INVESTMENTS

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021:

	As at		Additions/				Disposals/		Unrealized		Fair value
	December 31,		transfers during		Net gain (loss) on		transfers during		loss on		December 31,
	2021		period		securities sold		year		securities held		2022
Marketable equity securities	$	1,644	$	—	$	—	$	—	$	(511)	$	1,133
Warrants		162		—		—		—		—		162
Investments	$	1,806	$	—	$	—	$	—	$	(511)	$	1,295

	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	$	—	$	1,778	$	—	$	—	$	28	$	1,806

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. 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, 2022, 2021 and 2020, the Company sold marketable equity securities for proceeds of $nil, $nil and $1.3 million, respectively.