Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 78

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 78
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  Carrying  Value 
     2,785,550  
     4,939,081  
     191,298  
     296,870  
     275,606  
     8,488,405 

Note:

    (1)Land
                                            and Buildings contains the Syringa Lodge right-of-use ROU asset and Equipment contains the
                                            drilling equipment supply agreement ROU asset (Note 8). The Company had full title to these
                                            assets at December 31, 2024.

    F-18

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

7.
TRADE PAYABLES AND ACCRUED LIABILITIES

A
summary of trade payables and accrued liabilities is detailed in the table below:

SCHEDULE
OF TRADE PAYABLES AND ACCRUED LIABILITIES 

    December 31, 2024  $  
    December 31, 2023 $ 

    Amounts due to related parties (Note 13) 
     1,259,665  
     93,795 
  
    Trade payables 
     2,493,306  
     2,383,196 
  
    Accrued liabilities 
     724,609  
     1,803,155 
  
    Total trade payables
    and accrued liabilities 
     4,477,580  
     4,280,146 

Included
in the amounts due to related parties at December 31, 2024, is $1,168,729 due to the Company’s former Chief Executive Officer related
to his retirement from the Company and is payable in 24 equal monthly installments of $48,697.

8.
LEASE LIABILITIES 

The
following table summarizes quantitative information pertaining to the Company’s finance and operating leases:

SCHEDULE
OF FINANCE AND OPERATING LEASES COST

    2024
                                             $  
    2023 $ 

    Year ended December 31, 

    2024  $  
    2023 $ 
  
    Lease cost 

    Finance lease cost: 

    Amortization of finance lease right-of-use assets 
     317,957  
     204,434 
  
    Interest on lease liabilities 
     114,