NexMetals Files NI 43-101 Technical Report for Selkirk, Confirming 70% Resource Increase and Metallurgical Viability
NEXM is trading near its 52-week low of $2.03 (15% above the low).
Summary
NexMetals filed the NI 43-101 technical report for its Selkirk project, confirming a 70% increase in resources to 1.1 billion pounds of copper equivalent in the Indicated category and demonstrating viable metallurgy for separate copper and nickel concentrates.
Key Events · Product Development and Regulatory · NEXM
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NI 43-101 Technical Report Filed
NexMetals filed the independent NI 43-101 technical report for the Selkirk nickel-copper-PGE project, effective June 22, 2026, providing a detailed resource estimate and metallurgical testwork results.
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70% Resource Increase Confirmed
The report confirms an Indicated Mineral Resource of 78.2 million tonnes at 0.66% CuEq, containing approximately 1.1 billion pounds of copper equivalent, and an Inferred Resource of 15.1 million tonnes at 0.60% CuEq, containing approximately 200 million pounds of copper equivalent.
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Metallurgical Viability Demonstrated
Locked-cycle testwork successfully produced separate saleable copper and nickel concentrates, with recoveries of 81.3% for copper and 54.4% for nickel, supporting the proposed sequential flotation flowsheet.
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Path to Preliminary Economic Assessment
The report recommends advancing to a Preliminary Economic Assessment, with a proposed forward work program budget of approximately USD 896,000, including additional metallurgical testwork and exploration.
Analysis · NEXM · Energy & Transportation
NexMetals has filed the independent NI 43-101 technical report for its Selkirk nickel-copper-PGE project in Botswana. The report formalizes the 70% increase in contained copper equivalent metal announced in June, detailing an Indicated Resource of 78.2 million tonnes at 0.66% CuEq (1.1 billion pounds CuEq) and an Inferred Resource of 15.1 million tonnes at 0.60% CuEq (200 million pounds CuEq). Critically, the report includes comprehensive metallurgical testwork demonstrating the ability to produce separate saleable copper and nickel concentrates, with recoveries of 81.3% for copper and 54.4% for nickel. This de-risks the project's processing pathway and supports advancing to a Preliminary Economic Assessment. The filing comes against a backdrop of significant cash burn and going concern warnings, making this resource validation a key step in potentially attracting financing or a partner to develop the asset.
At the time of this filing, NEXM was trading at $2.33 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $83.4M. The 52-week trading range was $2.03 to $6.65. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.