The nearly 3x increase in Indicated resources and new geological evidence of a potential deposit connection are significant technical catalysts. Watch for the NI 43-101 Technical Report due within 45 days, updates on the project funding review, and the Selkirk PEA completion timeline.
Price Chart
Executive Summary
NexMetals Mining Corp. announced an updated Mineral Resource Estimate for its Selebi North deposit, nearly tripling Indicated Mineral Resources to 8.95 million tonnes (from 3.00 million tonnes in 2024) and increasing Inferred Mineral Resources to 9.48 million tonnes (from 5.83 million tonnes). Combined with the previously announced Selebi Main estimate, total Selebi Mines resources now stand at 8.95 million tonnes Indicated (412 million lbs CuEq) and 41.95 million tonnes Inferred (2.3 billion lbs CuEq). The filing also notes new geological evidence suggesting a potential connection between the Selebi North and Selebi Main deposits, and the company is advancing a project funding review and a Selkirk PEA.
Key Facts
- Selebi North Indicated Mineral Resources nearly tripled to 8.95 million tonnes grading 1.03% Cu and 1.08% Ni, from 3.00 million tonnes grading 0.90% Cu and 0.98% Ni in 2024.
- Selebi North Inferred Mineral Resources increased 63% to 9.48 million tonnes grading 1.21% Cu and 1.13% Ni, from 5.83 million tonnes grading 0.90% Cu and 1.07% Ni in 2024.
- Combined Selebi Mines: 8.95 million tonnes Indicated (412 million lbs CuEq) and 41.95 million tonnes Inferred (2,255 million lbs CuEq).
- 42,633 metres of drilling in 92 holes since June 30, 2024 data cut-off drove resource expansion and conversion of ~20% of previously Inferred to Indicated.
- New geological interpretation suggests Selebi North's South Limb turns toward Selebi Main at depth, providing first geological basis for a potential connection between the deposits.
- Company engaged National Bank of Canada Capital Markets as financial advisor for project funding review, and DRA Global to complete a PEA for Selkirk.
- No financial results or revenue data reported in this filing.
Financial Impact
No financial figures reported. Resource growth is a technical milestone, not a financial result.
Risk Factors
- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
- Inferred Mineral Resources are subject to high uncertainty and may not be upgraded to Indicated or Measured.
- No guarantee the project funding review will result in a transaction.
- Reliance on historical BCL assay data from a non-independent, non-accredited laboratory for exploration-grade analyses.
- Exploration-stage company with no current production or revenue.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-047782 |
| Document: form8-k.htm | 0001493152-26-047782 |
| Document: 0001493152-26-047782-index-headers.html | 0001493152-26-047782 |
| Document: 0001493152-26-047782-index.html | 0001493152-26-047782 |
| Document: 0001493152-26-047782.txt | 0001493152-26-047782 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $1.55 | awaiting T+20 | — | $1.36 (−12.26%) |
Oct 1, 2026 25d ago | 8-K | $1.86 | awaiting T+20 | — | $1.36 (−26.88%) |
Sep 23, 2026 4w ago | 8-K | $2.15 $1.38 | ▼ −35.81% | ▼ −35.39% | $1.36 (−36.74%) |
Aug 17, 2026 10w ago | 8-K | $2.15 $2.32 | ▲ +7.88% | ▲ +8.87% | $1.36 (−36.77%) |
Jul 24, 2026 13w ago | 8-K | $2.13 $2.59 | ▲ +21.60% | ▲ +18.30% | $1.36 (−36.15%) |
Jun 1, 2026 21w ago | 8-K | $2.63 $2.53 | ▼ −3.80% | ▼ −2.24% | $1.36 (−48.29%) |
May 28, 2026 21w ago | 8-K | $2.80 $2.29 | ▼ −18.21% | ▼ −15.07% | $1.36 (−51.43%) |
May 13, 2026 23w ago | 10-K/A | $3.14 $2.49 | ▲ +20.70% | ▲ +19.84% | $1.36 (+56.69%) |
May 7, 2026 24w ago | 8-K | $2.88 $2.61 | ▼ −9.38% | ▼ −12.51% | $1.36 (−52.78%) |
Apr 27, 2026 26w ago | 8-K | $2.53 $2.79 | ▲ +10.28% | ▲ +5.32% | $1.36 (−46.25%) |
US Market Status
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