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Investment in Associates | 12 Months Ended
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Dec. 31, 2022
Disclosure of associates [abstract] |
Investment in Associates | 13. LONG-TERM INVESTMENT
The following table shows a continuity of the Company's investment in Maverix which was initially classified as an equity investee and subsequently as a long-term investment recorded at FVTOCI:
| Long-term investment | Investment in Associate |
At December 31, 2020 | $ | — |  | $ | 71,560 |  | $ | 71,560 |
Acquisition of shares in associate | — |  | 2,616 |  | 2,616 |
Equity pick-up from equity investees | — |  | 4,510 |  | 4,510 |
Dilution losses | — |  | (34) |  | (34) |
Adjustment for change in ownership interest | — |  | (22) |  | (22) |
Dividends received | — |  | (1,220) |  | (1,220) |
At December 31, 2021 | $ | — |  | $ | 77,410 |  | $ | 77,410 |
Equity pick-up from equity investees | — |  | 413 |  | 413 |
Dividends received | — |  | (325) |  | (325) |
Loss of significant influence | 124,677 |  | (77,498) |  | 47,179 |
Investment revaluation reserve fair value adjustment | (3,477) |  | — |  | (3,477) |
At December 31, 2022 | $ | 121,200 |  | $ | — |  | $ | 121,200 |
On January 19, 2023, Triple Flag Precious Metals Corp. ("Triple Flag") and Maverix completed a plan of arrangement in which Triple Flag issued a total of 45.1 million common shares and $86.7 million in cash to former Maverix shareholders (the "Maverix Sale"). As a result, the Company received $58.8 million in cash and 3,954,471 Triple Flag shares in exchange for its interest in Maverix comprised of 25,974,571 common shares. On January 26, 2023, the Company sold its entire interest in Triple Flag for net proceeds of $46.5 million after $1.3 million in commission fees. On March 31, 2022, the Company determined that it no longer held significant influence over Maverix due to declining to exercise its right to nominate a representative to serve as a director on Maverix’s Board of Directors and accordingly the Company no longer has the power to participate in the financial and operating policy decisions of Maverix. As a result, the Company recorded a $44.6 million gain concurrent with the redesignation of its investment in Maverix from Investment in Associate, accounted using the "equity method" whereby the Company recorded in income its ownership proportion of Maverix estimated earnings, into a long-term financial asset recorded at FVTOCI. The Company's share of Maverix income or loss was recorded based on its 17% interest up until March 31, 2022, representing the Company’s fully diluted ownership.

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- Definition The entire disclosure for interests in other entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2022-03-24 -Paragraph 1 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_1&doctype=Standard -URIDate 2022-03-24 + Details
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