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Investments

12 Months Ended

Dec. 31, 2024

Investments

Note 6 - Investments

Investments comprised the following:


			At December 31,				At December 31,
			2024				2023
Equity investments at FVTOCI			$	324.8			$	246.4
Warrants				0.7				8.1
			$	325.5			$	254.5

Equity Investments at FVTOCI

Equity investments comprised the following:


			At December 31,				At December 31,
			2024				2023
G Mining Ventures			$	133.8			$	47.6
Labrador Iron Ore Royalty Corporation ("LIORC")				127.3				152.7
Other				63.7				46.1
			$	324.8			$	246.4

During the year ended December 31, 2024, the Company disposed of equity investments with a cost of $22.2 million (2023 – $1.5 million) for gross proceeds of $20.9 million (2023 – $2.0 million).

Subsequent to year-end, on February 3, 2025, the Company acquired subscription receipts of Discovery for a purchase price of $48.6 million (C$70.9 million), as referenced in Note 4 (c).

The change in the fair value of equity investments recognized in other comprehensive (loss) income for the years ended December 31, 2024 and 2023 were as follows:


			2024				2023
Net gain on changes in the fair value of equity investments at FVTOCI			$	46.6			$	8.4
Income tax expense in other comprehensive (loss) income				(6.2)				(1.1)
Gain on changes in the fair value of equity investments at FVTOCI, net of income tax			$	40.4			$	7.3