announce on December 2, 2025 about Selebi and Selkirk?
How did NexMetals fund the US$25 million payment for the Selebi and Selkirk assets?
What commodities are covered by the Selebi and Selkirk assets acquired by NEXM?
What immediate effect does securing title have for NexMetals (NEXM)?
Will NexMetals provide more details about work programs and timing for Selebi and Selkirk?
Which markets list NexMetals stock under the symbol NEXM?
