INVESTMENTS

9 Months Ended

Sep. 30, 2023

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The following is a summary of the activity in investments for the nine months ended September 30, 2023 and for the year ended December 31, 2022:

	As at		Additions/		Disposals/		Unrealized		Unrealized foreign		As at
	December 31,		transfers during		transfers during		gain on		exchange loss		September 30,
	2022		period		period		securities held		on securities held		2023
Marketable equity securities – fair value	$	1,133	$	33,907	$	—	$	15,651	$	(9,858)	$	40,833
Warrants		162		—		(162)		—		—		—
Total Investments	$	1,295	$	33,907	$	(162)	$	15,651	$	(9,858)	$	40,833

	As at		Additions/		Disposals/		Unrealized		Unrealized foreign		As at
	December 31,		transfers during		transfers during		loss on		exchange loss		December 31,
	2021		period		period		securities held		on securities held		2022
Marketable equity securities – fair value	$	1,644	$	—	$	—	$	(511)	$	—	$	1,133
Warrants		162		—		—		—		—		162
Total Investments	$	1,806	$	—	$	—	$	(511)	$	—	$	1,295

During the nine months ended September 30, 2023, Andes Corporation Minera S.A. (“ACMSA”), an Argentinian subsidiary of McEwen Copper, invested $33.9 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 nine months ended September 30, 2023, the Company recognized an unrealized gain on CEDEARs of $13.0 million and $15.7 million, respectively.