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LONG-TERM INVESTMENTS | 3 Months Ended
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Mar. 31, 2023
Long Term Investments |
7. | LONG-TERM INVESTMENTS
The Company classifies its long-term investments as designated at fair value through profit and loss under IFRS 9. Long-term investments are summarized as follows: For the three months ended March 31, 2023:
|  | Fair Value January 1, |  |  |  |  |  | Movements in foreign |  |  | Fair value adjustments |  |  | Fair Value March 31, |
|  | 2023 |  |  | Net Additions |  |  | exchange |  |  | for the period |  |  | 2023 |
Talisker Resources Common Shares |  | $ | 1,640 |  |  | $ | - |  |  | $ | 2 |  |  | $ | (293 | ) |  | $ | 1,349 |
Silver Wolf Exploration Ltd. Common Shares |  |  | 51 |  |  |  | 41 |  |  |  | (3 | ) |  |  | (10 | ) |  |  | 79 |
Endurance Gold Corp |  |  | 55 |  |  |  | - |  |  |  | (1 | ) |  |  | (16 | ) |  |  | 38 |
|  | $ | 1,746 |  |  | $ | 41 |  |  | $ | (2 | ) |  | $ | (319 | ) |  | $ | 1,466 |
Silver Wolf Exploration Ltd During the three months ended March 31, 2023, the Company received 500,000 common shares as part of the terms in the Option Agreement with Silver Wolf Exploration Ltd.. Upon acquisition, the fair value of these common shares and share purchase warrants were recorded as “Option Income” as a credit to exploration and evaluation assets (see Note 8). Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments. For the year ended December 31, 2022:
|  | Fair Value January 1, |  |  |  |  |  | Movements in foreign |  |  | Fair value adjustments |  |  | Fair Value December 31, |
|  | 2022 |  |  | Net Additions |  |  | Exchange |  |  | for the period |  |  | 2022 |
Talisker Resources Common Shares |  | $ | 3,880 |  |  | $ | - |  |  | $ | (134 | ) |  | $ | (2,106 | ) |  | $ | 1,640 |
Silver Wolf Exploration Ltd. Common Shares |  |  | 59 |  |  |  | 30 |  |  |  | (35 | ) |  |  | (3 | ) |  |  | 51 |
Endurance Gold Corp |  |  | - |  |  |  | 53 |  |  |  | (4 | ) |  |  | 6 |  |  |  | 55 |
|  | $ | 3,939 |  |  | $ | 83 |  |  | $ | (173 | ) |  | $ | (2,103 | ) |  | $ | 1,746 |
During the year ended December 31, 2022, the Company received 250,000 common shares as part of the terms in the Option Agreement with Silver Wolf Exploration Ltd. Upon acquisition, the fair value of these common shares and share purchase warrants were recorded as “Option Income” as a credit to exploration and evaluation assets (see Note 8). Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments. Endurance Gold Corp. During the year ended December 31, 2022, the Company received 200,000 common shares as part of the terms of the Option Agreement with Endurance Gold Corp. Upon acquisition, the fair value of these common shares were recorded as “Other Income” on the statement of profit and loss. Any subsequent revaluation under IFRS 9 at fair value through profit and loss will be recorded as a gain or loss on long-term investments. See Note 8 for full details of the Option Agreement.

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