INVESTMENTS

12 Months Ended

Dec. 31, 2021

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The Company’s investment portfolio consisted of marketable equity securities and warrants of certain publicly-traded companies.

The following is a summary of the activity in investments for the years ended December 31, 2021 and 2020:

	As at		Additions/				Disposals/		Unrealized		Fair value
	December 31,		transfers during		Net gain (loss) on		transfers during		gain on		December 31,
	2020		period		securities sold		year		securities held		2021
Marketable equity securities	$	—	$	1,616	$	—	$	—	$	28	$	1,644
Warrants		—		162		—		—		—		162
Investments	$	—	$	1,777	$	—	$	—	$	28	$	1,806

	As at		Additions/		Net		Disposals/		Unrealized		Fair value
	December 31,		transfers during		(loss) on		transfers during		(loss) on		December 31,
	2019		period		securities sold		year		securities held		2020
Marketable equity securities	$	1,885	$	—	$	(619)	$	(1,266)	$	—	$	—

On June 23, 2021, the Company closed the sale of two projects in Nevada, Limousine Butte and Cedar Wash, with Nevgold Corp. (“Nevgold”, formerly Silver Mountain Mines Inc.). In addition to $0.5 million of cash received as part of the consideration, the Company received 4,963,455 common shares and 2,481,727 warrants of Nevgold. Upon issuance, the common shares received by the Company represented 10% of the issued and outstanding shares of Nevgold. The warrants have an exercise price of $0.60 per share and are exercisable until June 23, 2023. The common shares trade on the TSX Venture Exchange.

During the years ended December 31, 2021, 2020 and 2019, the Company sold marketable equity securities for $nil, $1.3 million and $6.8 million, respectively.