| Investments in associates and other investments |
10. | Investments in associates and other investments |
Investments in associates | | | | | | | 2025 | | 2024 | | | $ | | $ | | | | | | Balance – Beginning of year | | 12,183 | | 13,034 | Investment in associates(i) | | 2,550 | | 448 | Share of income (loss) and comprehensive income (loss), net | | 306 | | (1,665) | Gain on ownership dilution | | 53 | | 366 | Balance – End of year | | 15,092 | | 12,183 |
| (i) | On December 20, 2024, the Company acquired 1,790,000 units of Falco Resources Ltd. (“Falco”) at a price of $0.25 per unit for an aggregate amount of $0.4 million. On October 17, 2025, the Company acquired 6,250,000 units at a price of $0.32 per unit for an aggregate amount of $2.0 million. Each units consists of one common shares of Falco and one-half common share warrant. As at December 31, 2025, Osisko Development holds an interest of 15.9% in the outstanding shares of Falco. |
On February 11, 2025, the Company entered into an agreement with Electric Elements Mining Corp. (“EEM”) pursuant to which the Company transferred rights, title and interest in certain retained rights and metal rights. In consideration of the transfer and cancellation of the metals rights and related obligations, the Company received 1,000,000 common shares of EEM. As at December 31, 2025, Osisko Development holds an interest of approximately 43% in the outstanding shares of Electric Elements. Other investments | | | | | | | 2025 | | 2024 | | | $ | | $ | Fair value through profit or loss (warrants) | | | | | Balance – Beginning of year | | 370 | | 4 | Acquisitions | | 917 | | 298 | Change in fair value | | 173 | | 68 | Balance – End of year | | 1,460 | | 370 | | | | | | Fair value through other comprehensive income (shares) | | | | | Balance – Beginning of year | | 9,963 | | 19,389 | Acquisitions | | 1,200 | | — | Disposal | | (3,071) | | (3,060) | Change in fair value | | 5,944 | | (6,366) | Balance – End of year | | 14,036 | | 9,963 | Total | | 15,496 | | 10,333 |
Other investments comprise of common shares and warrants, mainly from publicly traded companies.
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