Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 65

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 65
---
 
  
    Share-based compensation 
     320,791  
     137,481  
     -  
     458,272 
  
    Total 
     14,614,458  
     1,705,673  
     152,742  
     16,472,873 

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 of an asset
or liability in the hierarchy is based upon the lowest level of input that is significant to the measurement of fair value.

The
carrying value of cash and cash equivalents, trade payables and accrued liabilities approximate their fair value due to their short-term
nature and therefore have been excluded from the table below. A summary of the carrying value and fair value of other financial instruments
were as follows:

    June 30, 2025  
    December 31, 2024 

    Classification  
    Carrying Value $  
    Fair Value $  
    Carrying Value $  
    Fair Value $ 
  
    DSU liability 
     Level 1  
     1,120,153  
     1,120,153  
     941,664  
     941,664 
  
    Vehicle financing 
     Level 2  
     342,711  
     342,711  
     246,137  
     246,137 
  
    Term Loan 
     Level 3  
     -  
     -  
     18,983,212  
     20,862,478 
  
    NSR option liability 
     Level 2