NexMetals Mining Reports Improved Selkirk Metallurgical Results

Nexmetals Mining ( (TSE:NEXM) ) has issued an update.

On April 27, 2026, NexMetals Mining reported new metallurgical results from its Selkirk nickel-copper-PGE project in Botswana, confirming that recent locked cycle tests can produce separate, saleable copper and nickel concentrates using large-diameter core from the 2025 drill program. The tests delivered a copper concentrate grading 30.2% Cu at 81.3% recovery with low nickel contamination, and a nickel concentrate grading 10.9% Ni at 54.4% recovery, marking a significant shift away from the project’s historical low-grade bulk concentrate approach.

Compared with assumptions used in the 2024 mineral resource estimate, the latest work shows a 16% increase in copper recovery, more than halved copper losses to tailings, and a roughly 60% improvement in nickel concentrate grade, while maintaining copper concentrate grades near 30%. NexMetals also highlighted that PGEs, gold, cobalt and silver—some of which were not comprehensively assayed previously—are now being integrated into the deposit model, potentially adding meaningful upside to Selkirk’s economics and supporting an upcoming updated mineral resource estimate expected in the second quarter of 2026.

These results further de-risk the processing flowsheet by validating a conventional sequential flotation circuit and suggest improved payability from precious and by-product metals in both concentrates. Management signalled that, following completion of the new resource estimate, the company expects to be better positioned to evaluate strategic options for Selkirk, including partnerships, a possible spin-out or advancing toward new economic studies, with the goal of crystallising greater value for shareholders in a supportive commodity price environment.

The most recent analyst rating on (TSE:NEXM) stock is a Buy with a C$12.50 price target. To see the full list of analyst forecasts on Nexmetals Mining stock, see the TSE:NEXM Stock Forecast page.

Spark’s Take on NEXM Stock

According to Spark, TipRanks’ AI Analyst, NEXM is a Neutral.

The score is held down primarily by very weak financial performance (pre-revenue, widening losses, and heavy ongoing cash burn) and bearish technicals (below key moving averages with negative MACD). Positive exploration/board-related corporate events provide some upside optionality, but valuation support is limited due to continued losses and no dividend.

To see Spark’s full report on NEXM stock, click here.

More about Nexmetals Mining

NexMetals Mining Corp. is a Vancouver-based mining company focused on the exploration and development of nickel, copper and platinum group element (PGE) deposits. Its flagship asset is the advanced, past-producing Selkirk Project in Botswana, where historical work centred on open-pit extraction and bulk concentrate production, now being reoriented toward higher-value separate copper and nickel concentrates.

The company is listed on the TSX Venture Exchange and Nasdaq under the symbol NEXM, and targets value creation by upgrading metallurgical performance and resource definition at Selkirk. By reassessing previously underexplored by-product metals such as PGEs, cobalt, silver and gold, NexMetals aims to enhance project economics and reposition Selkirk as a more compelling development opportunity within the global base and precious metals market.

Average Trading Volume: 101,020

Technical Sentiment Signal: Sell

Current Market Cap: C$112.2M

See more insights into NEXM stock on TipRanks’ Stock Analysis page.