INVESTMENTS

3 Months Ended

Mar. 31, 2022

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The following is a summary of the activity in investments for the three months ended March 31, 2022:

	As at		Additions/		Net gain		Disposals/		Unrealized		As at
	December 31,		transfers during		(loss) on		transfers during		gain on		March 31,
	2021		period		securities sold		period		securities held		2022
Marketable equity securities – fair value		1,644		—		—		—		618		2,262
Warrants		162		—		—		—		—		162
Total Investments	$	1,806	$	—	$	—	$	—	$	618	$	2,424

On June 23, 2021, the Company closed the sale of two projects in Nevada, Limousine Butte and Cedar Wash, with Nevgold Corp. (“Nevgold”, and formerly Silver Mountain Mines Inc.). In addition to $0.5 million 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.