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Investments in Associates (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of associates [abstract] |
Disclosure of Significant Investments in Associates | Details of the Company’s investments in associates as at December 31, 2023 and 2022 are as follows:
Associate | Principal activity |  | Principal place of business |  | Ownership interest (%)
|  |  |  |  | 2023 |  | 2022
Sandbox(1) | Royalties |  | Americas and Europe |  | 20.3 |  |  | 34.4 |
i-80 Gold(2) | Production |  | USA |  | — |  |  | 25.3 |
(1)There is no quoted fair value for the Company’s investment in Sandbox at December 31, 2023 and 2022 as Sandbox is not publicly listed. (2)The quoted fair value of the Company’s investment in i-80 Gold at December 31, 2022 was $169.9 million based on the quoted market price of the underlying shares of C$3.78 per share, which is a Level 1 fair value measurement.
Summary of Significant Changes in Carrying Amount of Investment Associates | The following table summarizes the changes in the carrying amounts of the Company’s investments in associates during the years ended December 31, 2023 and 2022:
| Note |  | i-80 Gold |  | Sandbox |  | Total
Balance – December 31, 2021 |  |  | $ | 125,313 |  |  | $ | — |  |  | $ | 125,313 |
Received as consideration in Sandbox Transaction | 5(b), 10(a) |  | — |  |  | 28,356 |  |  | 28,356 |
Additional shares acquired | 10(a) |  | — |  |  | 3,343 |  |  | 3,343 |
Share of net loss |  |  | (5,446) |  |  | (732) |  |  | (6,178) |
Balance – December 31, 2022 |  |  | 119,867 |  |  | 30,967 |  |  | 150,834 |
Dilution gain |  |  | 953 |  |  | — |  |  | 953 |
Share of net loss |  |  | (15,761) |  |  | (1,704) |  |  | (17,465) |
Sale of partial interest | 10(b) |  | (20,053) |  |  | — |  |  | (20,053) |
Reclassification of retained interest to marketable securities | 10(b) |  | (85,006) |  |  | — |  |  | (85,006) |
Balance – December 31, 2023 |  |  | $ | — |  |  | $ | 29,263 |  |  | $ | 29,263 |
Disclosure of Summarized Financial Information of Associates |
|  | Sandbox |  | i-80 Gold
At December 31 |  | 2023 |  | 2022 |  | 2022
Cash and cash equivalents |  | $ | 6,034 |  |  | $ | 3,811 |  |  | $ | 75,987 |
Other current assets |  | 315 |  |  | 2,804 |  |  | 34,555 |
Non-current assets |  | 69,756 |  |  | 71,993 |  |  | 567,403 |
Total assets |  | 76,105 |  |  | 78,608 |  |  | 677,945 |
Current liabilities |  | 414 |  |  | 86 |  |  | 48,837 |
Non-current liabilities |  | 16,039 |  |  | 15,975 |  |  | 232,455 |
Total liabilities |  | 16,453 |  |  | 16,061 |  |  | 281,292 |
Net assets (100%) |  | $ | 59,652 |  |  | $ | 62,547 |  |  | $ | 396,653 |
Equinox Gold’s share of net assets(1) |  | $ | 20,531 |  |  | $ | 21,528 |  |  | $ | 100,319 |
Adjustments to Equinox Gold’s share of net assets |  | 8,732 |  |  | 9,439 |  |  | 19,548 |
Carrying amount |  | $ | 29,263 |  |  | $ | 30,967 |  |  | $ | 119,867 |
(1)At December 31, 2023, t he Company’s share of net assets of Sandbox is based on its 34.4% equity interest in Sandbox as of September 30, 2023 (2022 – 34.4% equity interest as of September 30, 2022). 10. INVESTMENTS IN ASSOCIATES (CONTINUED)
|  | Sandbox |  | i-80 Gold
Years ended December 31 |  | 2023 |  | 2022 |  | 2022
Revenue |  | $ | 1,845 |  |  | $ | 532 |  |  | $ | 25,311 |
Operating expense |  | (4,620) |  |  | (640) |  |  | (75,517) |
Loss from operations |  | (2,775) |  |  | (108) |  |  | (50,206) |
Other (expense) income |  | (819) |  |  | (788) |  |  | 10,752 |
Income tax recovery (expense) |  | 696 |  |  | (1,232) |  |  | 17,920 |
Net loss from continuing operations (100%) |  | (2,898) |  |  | (2,128) |  |  | (21,534) |
Net income from discontinued operations (100%) |  | — |  |  | — |  |  | 49 |
Net loss and total comprehensive loss (100%) |  | $ | (2,898) |  |  | $ | (2,128) |  |  | $ | (21,485) |
Equinox gold’s share of net loss and total comprehensive loss(1) |  | $ | (997) |  |  | $ | (732) |  |  | $ | (5,446) |
Adjustments to Equinox Gold’s share of net loss and total comprehensive loss |  | (707) |  |  | — |  |  | — |
Equinox Gold’s share of net loss and total comprehensive loss |  | $ | (1,704) |  |  | $ | (732) |  |  | $ | (5,446) |
(1)The Company’s share of net loss and total comprehensive loss of Sandbox for the twelve months ended September 30, 2023 is based on its 34.4% equity interest in Sandbox during such period (2022 – 34.4%).

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