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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2021

INVESTMENTS

Summary of investments


		December 31, 2021		December 31, 2020
		$		$
Equities held (i)		28,578,556		21,089,997
Warrants held (ii)		3,363,902		—
Total Investments		31,942,458		21,089,997

Summary of equity securities held

The Company held the following equities as at December 31, 2021 and 2020:


						Fair Value
						December 31,
				Cost		2021
		Quantity		$		$
Exploits Discovery Corp.		13,229,466		8,462,704		7,276,206
Labrador Gold Corp.		12,555,556		8,850,000		11,300,000
Long Range		5,000,000		500,000		500,000
Novo Resources Corp.		6,645,000		16,014,450		9,502,350
Total Equities				33,827,154		28,578,556


						Fair Value
						December 31,
				Cost		2020
		Quantity		$		$
Exploits Discovery Corp. (i)		6,562,799		4,462,703		3,957,368
MetalsTech Limited		3,000,000		586,920		604,852
Novo Resources Corp.		6,944,444		16,736,110		16,527,777
Total Equities				21,785,733		21,089,997

(i)	The Exploits Discovery Corp. investment is subject to certain resale restrictions expiring December 8, 2021 and trading restrictions expiring April 8, 2021 and was discounted in the amount of $439,708.

Summary of warrants


						Fair Value
						December 31,
				Cost		2021
		Quantity		$		$
Exploits Discovery Corp.		6,666,667		—		837,381
Labrador Gold Corp.		6,277,778		—		2,526,521
Total Warrants				—		3,363,902

Summary of analysis of investments including related gains and losses


		Year ended December 31,
		2021		2020
		$		$
Investments, beginning of year		21,089,997		114,937
Investments received in private placement		—		16,736,110
Investments received in sale of exploration and evaluation assets		500,000		4,462,704
Purchases of investments		12,850,001		—
Disposition of investments		(1,313,462)		—
Realized gain on investments		192,114		—
Unrealized (loss) on investments		(1,376,192)		(223,754)
Investments, end of year		31,942,458		21,089,997