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LONG-TERM INVESTMENTS
 6 Months Ended
Jun. 30, 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: 

 

 

 

Fair Value

December 31,

 

 

Net 

 

 

Movements in foreign

 

 

Fair value adjustments

 

 

Fair Value

June 30,

 

 

 

2022

 

 

 Additions

 

 

exchange

 

 

for the period

 

 

2023

 

Talisker Resources Common Shares

 

$1,640

 

 

$-

 

 

$28

 

 

$(589)

 

$1,079

 

Silver Wolf Exploration Ltd. Common Shares

 

 

51

 

 

 

36

 

 

 

2

 

 

 

-

 

 

 

89

 

Endurance Gold Corp. Common Shares

 

 

55

 

 

 

-

 

 

 

2

 

 

 

(15)

 

 

42

 

 

 

$1,746

 

 

$36

 

 

$32

 

 

$(604)

 

$1,210

 

 

Silver Wolf Exploration Ltd.

 

During the six months ended June 30, 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 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.

 

See Note 8 for full details of the Option Agreement.