INVESTMENTS

6 Months Ended

Jun. 30, 2023

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The following is a summary of the activity in investments for the six months ended June 30, 2023:

	As at		Additions/		Disposals/		Unrealized		Unrealized foreign		As at
	December 31,		transfers during		transfers during		gain on		exchange loss		June 30,
	2022		period		period		securities held		on securities held		2023
Marketable equity securities – fair value	$	1,133	$	26,855	$	—	$	3,010	$	(1,810)	$	29,188
Warrants		162		—		(162)		—		—		—
Total Investments	$	1,295	$	26,855	$	(162)	$	3,010	$	(1,810)	$	29,188

In May 2023, Andes Corporation Minera S.A. (“ACMSA”), an Argentinian subsidiary of McEwen Copper, invested $26.9 million in equity securities trading on the Bolsa de Comercio de Buenos Aires (“BCBA”) exchange as Argentinian depositary receipts (“CEDEARs”) and denominated in ARS. During the three and six months ended June 30, 2023, the Company recognized an unrealized gain on CEDEARs of $2.7 million.