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Interview with NexMetals Mining's CEO Morgan LekstromRecording date: 18 November 2025NexMetals Mining Corp has executed a comprehensive transformation that positions its two past-producing Botswana copper-nickel-cobalt assets as potential near-term development opportunities in a market characterised by acute supply constraints and major mining company acquisition activity.The company recently closed an US$80 million equity financing led by Texas-based institutional investor Condire Capital, which acquired a 9.9% stake, whilst existing major shareholder EdgePoint increased its position despite having no obligation to participate. The financing increased institutional ownership from 30% to 75% and eliminated US$21 million in legacy debt that had created a significant market overhang. With approximately US$90 million in cash, the company is fully funded for its 2026 work programme without near-term dilution requirements.Perhaps more significant than the financing itself is the metallurgical breakthrough that underpins the investment thesis. The original Selebi operation utilised a bulk concentrate smelter that subsequent owners dismantled. Rather than contemplate rebuilding infrastructure requiring over US$1 billion in capital, NexMetals' technical team developed concentrate-splitting technology that fundamentally alters project economics. Management now targets sub-US$500 million capital intensity per asset - a fraction of integrated smelter operations - whilst enabling cobalt recovery that previous operators could not economically achieve.The asset base comprises two distinct opportunities. Selebi represents an underground operation that produced continuously for over 30 years, with existing workings providing several years of access without additional development. The current resource stands at approximately 30 million tonnes grading 3.35% copper equivalent (roughly 1.75% copper and 1% nickel), with cobalt grades to be incorporated following metallurgical test work. Electromagnetic surveys have identified numerous additional conductive anomalies strongly associated with mineralisation, providing systematic drill targets for resource expansion.Selkirk presents a different profile as an open-pit deposit hosting over 200 million tonnes of mineralised horizon, though only 44 million tonnes currently feature in the resource estimate. The company completed a comprehensive 30,000-metre reassay programme of historical core and drilled 13 additional holes to support metallurgical test work, with a resource update expected in Q1 2026 and preliminary assessment-level economics targeted for Q2 2026.Management's strategy centres on demonstrating scale through 2026 exploration programmes before committing to development scenarios, targeting 15-20 year mine lives at optimal throughput rates. This approach positions the assets for either internal development or strategic transactions at substantially higher valuations than optimising smaller, near-term production scenarios. Selkirk, with its open-pit profile and platinum-palladium credits, may attract joint venture interest or acquisition proposals, potentially providing non-dilutive funding for Selebi North advancement.The board combines relevant experience across exploration, development, operations, and strategic transactions, including former BlackRock CIO Chris Leavy, former Gatos Silver CFO André van Niekerk (Gatos sold for US$1.2 billion), and Chairman Paul Martin (former CEO of Detour Gold). The team operates in Botswana's stable 59-year democracy with established mining infrastructure and government support for economic diversification away from diamonds.With preliminary assessments expected on both assets in 2026 and a compressed two-year strategic timeline, NexMetals has positioned itself as a potential acquisition target or development candidate in a copper-nickel market characterised by supply deficits and major company appetite for quality assets.
In this episode, we explore the transformative journey of NexMetals Mining following the acquisition and rebrand the Selebi Mining Camp and the Selkirk Project in Botswana. CEO Morgan Lekstrom shares insights into the strategic takeover, the challenges of restructuring, and the vision for revitalizing this historic site. He also dives into the exploration results from both projects.
Morgan Lekstrom, CEO of Premium Resources (TSX.V:PREM), outlines how the company is unlocking value from two past-producing, high-grade critical metal assets in Botswana. In this KE Report company introduction, we feature Premium Resources as it advances the Selkirk open-pit and Selebi underground Projects, both with a history of production. Morgan highlights why Botswana is a top-tier jurisdiction for mining, detailing the company's aggressive strategy to scale up both assets through expansion drilling, re-assays, metallurgy, and parallel economic studies. The Selebi Project hosts 30Mt @ 3.35% CuEq underground, while Selkirk is undergoing a low-cost re-assay campaign aimed at validating a historic 130Mt+ resource. With over $46M recently raised and debt eliminated via equity conversion with major shareholder EdgePoint, Premium is fully funded to aggressively advance both projects in tandem. Morgan also discusses the company's upcoming uplisting to the Nasdaq, a key strategic move to broaden institutional access and increase liquidity. He introduces members of the team and board, including recent additions with experience at BlackRock, Gatos Silver, and Freeport-McMoRan. Upcoming news flow includes drilling, resource updates, metallurgical work, and early-stage economics through 2025. Any follow up questions for Morgan? Please comment below or email me directly at Fleck@kereport.com. Click here to visit the Premium Resources website.
This evening on Financial Matters, we talk to Wendy Selebi, director of Seeds to Forests Training and Coaching Services, a dynamic speaker, mentor, coach, author, facilitator and the host of her own financial education podcast, “Let's Talk Money with Wendy Selebi,” hosted on YouTube. Wendy has written a book called “I wish somebody had told me”. In this book one can discover how acknowledging financial mistakes can pave the way to golden money milestones. You learn to embrace your financial shortcomings and understand your money beliefs and behaviours. Whether you're starting your career or planning for retirement, this book offers essential guidance to help you seize control of your financial future. Let “I Wish Someone Had Told Me” inspire you to take bold steps towards lasting financial prosperity. Wendy joins us to talk about her book.See omnystudio.com/listener for privacy information.
EXPERT Topic: SA needs to narrow skills gap Guest: Dr Olebogeng Selebi is the Deputy Director at UP's Centre for the Future of Work.
Our Profile interview this evening is Nthato Selebo, Executive Director for the South African Actuarial Development Programme (SAADP). The South African Actuarial Development Programme (SAADP) unveils its rebranding initiative, marking a transformative shift in its identity to better reflect its mission, vision, and commitment to empowering black actuarial professionals across South Africa and Mr Selebi brings a wealth of experience, passion, and dedication to youth development and transformation. See omnystudio.com/listener for privacy information.
Premium Nickel CEO Keith Morrison joins us for a general introduction to the company, their Nickel-Copper-Cobalt projects throughout the world, and a main development focus on the Selebi Mine in Botswana. The company is back underground at Selebi drilling and news flow is expected to pick up with results.
Chinese president Xi Jinping’s six year anti-corruption campaign claimed one of its biggest scalps yesterday in former head of Interpol, Meng Hongwei. Bloodletting at the UK’s Barclays Bank continued yesterday with the sudden departure of corporate and investment banking head Tim Throsby, in the position for barely two years. In South African news, Edward Kieswetter has been appointed the new head of the SA Revenue Services. South African stocks yesterday enjoyed a second winning session with the JSE All Share index rising just under one percent, pulled higher by its leading stock Naspers which gained 2.5% in a delayed reaction to Monday’s offshore listing announcement.
Fearless South African forensic investigator Paul…
Friends of Jackie Selebi says they believe the evidence used to arrest and prosecute the former police commissioner was compromised, however the NPAspokesperson, Velekhaya Mgobhozi, says there is nothing they can do in this matter. and he spoke to Sakina Kamwendo ..
Disgraced former National Police Commissioner, Jackie Selebi, has died . Selebi, who also served as Interpol President, was the most senior government official to have been convicted of corruption. South Gauteng High Court Judge Meyer Joffe convicted Selebi on the 2nd of July 2010 for having accepted bribes worth 166-thousand Rand from convicted drug trafficker and dodgy businessman, Glenn Agliotti. Joffe sentenced Selebi to 15 years' imprisonment on the 3rd of August 2010. In a hard-hitting judgment, Joffe said Selebi had lied and manufactured evidence to escape the consequences of his crimes
NUUS Borgaansoek van Nigeriese phishers uitgestel Windpomp Burger verdink van verkragting Hof hoor waarom Selebi saak nie kan voortgaan Nadraai van ET moord - TAU Jub-Jub kry borg - slagoffer families kwaad Verkragtingslagoffers verloor vertroue Haatliedjies gaan na Gelykheidshof Beweerde polisie brutaliteit in die Wes Rand JURIESAAK Moet breinskade oorlewende haar huis terugkry? ANDER SAAK Wanneer ontstaan 'n maritieme eis?
NUUS Borgaansoek van Nigeriese phishers uitgestel Windpomp Burger verdink van verkragting Hof hoor waarom Selebi saak nie kan voortgaan Nadraai van ET moord - TAU Jub-Jub kry borg - slagoffer families kwaad Verkragtingslagoffers verloor vertroue Haatliedjies gaan na Gelykheidshof Beweerde polisie brutaliteit in die Wes Rand JURIESAAK Moet breinskade oorlewende haar huis terugkry? ANDER SAAK Wanneer ontstaan 'n maritieme eis?
NUUS Mboweni wen gelykheidshof saak Prins Zulu hofsaak verwikkelinge Bestuurder trek af by polisiestasie - steeds gearresteer Toeriste vergoed vir onregmatige arrestasie Polisie soek oliemors verdagte Zille vat RDK (Regterlike Dienskommisie) aan Staat sluit Selebi saak na 5 maande Kaapstad bekommerd oor laer boete inkomste JURIESAAK Gee notariele ooreenkoms eienaarskap aan buurman? ANDER SAAK Hof gee weduwee se huis terug aan haar
NUUS Mboweni wen gelykheidshof saak Prins Zulu hofsaak verwikkelinge Bestuurder trek af by polisiestasie - steeds gearresteer Toeriste vergoed vir onregmatige arrestasie Polisie soek oliemors verdagte Zille vat RDK (Regterlike Dienskommisie) aan Staat sluit Selebi saak na 5 maande Kaapstad bekommerd oor laer boete inkomste JURIESAAK Gee notariele ooreenkoms eienaarskap aan buurman? ANDER SAAK Hof gee weduwee se huis terug aan haar
This week: Is our Deputy Chief Justice squeaky clean? The latest on the Selebi trial and how the Eskom leadership battle played itself out online.
NUUS 5de week van Selebi verhoor - Selebi en die selfoon - Die Rekenmeester - Die Dokumente Polisie skiet slagoffer 3 jaar oud Hospitaal nie 'n self-help baba diens nie Kragsteler onderskep in Soweto - burgerlike arres? Moenie CCTV kameras steel nie! Moet die president eers na slagoffers luister voor presidensiele kwytskelding? Oos Kaapse polisie verbrand 'n ton dagga JURIESAAK Wie moet motorhandelaar betaal as die wind 'n muur omwaai op sy karre? ANDER SAAK Minister van Justisie beveel om presidensiele kwytskeldings aansoek te oorweeg
NUUS 5de week van Selebi verhoor - Selebi en die selfoon - Die Rekenmeester - Die Dokumente Polisie skiet slagoffer 3 jaar oud Hospitaal nie 'n self-help baba diens nie Kragsteler onderskep in Soweto - burgerlike arres? Moenie CCTV kameras steel nie! Moet die president eers na slagoffers luister voor presidensiele kwytskelding? Oos Kaapse polisie verbrand 'n ton dagga JURIESAAK Wie moet motorhandelaar betaal as die wind 'n muur omwaai op sy karre? ANDER SAAK Minister van Justisie beveel om presidensiele kwytskeldings aansoek te oorweeg
This week: More fractures in the ANC/SACP/COSATU alliance; in the spectator box at the Selebi trial; and are our cops fiddling the crime statistics?
This week: The first week of the Selebi trial; interview with Zapiro about the newly launched "ZA News", and some insight into Julius Malema's power base.
NUUS Vuurwapen eienaars sonder lisensie in spervuur Seerowers in Tafelbaai Najwa se appel aansoek geweier Zuma saak in Konstitusionele hof laat vaar Ongelukkigheid oor "Selebi tapes" Lughawe rowers pleit Zuma verweer Hof verbied presidensiele kwytskeldings Verslapte visums vir Zim immigrante Polisie trek Londonse Bentley diewe vas JURIESAAK Is weerman se weervoorspelling rekenaarprogram sy eiendom? ANDER SAAK Karate instrukteur veg vir tronkregte
NUUS Vuurwapen eienaars sonder lisensie in spervuur Seerowers in Tafelbaai Najwa se appel aansoek geweier Zuma saak in Konstitusionele hof laat vaar Ongelukkigheid oor "Selebi tapes" Lughawe rowers pleit Zuma verweer Hof verbied presidensiele kwytskeldings Verslapte visums vir Zim immigrante Polisie trek Londonse Bentley diewe vas JURIESAAK Is weerman se weervoorspelling rekenaarprogram sy eiendom? ANDER SAAK Karate instrukteur veg vir tronkregte
NUUS Vonnisoplegging 35 keer uitgestel Aanklaers woedend oor vertraagde salarisverhogings Hof stop troue Lewenslange vonnis vir verkragting tersyde gestel Landdros rus na hofaanval Oprah deur Suid Afrikaner vir laster gedagvaar Noorweegse 10 jarige jaag weg vir polisie Mickey Mouse die doodstraf opgele JURIESAAK Wanneer kan die polisie aanspraak maak op selfverdediging REGSNUUS UIT GAUTENG Suid Afrikaanse president van Gemenebes Prokureursvereniging spreek Gauteng prokureurs toe - Oorsig oor die afgelope jaar se inmenging in die gereg op verskeie fronte - Pikoli geskors, Gerrie Nel gearresteer tydens Selebi ondersoek - Mag parlementere prosesse oor die hoof gesien word vir Polokwane besluite - Kommer oor Menseregtekommissie se ongeergdheid van Malema uitsprake om vir Zuma te moor - Van mening dat Nicholsonin sy uitspraak fouteer het in sekere opsigte - President verwyder sonder om grondwetlike prosedures te gebruik - Roep prokureurs op om hulle aktief uit te spreek teen die miskenning van die Rule of Law - die oppergesag van die reg
NUUS Vonnisoplegging 35 keer uitgestel Aanklaers woedend oor vertraagde salarisverhogings Hof stop troue Lewenslange vonnis vir verkragting tersyde gestel Landdros rus na hofaanval Oprah deur Suid Afrikaner vir laster gedagvaar Noorweegse 10 jarige jaag weg vir polisie Mickey Mouse die doodstraf opgele JURIESAAK Wanneer kan die polisie aanspraak maak op selfverdediging REGSNUUS UIT GAUTENG Suid Afrikaanse president van Gemenebes Prokureursvereniging spreek Gauteng prokureurs toe - Oorsig oor die afgelope jaar se inmenging in die gereg op verskeie fronte - Pikoli geskors, Gerrie Nel gearresteer tydens Selebi ondersoek - Mag parlementere prosesse oor die hoof gesien word vir Polokwane besluite - Kommer oor Menseregtekommissie se ongeergdheid van Malema uitsprake om vir Zuma te moor - Van mening dat Nicholsonin sy uitspraak fouteer het in sekere opsigte - President verwyder sonder om grondwetlike prosedures te gebruik - Roep prokureurs op om hulle aktief uit te spreek teen die miskenning van die Rule of Law - die oppergesag van die reg