Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 123

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 123
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 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

    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