v3.25.1
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities

As of December 31, 2024 and 2023, the Company’s financial instruments were carried at fair value and were measured at fair value using Level 3 inputs, with the exception of cash, accounts receivable, foreign tax receivable, notes payable, mining concession duties payable, which are measured at amortized cost. A description of the valuation of the Level 3 inputs is discussed in Note 7.

 

 

 

 

 

 

Quoted Prices
in Active
Markets For
Identical
Assets

 

 

Significant
Other
Observable
Inputs

 

 

Significant
Unobservable
Inputs

 

Fair Value Measurement at December 31, 2024:

 

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Liabilities

 

$

892,167

 

 

 

-

 

 

 

-

 

 

$

892,167

 

Totals

 

$

892,167

 

 

$

-

 

 

$

-

 

 

$

892,167

 

Fair Value Measurement at December 31, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Liabilities

 

$

1,797,341

 

 

 

-

 

 

 

-

 

 

$

1,797,341

 

Totals

 

$

1,797,341

 

 

$

-

 

 

$

-

 

 

$

1,797,341

 

 

The fair values of other financial assets and liabilities were assumed to approximate their carrying values due to their short-term nature and historically negligible credit losses, and are classified within Level 1 of the fair value hierarchy.