INVESTORS
Investments at fair value through profit and loss
At October 31, 2023, the Company’s investment portfolio consisted of eleven publicly traded investments and fourteen privately held investments for a total fair value of $18,410,264 (January 31, 2023 – $29,601,717).
Public investments
At October 31, 2023, the Company had eleven publicly traded investments with a total fair value of $3,537,250.
| Public Issuer | Note | Security description | Cost | Estimated Fair value | % of FV |
| AmmPower Corp. | (i,ii) | 36,411,925 common shares | $ 12,672,794 | $ 2,368,475 | 67.0% |
| 1,000,000 warrants expire Mar 11, 2024 | |||||
| EV Techonogy Group Ltd. | (ii) | 1,428,286 common shares | 1,541,816 | 14,283 | 0.4% |
| Gamesquare Esport Inc. | 587 common shares | 6,698 | 1,523 | 0.0% | |
| Consolidated Lithium Metals Inc. | (ii) | 19,033,333 common shares | 784,781 | 964,267 | 27.3% |
| 2,000,000 warrants expire Nov 25, 2023 | |||||
| Medivolve Inc. | (ii) | 1,606,787 warrants | 648,875 | 34,707 | 1.0% |
| O2Gold Inc. | 191,600 common shares | 274,865 | 4,790 | 0.1% | |
| Q-Gold Resources Ltd. | (i,ii) | 6,531,667 common shares | 782,901 | 130,633 | 3.7% |
| Silo Wellness Inc. | 69,125 common shares | 247,712 | 691 | 0.0% | |
| Xander Resources Inc. | 7,142,857 warrants expire April 29, 2025 | 99,451 | 17,857 | 0.4% | |
| Total of 2 other investments | (iii) | 629,769 | 24 | 0.0% | |
| Total public investments | $ 17,689,662 | $ 3,537,250 | 100.0% |
Note
(i) The Company owns, on a partially diluted basis, at least a 10% interest in the investee as at October 31, 2023.
(ii) A director and/or officer of the Company is a director and/or officer of the investee corporation as at October 31, 2023.
(iii) Total other investments held by the Company are not individually broken out as at October 31, 2023. Directors and officers may hold investments personally.
Private investments
At October 31, 2023, the Company had fourteen privately held investments with a total estimated fair value of $14,873,014.
| Private Issuer | Note | Security description | Cost | Estimated Fair value | % of FV |
| African Thunder Platinum Limited | (i,ii,iii) | 72,440,807 common shares | $ 15,244,893 | $ – | 0.0% |
| (v) | 46,230,979 options | 0.0% | |||
| (v) | 46,230,979 options | 0.0% | |||
| (v) | 55,477,175 options | 0.0% | |||
| (v) | 64,723,371 options | 0.0% | |||
| Brazil Potash Corp. | (iii) | 2,512,406 common shares | 4,430,626 | 13,939,832 | 93.6% |
| International Cobalt Inc. | (i,ii) | 66.7% of interest | 980,000 | 17,232 | 0.1% |
| NeXtGen Biologics Inc. | (iii) | 149,253 common shares | 633,950 | 633,950 | 4.3% |
| Exploraciones De Sl Cordero S.A De C.V. | (iii) | 2,820,000 common shares | 282,000 | 282,000 | 1.9% |
| Total of 9 other investments | (iv) | 2,786,622 | – | 0.0% | |
| $ 24,358,091 | $ 14,873,014 | 100.0% |
Note
(i) The Company owns 66.7% of the outstanding common shares of International Cobalt Inc. and 16.9% of the outstanding common shares and voting rights of African Thunder Platinum Limited (“ATPL”). There are no contractual arrangements, financial support, or other restrictions with these companies. Refer to Note 2 for details relating to the exemption to consolidating particular subsidiaries and the exemption from accounting for associates using the equity method for investment entities.
(ii) The Company owns, on a partially diluted basis, at least a 10% interest in the investee as at October 31, 2023.
(iii) A director and/or officer of the Company is a director and/or officer of the investee corporation as at October 31, 2023.
(iv) Total other investments held by the Company are not individually broken out as at October 31, 2023. Directors and officers may hold investments personally.
(v) The option period is defined as the period beginning on the earlier of (i) the date upon which proceeds of sale or disposal of all, or part of ATPL assets except Kalplats project; (ii) the date upon which shareholders enter into an agreement to sell all ATPL assets to a third party, and (iii) the date upon which ATPL enters into an agreement with an arm’s length third party to sell its rights to Kalplats Project, and ending on the date which is three years thereafter. As none of these conditions have been met, these options are not presently exercisable.