INVESTMENTS

12 Months Ended

Dec. 31, 2018

Investments Abstract

INVESTMENTS

The investments balance consists of:

		At December 31		At December 31		At January 1
(in thousands)		2018		2017		2017
Investments:
Debt instrument	$	-	$	37,807	$	-
Equity instruments		2,255		7,359		5,049
	$	2,255	$	45,166	$	5,049
Investments-by balance sheet presentation:
Current	$	-	$	37,807	$	-
Long-term		2,255		7,359		5,049
	$	2,255	$	45,166	$	5,049

The investments continuity summary is as follows:

(in thousands)		2018		2017
Balance-January 1	$	45,166	$	5,049
Purchases
Equity instruments		-		200
Debt instruments		-		40,000
Sales / redemptions
Debt instruments		(37,500)		(2,500)
Fair value (loss) gain to profit and loss		(5,411)		2,417
Balance-December 31	$	2,255	$	45,166

Equity instruments consists of shares and warrants in publicly-traded companies. Debt instruments at December 31, 2017 consisted of a 5 year redeemable guaranteed investment certificate (“GIC”) with guaranteed early redemption rates of interest ranging between 0.25% and 1.60% per annum. The GIC was fully redeemed in 2018.

Investment purchases, sales, impairments and other movements

During 2018, the Company redeemed GIC debt instruments of $37,500,000.

During 2017, the Company purchased GIC debt instruments at a cost of $40,000,000 and it purchased additional equity instruments in Skyharbour Resources Ltd (“Skyharbour”) at a cost of $200,000.

During 2017, the Company redeemed GIC debt instruments of $2,500,000.