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INVESTMENTS

6 Months Ended

Jun. 30, 2021

INVESTMENTS

INVESTMENTS

NOTE 5 INVESTMENTS

The following is a summary of the activity in investments for the six months ended June 30, 2021 and 2020:

As at

Additions/

Disposals/

Unrealized

Fair value

December 31,

transfers during

Net gain (loss) on

transfers during

(loss) on

June 30,

2020

period

securities sold

year

securities held

2021

Marketable equity securities

—

1,616

—

1,616

Warrants

—

161

—

161

Investments

—

1,777

—

1,777

As at

Additions/

Net

Disposals/

Unrealized

Fair value

December 31,

transfers during

(loss) on

transfers during

(loss) on

June 30,

2019

period

securities sold

year

securities held

2020

Marketable equity securities

1,885

—

(619)

(1,266)

—

(0)

On June 23, 2021, the Company closed the sale of two projects in Nevada, Limousine Butte and Cedar Wash, with Nevgold Corp. (“Nevgold”, and formerly Silver Mountain Mines Inc.). In addition to $0.5 million cash received as part of the consideration, the Company received 4,963,455 common shares and 2,481,727 warrants of Nevgold. Upon issuance, the common shares received by the Company represented 10% of the issued and outstanding shares of Nevgold. The warrants have an exercise price of $0.60 and are exercisable upon receipt until June 23, 2023. The common shares trade on the TSX Venture Exchange.

During the six months ended June 30, 2020, the Company sold marketable equity securities for proceeds of $1.3 million.

During the three months ended June 30, 2020, the Company sold marketable equity securities for proceeds of $1.2 million.