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VANCOUVER - NexMetals Mining Corp. (TSXV:NEXM) (NASDAQ:NEXM), a mining company with a market capitalization of approximately $965 million, has received a non-binding letter of interest from the Export-Import Bank of the United States indicating potential financing of up to $150 million for its nickel-copper-cobalt-platinum group metal mines in Botswana, the company announced Thursday. According to InvestingPro, the stock has gained nearly 20% year-to-date, outperforming many peers in the mining sector.
The letter outlines possible financing with a maximum 15-year repayment period to support the redevelopment of NEXM’s Selebi and Selkirk mines. The company said procurement of U.S. goods and services for the mines may qualify for special consideration under EXIM’s China and Transformational Exports Program. Analysts maintain a bullish outlook on NEXM, with price targets ranging from $11.40 to $12.71, suggesting significant upside potential. InvestingPro subscribers can access detailed financial analysis and additional insights about the company’s growth prospects.
"This represents a willingness from the United States to fund critical metals projects in one of Africa’s safest and most stable jurisdictions," said Morgan Lekstrom, CEO of NexMetals, in the press release.
The letter is non-binding and does not guarantee financing will be provided. EXIM would need to conduct standard due diligence following a formal application before issuing any final commitment.
NexMetals Mining Corp. focuses on redeveloping previously producing mines in Botswana. The company’s senior team members each have more than 20 years of experience in geology, engineering, operations, and project development, according to the statement. InvestingPro analysis indicates the company maintains a strong liquidity position with a current ratio of 6.43, though its overall Financial Health Score suggests room for improvement. The company is scheduled to report its next earnings on August 12, 2025.
The Export-Import Bank of the United States serves as the official export credit agency of the United States with a mission to support American jobs by facilitating exports through various financing options including export credit insurance, working capital guarantees, loan guarantees, and direct loans.
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