INVESTMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| INVESTMENTS |
|
| Summary of investments |
| | | | | | | | | December 31, 2025 | | December 31, 2024 | Equities | | $ | 8,895,559 | | $ | 779,019 | Warrants | | | — | | | 147,000 | | | $ | 8,895,559 | | $ | 926,019 |
|
| Summary of analysis of investments including related gains and losses |
| | | | | | | | | Year Ended December 31 | | | 2025 | | 2024 | Investments, beginning of year | | $ | 926,019 | | $ | 3,596,592 | Disposal of investments | | | (752,634) | | | (1,097,814) | Realized gains (losses) on investments | | | 160,701 | | | (380,877) | Unrealized gains (losses) on investments | | | 979,160 | | | (1,191,882) | Transferred from investment in associates | | | 7,582,313 | | | — | Investments, end of year | | $ | 8,895,559 | | $ | 926,019 |
|
| Summary of equities |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | | Shares | | Cost | | Fair Value | | Shares | | Cost | | Fair Value | Exploits Discovery Corp. | | 4,157,466 | | $ | 2,659,473 | | $ | 311,809 | | 4,157,466 | | $ | 2,659,473 | | $ | 187,086 | Labrador Gold Corp. | | — | | | — | | | — | | 9,865,556 | | | 6,953,907 | | | 591,933 | Kirkland Lake Discoveries Corp. | | 28,612,500 | | | 2,861,250 | | | 8,583,750 | | — | | | — | | | — | | | | | $ | 5,520,723 | | $ | 8,895,559 | | | | $ | 9,613,380 | | $ | 779,019 |
|
| Schedule of movement in investment in associates |
| | | | Movement in carrying value | | Amount | Investment KLDC, December 31, 2023 | | $ | 2,861,250 | Share of loss of associate during the period | | | (1,306,722) | Loss on dilution of equity investment | | | (28,772) | Investment in KLDC, December 31, 2024 | | | 1,525,756 | Share of loss of associate during the period | | | (293,654) | Reversal of impairment loss | | | 1,000,237 | Gain on dilution of equity investment | | | 43,562 | Investment in KLDC, October 21, 2025 | | | 2,275,901 | Gain on derecognition and remeasurement of investment | | | 5,306,412 | Investments, October 22, 2025 (transferred to Investment at FVTPL) | | $ | 7,582,313 |
|
| Summary of warrants |
The Company held the following warrants as at December 31, 2024: | | | | | | | | | | | Quantity | | Cost | | Fair Value | Maritime Resources Corp. | | 1,532,457 | | $ | 174,500 | | $ | 147,000 |
|