Extract Advisors LLC and managing member Darin Milmeister report beneficial ownership of 1,833,616 common shares of NexMetals Mining Corp., representing 5.0% of the class as of the reporting date.
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Extract Advisors LLC and managing member Darin Milmeister report beneficial ownership of 1,833,616 common shares of NexMetals Mining Corp., representing 5.0% of the class as of the reporting date. The position includes shares held by private funds they manage and shares that may be acquired through warrant exercises within sixty days.
All voting and dispositive power over these 1,833,616 shares is reported as shared, with no sole voting or dispositive authority. The filers state the securities were acquired and are held in the ordinary course of business, without the purpose or effect of changing or influencing control of NexMetals Mining Corp., and each disclaims beneficial ownership beyond any pecuniary interest.
FAQ
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What stake in NexMetals Mining Corp. (NEXM) is reported in this Schedule 13G?
The filing reports beneficial ownership of 1,833,616 common shares of NexMetals Mining Corp., representing 5.0% of the outstanding class. This crosses the 5% threshold that triggers a Schedule 13G disclosure for passive institutional investors and control persons.
Who are the reporting persons in the NexMetals Mining Corp. (NEXM) Schedule 13G?
The reporting persons are Extract Advisors LLC and Darin Milmeister. Extract Advisors LLC is a Delaware investment adviser, and Milmeister is its managing member. Both report the same 1,833,616 NexMetals common shares as beneficially owned with shared voting and dispositive power.
How did Extract Advisors LLC and Darin Milmeister obtain their NexMetals (NEXM) position?
The reported NexMetals position consists of shares held by one or more private funds managed by Extract Advisors LLC and shares that may be acquired through exercising certain warrants within sixty days. This combination forms the 1,833,616 shares disclosed as beneficially owned.
What percentage of NexMetals Mining Corp. (NEXM) does 1,833,616 shares represent?
The filing states the 1,833,616 common shares represent 5.0% of NexMetals’ outstanding class. This percentage is based on the issuer’s reported 21,455,608 shares outstanding, additional public offering units, and shares the adviser can acquire via warrant exercise within sixty days.
Do Extract Advisors LLC and Darin Milmeister claim control intent over NexMetals Mining Corp. (NEXM)?
No. They certify the securities were acquired and are held in the ordinary course of business and not for changing or influencing control of NexMetals. They also state the holdings are not in connection with any transaction intended to affect control, aside from certain nomination-related activities.
How is voting and dispositive power over NexMetals (NEXM) shares structured in this filing?
Both Extract Advisors LLC and Darin Milmeister report zero sole voting and dispositive power and 1,833,616 shares of shared voting and shared dispositive power. This means decisions on voting and selling these shares are shared, primarily through the managed private funds’ structure.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NexMetals Mining Corp.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
65346E204
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
65346E204
1
Names of Reporting Persons
Extract Advisors LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,833,616.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,833,616.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,833,616.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
IA, OO
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
CUSIP No.
65346E204
1
Names of Reporting Persons
Darin Milmeister
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,833,616.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,833,616.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,833,616.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.0 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Please see note in Item 4(a).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
NexMetals Mining Corp.
(b)
Address of issuer's principal executive offices:
3123-595 Burrard Street
Vancouver, British Columbia, Canada V7X 1J1
Item 2.
(a)
Name of person filing:
Extract Advisors LLC*
Darin Milmeister*
(b)
Address or principal business office or, if none, residence:
4500 Park Granada Unit 202, Calabasas, CA 91302
(c)
Citizenship:
Extract Advisors LLC - Delaware
Darin Milmeister - United States
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
65346E204
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Extract Advisors LLC - 1,833,616*
Darin Milmeister - 1,833,616*
*The common shares (the "Shares") reported herein for NexMetals Mining Corp. (the "Issuer") include (i) Shares held by one or more private funds managed by Extract Advisors LLC (the "Adviser"); and (ii) the approximate number of Shares which may be acquired through the exercise of warrants within sixty (60) days. Darin Milmeister serves as the managing member of the Adviser (the "Managing Member," and collectively with the Adviser, the "Reporting Persons"). As of the reporting date, the Adviser held 1,833,616 Shares. The percentages reported herein are calculated based upon (i) the statement in the Issuer's Form 10-Q filed on November 13, 2025 that there were 21,455,608 Shares outstanding as of November 13, 2025; plus (ii) 14,035,100 Shares underlying the units issued in the Issuer's public offering that closed on November 17, 2025; and (iii) the approximate number of Shares the Adviser has the right to acquire through the exercise of certain of its warrants within sixty (60) days. This report shall not be deemed an admission that the Reporting Persons are beneficial owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the reporting persons herein disclaims beneficial ownership of the Shares reported herein except to the extent of the reporting person's pecuniary interest, if any, therein.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
