NORTH077 Annual Report 2020 V5.2 DIGITAL

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NORTHERN MINERALS _ ANNUAL REPORT 2021
17. Share-based Payments (continued)
NORTHERN MINERALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
The Black-Scholes Option Pricing Model assumes that the securities subject to the valuation can be
sold on a secondary market. The terms and conditions of the Options and Share Plan shares state that
no application will be made for the Shares to be listed for official quotation on ASX, until certain
milestones are met.
The expected life of the options is based on historical data and is not necessarily indicative of exercise
patterns that may occur. The expected volatility reflects the assumption that the historical volatility is
indicative of future trends, which may also not necessarily be the actual outcome. No other features of
options granted were incorporated into the measurement of fair value.
The following tables list the inputs to the model used for the years ended 30 June 2021 and 2020.
There were no Share Plan shares issued during the year ended 30 June 2021 and 30 June 2020.
The following relates to the unlisted options and performance rights issued during the year ended 30
June 2021 and 30 June 2020:-
Issue Date
Vesting
Date
Number
Issued
Grant
Date
Stock
price
at
Grant
Date
Issue
Price –
at date
of issue
Risk
Free
Rate
Volatility
Value Per
Option/Right
22/02/2021 22/02/2024 153,061,226 22/02/2021 $0.048 n/a n/a n/a $0.003
02/03/2020 02/03/2020 34,000,000 02/03/2020 $0.034 $0.045 0.5% 65% $0.014
04/11/2019 Various 914,000 04/11/2019 $0.051 Nil Nil Nil $0.051
18. Auditor’s Remuneration
Nexia Perth Audit Services Pty Ltd
2021
$
2020
$
During the year the following fees were paid or payable for services
provided by the auditor:
Audit and Other Assurance Services
Audit and review of financial reports under the Corporations Act
2001
131,476 132,724
Other assurance services - audit of government grant final report 3,470 1,970
Total remuneration of auditors 134,946 134,694
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