XML 106 R43.htm IDEA: XBRL DOCUMENT v3.21.1
Investment in Associate (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of associates [abstract]  
Summary Of Significant Investments In Associates
Details of the Company’s investment in associate
a
s at December 31, 2020 and 2019 are as follows:
 
  
  
Principal
Activity
 
  
Principal
place of
business
 
  
% Ownership
interest
 
  
Quoted fair
value
(2)
 
  
Carrying amount
 
Name of equity accounted for investee
  
 
 
  
 
 
  
2020
 
  
2019
 
  
2020
 
  
2019
 
  
2020
 
  
2019
 
Solaris
(1)
  
 
Exploration
 
  
 
Ecuador
 
  
 
26.5
 
  
 
30.3
 
  
$
132,026
 
  
$
-
 
  
$
22,287
 
  
$
7,162
 
 
 
(1)
On June 30, 2019, the Company determined that Solaris was no longer a controlled subsidiary due to dilution of its interest to approximately 32% and the fact Solaris was self-sustaining for an extended period. On deconsolidation, the Company recorded its interest retained in Solaris at fair value.
 
(2)
The fair value of the Company’s interest in Solaris, which listed on the TSX Venture Exchange during 2020, was based on the quoted market price at December 31, 2020, which is a Level 1 input in terms of IFRS 13. A quoted market price was not available as at December 31, 2019, as Solaris was not a listed company.
Summary Of Significant Changes In Carrying Amount Of Investment Associates The following table summarizes the change in the carrying amount of the Company’s investment in Solaris:
 
  
  
2020
 
 
2019
 
 Balance as at January 1
  
$
7,162
 
 
$
-
 
 Acquisition of interest in Solaris
  
 
12,480
 
 
 
7,800
 
 Dilution gain (loss)
  
 
8,033
 
 
 
243
 
 Company’s share of net (loss) of Solaris
  
 
(5,388
) 
 
 
(881
) 
 Balance as at December 31
  
$
                    22,287
 
 
$
                    7,162
 
Summary Of Summarized Financial Information Of Associates
The summarized financial information below represents amounts in the associate’s consolidated financial statements prepared in accordance with IFRS.
 
    2020   2019   
Current assets
  $72,295   $6,191  
Non-current
assets
   20,652    24,391  
Total assets
   92,947    30,582  
Current liabilities
   3,141    456  
Non-current
liabilities
   544    1,575  
Total liabilities
   3,685    2,031  
Non-controlling
interest
   7,766    7,822  
Net assets of associate attributable to shareholders
   81,496    20,729  
Equinox Gold’s share of net assets
   21,585    6,287  
Other equity adjustments
   702    876  
Carrying amount
  $                    22,287   $                    7,162  
 
    2020   2019  
Revenue
  $-   $-  
Net loss
   20,369    1,003  
Net comprehensive loss
  $                    19,826   $                    1,003