Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 50

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 50
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 warrants.

Insurance

For the year ended December 31, 2023, insurance costs were $360,050, an increase of $97,735 compared to the comparable period in 2022. The increase was due to the premium for directors and officers insurance which was initiated upon completion of the IPO in the second quarter of 2022.

Investor relations and marketing

For the year ended December 31, 2023, investor relations and marketing was $233,355, an increase of $88,110 compared to the comparable period in 2022. The increase was due to increased promotion, social media campaigns and marketing of the Company since the listing of the Company’s shares on the NYSE American.

Professional fees

For the year ended December 31, 2023, professional fees were $327,712, an increase of $31,467 compared to the comparable period in 2022. The increase was primarily related to an increase in the annual audit fees.

Management salaries and consulting fees

For the year ended December 31, 2023, management salaries and consulting fees were $590,696, a decrease of $25,457 compared to the comparable period in 2022. The decrease was primarily due to performance bonuses received on completion of the IPO partially offset by management salaries and consulting fees paid to senior executives and directors which commenced in the second quarter of 2022.

Listing and filing fees

For the year ended December 31, 2023, listing and filing fees were $156,758, a decrease of $8,079 compared to the comparable period in 2022. The decrease in fees was primarily due to the costs associated with the IPO in 2022 partially offset by fees, in the amount of $50,000, incurred with the NYSE American for the Company’s stock incentive plan.

Write-off of E& E assets

For the year ended December 31, 2023, the Company recognized a write-off of E& E assets in the amount of $2,252,786. This was related to the termination of the Fourmile Basin and Miller project mineral lease and option agreements, in the amount of $1,899,330 and the notice to Pediment that the Company will drop certain leases and claim holdings within the Kelly Creek Project, in the amount of $353,456.

Unrealized fair value loss on marketable securities

For the year ended December 31, 2023, unrealized fair value loss on marketable securities was $9