Nov. 24 at 11:50 PM
$NEXM Posted on behalf of NexMetals Mining Corp. -NexMetals Mining (TSXV: NEXM) has just reset its balance sheet and unlocked a new development path with a blockbuster US
$80M financing — effectively solving the historic “
$1B smelter problem” at its Botswana assets.
What changed
• US
$80M raise led by Condire Capital (9.9% holder); EdgePoint added
• ~US
$21M.X debt cleared → debt-free + ~US
$90M cash
• Institutional ownership jumps to ~75%
• Fully funded through the 2026 work program
The real breakthrough: metallurgy
A new concentrate-splitting process removes the need for a rebuilt smelter and enables payable cobalt recovery — cutting potential capex to <US
$500M per asset and dramatically improving project economics.
Asset scale in a Tier-1 copper belt
• Selebi: ~30Mt @ 3.35% CuEq, existing underground access, 30+ yrs history
• Selkirk: >200Mt mineralized horizon; Q1/26 resource update + Q2/26 PEA targeted
https://www.reddit.com/r/CanadianStockExchange/comments/1p3dbeg/nexmetals_mining_tsxv_nexm_has_just_reset_its/