Premium Resources Ltd Stock Price, News & Analysis

Premium Resources Ltd. has announced its corporate rebranding to NexMetals Mining Corp., with the name change approved by shareholders on June 3, 2025. The company's shares will begin trading under the new ticker symbol 'NEXM' on the TSX Venture Exchange starting June 11, 2025, with new CUSIP (65346E105) and ISIN (CA65346E1051) numbers assigned. Existing share certificates remain valid and unaffected by the change. CEO Morgan Lekstrom explained that this rebranding aligns with their strategic pivot towards becoming a key player in critical metals, focusing on copper, nickel, and cobalt production in Botswana, aiming to establish the country as a significant contributor to the global critical metals supply chain.

Premium Resources Ltd. (PRMLF) held its Annual General and Special Meeting on June 3, 2025, where shareholders approved all proposed resolutions. Key approvals included the re-election of eight directors, reappointment of MNP LLP as auditors, and several significant corporate changes. The approved changes include the company's continuance from Ontario to British Columbia, a company name change, a potential share consolidation of up to 20:1 ratio, and adoption of a new omnibus equity incentive plan. Additionally, Lindsey Le Ho was appointed as Corporate Secretary, replacing Timothy Moran who resigned from his positions as Corporate Secretary and Chief Legal Officer. The company's current leadership team consists of Morgan Lekstrom as CEO, Peter Rawlins as SVP & CFO, Brett MacKay as VP of Finance, Lindsey Le Ho as Corporate Secretary, Sharon Taylor as VP of Exploration, and Sean Whiteford as President of Premium Resources International Ltd.

Premium Resources has initiated a surface drilling program in the 2-kilometer gap zone between the Selebi North and Selebi Main deposits. The company is deploying two company-owned drill rigs to execute a 12,500-meter drilling program across 6 holes, targeting large borehole electromagnetic (BHEM) plates. The program aims to demonstrate potential mineralized connections between the deposits and is expected to complete in five months. The drilling strategy involves testing BHEM plates down-plunge and down-dip from both Selebi Main mine horizon and Selebi North deposit. CEO Morgan Lekstrom emphasizes this campaign's significance in unlocking substantial value and advancing their goal of becoming a major critical metals source in a Tier One mining jurisdiction.

Premium Resources Ltd. (PRMLF) has announced significant drilling results at its Selebi North Underground (SNUG) project, demonstrating substantial mineralization expansion. The key discovery includes drill hole SNUG-25-186 intersecting South Limb mineralization over 16.20 metres, located 132 metres down-plunge from the previously announced SNUG-25-184 hole.

Together, these drill holes have extended the South Limb mineralization by 315 metres down-plunge from the 2024 resource model's lower extent. Borehole electromagnetic (BHEM) surveys indicate thicker mineralization northwest of SNUG-25-186. The current resource has a down-plunge extent of 965 metres, with ongoing drilling targeting further expansion. Follow-up drilling is underway with SNUG-25-189, and assays for 2025 drill holes are expected in early July.

Premium Resources (PRMLF) has initiated a surface drilling program at its past-producing Selkirk copper-nickel-cobalt-PGE mine in Botswana. The program includes 12 drill holes focused on validating legacy data and supporting future resource model updates. The company is also resampling historical core, with 17 historical drill holes already resampled in 2024 and 34 additional holes identified for resampling.

The Selkirk Mine, which operated between 1989-2002 under Anglo American, historically produced 1 million tonnes at 2.6% Ni and 1.5% Cu. The current program aims to expand and upgrade the existing 44.2Mt Inferred Mineral Resource Estimate. The company is also conducting metallurgical optimization to develop a comprehensive metallurgical model for future development decisions.

Premium has also engaged ICP Securities Inc. for automated market making services at a monthly fee of C$7,500 for an initial four-month term.

Premium Resources Ltd. (PRMLF) has announced its participation in an upcoming live webinar hosted by Radius Research on Monday, May 12th at 4:00 PM ET. The event will feature CEO Morgan Lekstrom in a one-on-one interview with Martin Gagel of Market Radius Capital.

The webinar will focus on Premium's strategy to redevelop its past-producing Selebi and Selkirk sulphide mines in Botswana, which target copper, nickel, cobalt, and Platinum Group Elements (PGEs). Investors will have the opportunity to participate in a live Q&A session, with the option to submit questions in advance to jaclyn@premiumresources.com. A recording will be available for those unable to attend.

Premium Resources (PRMLF) has announced plans to uplist its common shares to the Nasdaq Capital Market, alongside details for its upcoming Annual General and Special Meeting (AGSM) scheduled for June 3rd, 2025. To meet Nasdaq's minimum bid price requirement of US$4 per share, the company will seek shareholder approval for a share consolidation of up to 20:1 ratio at the AGSM. Currently, Premium has 428,986,474 shares outstanding, which would be reduced to approximately 21,449,323 shares if the maximum consolidation ratio is applied. The AGSM will be held in-person in Vancouver, and all related documents have been mailed to shareholders and are available on the company's website and SEDAR+.

Premium Resources announced significant mineralization intersections at Selebi North Underground, with drill hole SNUG-25-184 extending 183 metres down-plunge from the Mineral Resource Estimate. The hole revealed two strongly mineralized intervals of 3.15 metres and 5.20 metres within a broader 13.50 metre mineralized zone. A borehole electromagnetic survey identified strong off-hole responses, indicating both South Limb and N2 zones remain open down-plunge. Follow-up drilling is ongoing with SNUG-25-186, targeting approximately 130 metres down-plunge of SNUG-25-184. Previous drilling results from SNUG-24-096-W1 showed 12.90 metres of 4.12% CuEq and 24.50 metres of 2.17% CuEq.

Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has announced the appointment of André van Niekerk to its Board of Directors, effective immediately. Van Niekerk, who brings over 23 years of mining industry leadership experience, replaces retiring director Don Newberry.

Van Niekerk previously served as CFO of Gatos Silver and Nevada Copper Corp., where he led successful equity financings and debt restructurings. He also spent 14 years at Golden Star Resources in various senior financial and operational roles, ultimately serving as Executive VP and CFO.

Following this change, Premium's Board now consists of eight directors. Additionally, the company has granted 230,000 stock options to various stakeholders at an exercise price of C$0.49 per share with a five-year term. Of these options, 140,000 vest immediately, while 90,000 vest annually in equal thirds.