Austin Gold Corp.
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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Dec 31, 2024 · Filed Feb 27, 2025
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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 following tables present the Company's financial assets and liabilities measured at fair value on a recurring basis, by level, within the fair value hierarchy.
| As at December 31, 2024 | Fair value | |||||
|---|---|---|---|---|---|---|
| Carrying value · Level 1 · Level 2 · Level 3 | ||||||
| Financial assets | ||||||
| Marketable securities | $12,404 | $12,404 | $ | - | $ | - |
| $12,404 | $12,404 | $ | - | $ | - | |
| As at December 31, 2023 | Fair value | |||||
| Carrying value · Level 1 · Level 2 · Level 3 | ||||||
| Financial assets | ||||||
| Marketable securities | $7,422 | $7,422 | $ | - | $ | - |
| $7,422 | $7,422 | $ | - | $ | - | |
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 URZ's (formerly NGE's) share price on the TSX Venture Exchange.
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