Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 44

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 44
---
2025 $  
    2024 $ 
  
    Salaries and management fees 
     186,145  
     269,615  
     646,654  
     761,797 
  
    Severance and transition costs 
     728,611  
     -  
     728,611  
     - 
  
    Site operations and administration 
     337,566  
     534,426  
     1,173,023  
     1,714,022 
  
    Director fees, net of DSU fair value movements 
     (336,784) 
     164,193  
     280,267  
     408,590 
  
    Share-based compensation 
     273,923  
     426,534  
     1,019,060  
     868,530 
  
    Total compensation 
     1,189,461  
     1,394,768  
     3,847,615  
     3,752,939 

For
the three and nine months ended September 30, 2025, the Company incurred $728,611 in severance and transition costs related to the departure
of the Company’s former Chief Financial Officer (three and nine months ended September 30, 2024 – $nil).

    24

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Expressed
in Canadian dollars)

13.
FAIR VALUE OF FINANCIAL INSTRUMENTS

ASC
820 - Fair Value Measurement establishes a three-tier fair value hierarchy. The fair value hierarchy’s three tiers are based
on the extent to which inputs used in measuring fair value are observable in the market, and are as follows:

    Level 1:
    Quoted prices (unadjusted)
    in active markets for identical assets or liabilities; 

    Level 2:
    Inputs other than quoted
    prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

    Level 3:
    One or more significant
    inputs used in a valuation technique are unobservable in determining fair values of the asset or liability. 

Determination
of fair value and the resulting hierarchy requires the use of observable market data whenever available. The classification