Austin Gold Corp
For the period ended Mar 31, 2024. Filed May 9, 2024.
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Mar 31, 2024 · Filed May 9, 2024
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EX-99.2 · (d) Fair value estimation
(d) Fair value estimation
The Company's financial assets and liabilities are initially measured and recognized according to a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs.
The three levels of fair value hierarchy are as follows:
| Level 1: | Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. |
|---|---|
| Level 2: | Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). |
| Level 3: | Inputs for the asset or liability that are not based on observable market data. |
The Company's financial instruments consisting of cash and cash equivalents, short-term investments and accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of these financial instruments.
Marketable securities are fair valued at each reporting period using NGE's share price on the TSX Venture Exchange.
The following tables present the Company's financial assets and liabilities by level within the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.
| As at March 31, 2024 · Carrying value · Fair value | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FVTPL · Amortized cost · Level 1 · Level 2 · Level 3 | |||||||||
| Financial assets | |||||||||
| Cash and cash equivalents | $ | - | $1,895,612 | $ | - | $ | - | $ | - |
| Short-term investments | - | 6,643,011 | - | - | - | ||||
| Marketable securities | 8,891 | - | 8,891 | - | - | ||||
| $8,891 | $8,538,623 | $8,891 | $ | - | $ | - | |||
| As at December 31, 2023 · Carrying value · Fair value | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FVTPL · Amortized cost · Level 1 · Level 2 · Level 3 | |||||||||
| Financial assets | |||||||||
| Cash and cash equivalents | $ | - | $907,551 | $ | - | $ | - | $ | - |
| Short-term investments | - | 8,618,386 | - | - | - | ||||
| Marketable securities | 7,422 | - | 7,422 | - | - | ||||
| $7,422 | $9,525,937 | $7,422 | $ | - | $ | - | |||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.