Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 183

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 183
---
 December 31, 2023 

    Classification  
    Carrying Value $  
    Fair Value $  
    Carrying Value $  
    Fair Value $ 
  
    Lease liabilities 
     Level 2  
     -  
     -  
     1,611,143  
     1,611,143 
  
    DSU liability 
     Level 1  
     941,664  
     941,664  
     884,481  
     884,481 
  
    Vehicle financing 
     Level 2  
     246,137  
     246,137  
     236,124  
     236,124 
  
    Term Loan 
     Level 3  
     18,983,212  
     20,862,478  
     17,956,423  
     20,839,975 
  
    NSR option liability 
     Level 2  
     2,750,000  
     2,750,000  
     2,750,000  
     2,750,000 

Lease
liabilities and vehicle financing - The fair values approximate carrying values as the interest rates are comparable to current market
rates.

DSU
liability - the fair value of the DSUs is measured using the closing price of the Company’s Common Shares at the end of each reporting
period.

Term
Loan – the Term Loan is carried at amortized cost. The fair value measurement of the Term Loan was based on an income approach.

NSR
option liability – The fair value of the NSR options is determined using a valuation model that incorporates such factors as discounted
cash flow projections, metal price volatility, and risk-free interest rate. As the NSR options are exercisable entirely at the discretion
of Cymbria and the underlying projects are in the exploration stage, the fair value of the call and put on the options as at December
31, 2024 and December 31, 2023 is nil.

The
carrying value of cash and cash equivalents, trade payables and accrued liabilities approximate their fair value due to their short-term
nature.

-33-

Accounting
Developments

For
a discussion of Recently Adopted and Recently Issued Accounting Pronouncements, refer to Note 2 of the Consolidated Financial Statements.

Critical
Accounting