Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 238

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 238
---
 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  
    Carrying Value $  
    Fair Value $  
    Carrying Value $  
    Fair Value $ 
  
    Lease liabilities 
     Level 2  
     -  
     -  
     1,611,143  
     1,611,143 
  
    DSU liability 
     Level 1  
     941,664  
     941,664  
     884,481  
     884,481 
  
    Vehicle financing 
     Level 2  
     246,137  
     246,137  
     236,124  
     236,124 
  
    Term loan 
     Level 3  
     18,983,212  
     20,862,478  
     17,956,423  
     20,839,975 
  
    NSR option liability 
     Level 2  
     2,750,000  
     2,750,000  
     2,750,000  
     2,750,000 

Lease
liabilities and vehicle financing – The fair values approximate carrying values as