9. INVESTMENTS


	As at December 31,		As at December 31,
	2020		2019
Equity securities	$	282,356	$	86,252
Share purchase warrants		92,747		4,984
Total investments	$	375,103	$	91,236

The following table sets out details of the Company's investments:


	As at December 31, 2020
	Equity		Share purchase		Total
	securities		warrants		investments
Orla Mining Ltd.	$	113,460	$	47,329	$	160,789
Rupert Resources Ltd.		65,461		39,280		104,741
White Gold Corp.		13,419		—		13,419
Royal Road Minerals Ltd.		12,801		—		12,801
Other(i)		77,215		6,138		83,353
Total investments	$	282,356	$	92,747	$	375,103


	As at December 31, 2019
	Equity		Share purchase		Total
	securities		warrants		investments
Orla Mining Ltd.	$	27,125	$	4,399	$	31,524
White Gold Corp.		18,735		—		18,735
Other(i)		40,392		585		40,977
Total investments	$	86,252	$	4,984	$	91,236

Note:

(i)The balance is comprised of 17 (2019 — 16) investments that are each individually immaterial.

Disposal of Equity Securities

There were no disposals of equity securities in the year ended December 31, 2020. During the year ended December 31, 2019, the Company sold its interest in certain equity securities as they no longer fit its investment strategy. The fair value at the time of sale was $7.8 million and the Company recognized a cumulative net gain on disposal of $2.1 million which was transferred from other reserves to deficit in the consolidated balance sheets.