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Investments
12 Months Ended
Dec. 31, 2022
Investment in Marketable Securities [Abstract]  
Investment Holdings INVESTMENTS
Equity Securities
    The Company makes strategic investments in equity securities of silver and gold exploration, development and royalty and streaming companies.
At December 31, 2022
In thousandsCostGross
Unrealized
Losses
Gross
Unrealized
Gains
Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$70,560 $(38,528)$— $32,032 
Integra Resources Corp.9,455 (7,115)— 2,340 
Avino Silver & Gold Mines Ltd13,720 (4,199)— 9,521 
Other2,233 (1,974)— 259 
Equity securities$95,968 $(51,816)$— $44,152 
At December 31, 2021
In thousandsCostGross
Unrealized
Losses
Gross
Unrealized
Gains
Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$128,710 $(4,499)$— $124,211 
Integra Resources Corp.9,455 (1,469)— 7,986 
Equity securities$138,165 $(5,968)$— $132,197 
Changes in the fair value of the Company’s investment in equity securities are recognized each period in the Consolidated Statement of Comprehensive Income (Loss) in Fair value adjustments, net. See Note 14 -- Fair Value Measurements for additional details.
On June 28, 2022, the Company entered into an agreement to sell 5.0 million shares of common stock of Victoria Gold (“Victoria Gold Common Shares”) at a price of $8.34 per Victoria Gold Common Share, which settled on July 5, 2022 for net proceeds of $40.5 million. The Company realized a loss of $15.6 million on the sale of the Victoria Gold Common Shares, which are recognized in Fair value adjustments, net. In January 2023, the Company sold its remaining 6.0 million Victoria Gold Common Shares at a price of $6.70 per share, for net proceeds of $39.8 million.
On March 21, 2022, the Company closed the sale of its La Preciosa silver project. In connection with the closing of the transaction, the Company received 14,000,000 common shares of Avino Silver & Gold Mines Ltd. (“Avino”) (representing approximately 12.0% of Avino’s outstanding common shares). See Note 21 -- Dispositions for additional details on the sale.