Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 99

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 99
---
 Salaries and management fees 
     1,373,388  
     1,195,550 
  
    One-time retirement benefit 
     1,168,729  
     - 
  
    Site operations and administration 
     2,088,356  
     2,394,776 
  
    DSUs granted, net of fair value movements 
     57,183  
     670,008 
  
    Share-based compensation 
     1,252,483  
     657,138 
  
    Key
    management compensation 
     5,940,139  
     4,917,472 

The
one-time retirement benefit for the year ended December 31, 2024, relates to the retirement of the Company’s former Chief Executive
Officer.

    F-29

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

14. 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 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:

 SCHEDULE
OF CARRYING VALUE AND FAIR VALUE OF OTHER FINANCIAL INSTRUMENTS

    December 31, 2024  
    December 31, 2023 

    Classification  
    Car