EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

6 Months Ended

Jun. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

The following tables summarize the carrying amounts, including changes therein, of our equity method investments:


	Three Months Ended June 30, 2023
	Sayona Mining		Sayona Quebec		Atlantic Lithium		Total
Balance at March 31, 2023	$	44,187,864	$	50,548,382	$	10,659,620	$	105,395,866
Additional investments	—		16,085,029		41,021		16,126,050

Gain on dilution of equity method investments(1)	3,975,337		—		—		3,975,337
Loss from equity method investments	(1,012,961)		(1,335,087)		(327,097)		(2,675,145)
Foreign currency translation adjustment of equity method investments	133,008		1,246,604		(161,594)		1,218,018
Balance at June 30, 2023	$	47,283,248	$	66,544,928	$	10,211,950	$	124,040,126

____________________________________________________________________________

(1)Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, as discussed above, which reduced our ownership interest in Sayona Mining.


	Six Months Ended June 30, 2023
	Sayona Mining		Sayona Quebec		Atlantic Lithium		Total
Balance at December 31, 2022	$	44,619,404	$	39,763,008	$	11,265,390	$	95,647,802
Additional investments	101,616		28,074,937		41,021		28,217,574

Gain on dilution of equity method investments(1)	7,249,869		—		—		7,249,869
Loss from equity method investments	(2,054,245)		(2,604,490)		(758,774)		(5,417,509)
Foreign currency translation adjustment of equity method investments	(2,633,396)		1,311,473		(335,687)		(1,657,610)
Balance at June 30, 2023	$	47,283,248	$	66,544,928	$	10,211,950	$	124,040,126

___________________________________________________________________________

(1)Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, as discussed above, which reduced our ownership interest in Sayona Mining.


	Three Months Ended June 30, 2022
	Sayona Mining		Sayona Quebec		Atlantic Lithium		Total
Balance at March 31, 2022	$	16,945,836	$	26,193,877	$	14,583,345	$	57,723,058
Additional investments	1,029,617		6,979,080		—		8,008,697


Loss from equity method investments	(857,847)		(125,759)		(171,773)		(1,155,379)
Foreign currency translation adjustment of equity method investments	—		—		(342,767)		(342,767)
Balance at June 30, 2022	$	17,117,606	$	33,047,198	$	14,068,805	$	64,233,609


	Six Months Ended June 30, 2022
	Sayona Mining		Sayona Quebec		Atlantic Lithium		Total
Balance at December 31, 2021	$	18,256,488	$	25,215,851	$	15,400,371	$	58,872,710
Additional investments	1,075,921		8,978,983		—		10,054,904

Loss from equity method investments	(2,279,318)		(1,192,396)		(1,073,168)		(4,544,882)
Foreign currency translation adjustment of equity method investments	64,515		44,760		(258,398)		(149,123)
Balance at June 30, 2022	$	17,117,606	$	33,047,198	$	14,068,805	$	64,233,609


	As of June 30, 2023
	Sayona Mining		Sayona Quebec	Atlantic Lithium
Fair value of equity investments where market values from publicly traded entities are readily available	$	140,978,713	Not publicly traded	$	18,239,189