The Company records both marketable securities and equity method investments at fair value. The Company has classified these investments on the Company’s unaudited consolidated balance sheets as marketable securities.

The following table summarizes the changes in fair value of the Company’s investment in equity securities as of June 30, 2025 and December 31, 2024:


	June 30, 2025		December 31, 2024
Balance, beginning of year	$	24,883	$	19,933
Investment in publicly traded companies	-		9,798
Divestment of publicly traded companies	(6,775)		(548)
Fair value gain/(loss) on marketable securities	(7,066)		(2,711)
Foreign exchange translation	647		(1,589)
Balance, end of period	11,689		24,883
Noncurrent marketable securities	(332)		(837)
Current marketable securities	$	11,357	$	24,046

The realized gains on marketable securities sold during the three and six months ended June 30, 2025 was $7,671. During the three months ended June 30, 2025, the Company sold 170,000,000 common shares of capital in Anfield Energy Inc. ("Anfield") arranged through a private agreement at a price of CAD $0.115 per share for aggregate proceeds of CAD $19,550. The realized gain on marketable securities sold during the three and six months ended June 30, 2024 was $0 and $252, respectively.

The unrealized loss on marketable securities for the six months ended June 30, 2025 and June 30, 2024 was $7,066 and $2,217, respectively. The unrealized gain on marketable securities for the three months ended June 30, 2025 was $2,810. The unrealized loss on marketable securities for the three months ended June 30, 2024 was

$1,396. These net realized and unrealized gains and losses are recorded in the consolidated statements of operations.