Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 195

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 195
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, 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:

    September 30, 2025  
    December 31, 2024 

    Classification 
    Carrying Value $  
    Fair Value $  
    Carrying Value $  
    Fair Value $ 
  
    DSU liability 
    Level 1 
     677,426  
     677,426  
     941,664  
     941,664 
  
    Vehicle financing 
    Level 2 
     283,510  
     283,510  
     246,137  
     246,137 
  
    Mortgage payable 
    Level 2 
     1,413,144  
     1,413,144  
     -  
     - 
  
    Term loan 
    Level 3 
     -  
     -  
     18,983,212  
     20,862,478 
  
    NSR option liability 
    Level 2 
     2,750,000  
     2,750,000  
     2,750,000  
     2,750,000 

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.

Vehicle
financing and mortgage payable - the fair values approximate carrying values as the interest rates are comparable to current market rates.

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

43

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 September 30, 2025, and December 31, 2024 is $nil.

The
Company’s financial instruments are exposed to certain risks as discussed below:

Interest
Rate Risk

The
Company’s exposure to interest rate