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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2023

INVESTMENTS

Summary of investments

​

​	​	​	​	​
​		December 31, 2023	​	December 31, 2022
​		$		$
Equities held (i)	​	3,408,092		7,474,287
Warrants held (ii)	​	188,500		26,868
Total Investments	​	3,596,592		7,501,155

Summary of equities

The Company held the following equities as at December 31, 2023:

​

​	​	​	​	​	​	​
​		​			​	Fair Value
​	​	​	​	​	​	December 31,
​	​	​	​	Cost	​	2023
​		Quantity		$		$
Exploits Discovery Corp.		13,229,466	​	8,462,704		1,587,536
Labrador Gold Corp.		12,555,556	​	8,850,000		1,820,556
Long Range Exploration Corporation		5,000,000	​	500,000		—
Total Equities	​	​	​	17,812,704		3,408,092

​

​	​	​	​	​	​	​
​		​			​	Fair Value
​	​	​	​	​	​	December 31,
​	​	​	​	Cost	​	2022
​		Quantity		$		$
Exploits Discovery Corp.		13,229,466	​	8,462,704		3,770,398
Labrador Gold Corp.	​	12,555,556	​	8,850,000	​	3,703,889
Long Range Exploration Corporation	​	5,000,000	​	500,000	​	—
Total Equities		​	​	17,812,704		7,474,287

Summary of warrants

​

​	​	​	​	​	​	​
​		​			​	Fair Value
​	​	​	​	​	​	December 31,
​	​	​	​	Cost	​	2023
​		Quantity		$		$
Maritime Resources Corp. (1)		15,324,571	​	174,500		188,500
Total Warrants	​	​	​	174,500		188,500

(1) Each warrant is exercisable into one common share of Maritime Resources Corp. at a price of $0.07 per warrant until August 14, 2025, subject to extension to August 14, 2026 in the event that the Initial Maturity Date of the notes is extended to the Extended Maturity Date as defined in Note 8.

​

​	​	​	​	​	​	​
​		​				Fair Value
​	​	​	​	​	​	December 31,
​	​	​	​	Cost	​	2022
​		Quantity		$		$
Exploits Discovery Corp.	​	6,666,667	​	—	​	10,331
Labrador Gold Corp.	​	6,277,778	​	—	​	16,537
Total Warrants		​		—		26,868

Summary of analysis of investments including related gains and losses

​

​	​	​	​	​
​	​	Year ended December 31,
​		2023		2022
​	​	$	​	$
Investments, beginning of year	​	7,501,155	​	31,942,458
Purchases of investments	​	174,500	​	—
Proceeds on disposal of investments	​	—		(4,827,266)
Realized losses on investments	​	—		(4,675,084)
Unrealized losses on investments	​	(4,079,063)		(14,938,953)
Investments, end of year	​	3,596,592		7,501,155

​

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