MARKETABLE EQUITY SECURITIES

6 Months Ended

Dec. 31, 2021

MARKETABLE EQUITY SECURITIES

MARKETABLE EQUITY SECURITIES

5. MARKETABLE EQUITY SECURITIES

As of December 31, 2021, our marketable equity securities include warrants to purchase up to 19,640,000 common shares of TriStar Gold Inc. Our marketable equity securities are measured at fair value (Note 13) each reporting period with any changes in fair value recognized in net income.

The fair value of our marketable equity securities decreased $1.3 million for the six months ended December 31, 2021,  increased $6.0 million and $1.4 million for the years ended June 30, 2021, and 2020, respectively, and decreased $6.8 million for the year ended June 30, 2019. These changes are included in Fair value changes in equity securities on our consolidated statements of operation and comprehensive income.

The carrying value of our marketable equity securities as of December 31, 2021, June 30, 2021 and 2020 was $1.7 million, $3.1 million and $17.9 million, respectively, and is included in Other assets on our consolidated balance sheets.