Premium Resources Ltd. Files Q3 2024 Amendment

TL;DR

Premium Resources Ltd. amended its Q3 2024 filing. Check for updates.

AI Summary

Premium Resources Ltd. filed an amendment (10-Q/A) on December 20, 2024, for the quarterly period ended September 30, 2024. The company, formerly known as Premium Nickel Resources Ltd., is incorporated in A6 and operates in the Metal Mining sector. Its principal executive offices are located in Toronto, Ontario, Canada.

Why It Matters

This amendment provides updated financial and operational information for the third quarter of 2024, which is crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — This filing is an amendment to a standard quarterly report and does not appear to contain significant new negative information.

Key Numbers

• 20240930 — Quarterly Period End Date (The report covers the period ending on this date.)
• 20241220 — Filing Date (The amendment was filed on this date.)

Key Players & Entities

• Premium Resources Ltd. (company) — Filer and subject of the report
• Premium Nickel Resources Ltd. (company) — Former name of the company
• North American Nickel Inc. (company) — Previous former name of the company
• Widescope Resources Inc. (company) — Earlier former name of the company
• 100 KING STREET WEST, SUITE 3400, TORONTO, A6, M5X 1A4 (location) — Principal business address
• 604-770-4334 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.78 — total of 35,256,409 Units at a price of $0.78 per Unit for gross proceeds of approxim
• $27.5 million — nit for gross proceeds of approximately $27.5 million (the " June 2024 Financing "). For a mo
• $25 m — t milestone payment, in the amount of US$25 million, under the Selebi APA. Explorat
• $10.50 — . (6) Assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu, and nickel and
• $4.75 — ong-term prices of US$10.50/lb Ni and US$4.75/lb Cu, and nickel and copper recoveries

Filing Documents

• form10-qa.htm (10-Q/A) — 402KB
• ex31-1.htm (EX-31.1) — 7KB
• ex31-2.htm (EX-31.2) — 7KB
• form10-qa_001.jpg (GRAPHIC) — 15KB
• 0001493152-24-050958.txt ( ) — 701KB
• pnrlf-20240930.xsd (EX-101.SCH) — 3KB
• pnrlf-20240930_lab.xml (EX-101.LAB) — 34KB
• pnrlf-20240930_pre.xml (EX-101.PRE) — 22KB
• form10-qa_htm.xml (XML) — 9KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 6 Exhibits 19

SIGNATURES

SIGNATURES 20 2 Explanatory Note Premium Resources Ltd., formerly known as Premium Nickel Resources Ltd. (the "Company"), is filing this Amendment No. 1 on Form 10-Q/A (this "Amendment"), to its periodic report on Form 10-Q, which was initially filed with the Securities and Exchange Commission (the "SEC") on November 14, 2024 (the "Initial Filing"). This Amendment is being filed to amend and restate the

Management's Discussion and Analysis of Financial Condition and Results of Operations (the "MD&A") to remove

Management's Discussion and Analysis of Financial Condition and Results of Operations (the "MD&A") to remove resource estimates related to the Selebi Mines (as defined in the MD&A) prepared in accordance with Canadian requirements, but that were not prepared and presented with the requirements of the SEC under subpart 1300 of Regulation S-K (17 CFR Part 229). On November 15, 2024, the Company filed a Certificate of Amendment with the Ministry of Public and Business Service Delivery of Ontario, Canada, to change the Company's name to Premium Resources Ltd. from Premium Nickel Resources Ltd (the "Name Change"). The Name Change was approved by the Company's shareholders at the Annual General and Special Meeting of shareholders of the Company held on October 29, 2024. All references to Premium Nickel Resources Ltd., Premium Nickel or PNRL throughout this Amendment should be read as referring to the Company. In connection with the Name Change, the Company's website was changed to https://premiumresources.com. As such, certain references to the Company's former website have also been updated in the amended and restated MD&A presented in this Amendment to update the Company's website address. Pursuant to the rules of the SEC, Item 6 of Part II of the Initial Filing has been amended to contain currently-dated certifications from our principal executive officer and principal financial officer, as required by Sections 302 of the Sarbanes-Oxley Act of 2002. The certifications of our principal executive officer and our principal financial officer are attached to this Amendment as Exhibits 31.1 and 31.2. Because no financial statements are included in this Form 10-Q/A and this Form 10-Q/A does not contain or amend any disclosure with respect to Items 307 or 308 of Regulation S-K promulgated by the SEC under the Securities Exchange Act of 1934, paragraphs 3, 4 and 5 of the Section 302 certifications have been omitted. Further, because no financial statements are included in t

Properties

Properties The information relating to the Selebi Mines is derived from, and in some instances is an extract from, the technical report entitled "NI 43-101 Technical Report, Selebi Mines, Central District, Republic of Botswana" dated September 30, 2024 (with an effective date of June 30, 2024), which was prepared for the Company by SLR Consulting (Canada) Ltd. ("SLR") (the " Selebi Technical Report") , and in accordance with Canadian standards. The information relating to the Selkirk Mine is derived from, and in some instances is an extract from, the technical report summary entitled "Technical Report Summary on the Selkirk Nickel Project, North East District, Republic of Botswana" dated June 27, 2024 (with an effective date of May 31, 2024) prepared for the Company by SLR (the "Selkirk Technical Report "), prepared in compliance with the SEC's Modernization of Property Disclosures for Mining Registrants set forth in subpart 1300 of Regulation S-K. Selebi Mines, Botswana The Selebi Mines are located in Botswana approximately 150 km southeast of the city of Francistown, and 410 km northeast of the national capital Gaborone. The Selebi Mines are readily accessed via paved and gravel roads from the town of Selebi-Phikwe, located just north of the mining licence. With a population of approximately 52,000, the town is accessed via a well-maintained paved road that branches due east from the major A1 highway at the town of Serule, 57 km from the Selebi Mines. The Selebi Mines infrastructure includes two mines that are currently on care and maintenance, Selebi (#2 Shaft) and Selebi North (#4 Shaft), and associated surface infrastructure. The Selebi Mines consists of a single mining licence covering an area of 11,504 hectares. The mining licence is centred approximately at 2203'00"S and 2747'00"E. Mining licence 2022/1L was granted to Premium Nickel Resources Proprietary Limited, a wholly-owned subsidiary of PNRL in Botswana, on January 31, 2022 over the Seleb

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View this 10-Q/A filing on SEC EDGAR