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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Major components of tax expense (income) [abstract] |
Summary of income tax expense | Total income tax expense consists of:
| 2022 |  |  | 2021 |
Current tax expense | $ | 69,701 |  |  | $ | 90,174 |
Deferred tax (recovery) expense | (8,477) |  |  | 47,899 |
| $ | 61,224 |  |  | $ | 138,073 |
Summary of income tax expense attributable to geographical jurisdiction | Income tax expense attributable to each geographical jurisdiction for the Company is as follows:
| 2022 |  |  | 2021 |
Turkiye | $ | 30,366 |  |  | $ | 93,144 |
Canada | 16,934 |  |  | 36,622 |
Greece | 13,924 |  |  | 8,307 |
| $ | 61,224 |  |  | $ | 138,073 |
Summary of key factors affecting income tax expense | The key factors affecting income tax expense for the years are as follows:
| 2022 |  | 2021
Earnings from continuing operations before income tax | $ | 11,856 |  |  | $ | 157,464 |
Canadian statutory tax rate | 27% |  | 27%
Tax expense on net earnings at Canadian statutory tax rate | $ | 3,201 |  |  | $ | 42,515 |
Items that cause an increase (decrease) in income tax expense: |  |  |
Foreign income subject to different income tax rates than Canada | 1,032 |  |  | (14,322) |
Reduction in Greek income tax rate | — |  |  | (11,434) |
(Decrease) increase in Turkish income tax rate | (4,755) |  |  | 6,150 |
Turkish investment tax credits | (9,958) |  |  | (47,394) |
Québec mineral tax | 12,539 |  |  | 12,089 |
Non-tax effected operating losses | 1,910 |  |  | 9,477 |
Non-deductible expenses and other items | 9,194 |  |  | 33,406 |
Flow-through share renouncement | 4,388 |  |  | 6,397 |
Impairment and write-down of Stratoni assets | — |  |  | 13,359 |
Turkish inflation adjustment exemption benefit | (18,048) |  |  | (10,761) |
Foreign exchange related to the weakening of the Turkish Lira | 26,619 |  |  | 77,254 |
Foreign exchange and other translation adjustments | 14,079 |  |  | 13,636 |
Future and current withholding tax on foreign income dividends | 19,993 |  |  | 7,655 |
Other | 1,030 |  |  | 46 |
Income tax expense | $ | 61,224 |  |  | $ | 138,073 |
Summary of change in net deferred tax position | The change in the Company’s net deferred tax position was as follows:
| 2022 |  | 2021
Net deferred income tax liability |  |  |
Balance at January 1, | $ | 439,195 |  |  | $ | 414,554 |
Deferred income tax (recovery) expense in the statement of operations | (8,477) |  |  | 47,899 |
Deferred tax assets from acquisition of QMX Gold Corporation | — |  |  | (14,122) |
Deferred tax (recovery) expense related to discontinued operations | (20,039) |  |  | 1,897 |
Deferred tax impact on disposition of Tocantinzinho | — |  |  | (11,010) |
Deferred tax recovery in the consolidated statement of other comprehensive income | (460) |  |  | (23) |
Balance at December 31, | $ | 410,219 |  |  | $ | 439,195 |
Summary of temporary difference | The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary difference | Deferred tax assets | Deferred tax liabilities | Expense (Recovery)
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021
Property, plant and equipment | $ | — |  | $ | — |  | $ | 446,695 |  | $ | 490,868 |  | $ | (44,173) |  | $ | 37,727 |
Loss carryforwards | 17,532 |  | 19,166 |  | — |  | — |  | 1,634 |  | 22,206 |
Liabilities | 27,960 |  | 34,012 |  | — |  | — |  | 6,052 |  | (5,909) |
Future withholding taxes | — |  | — |  | 5,555 |  | — |  | 5,555 |  | (6,234) |
Other items | — |  | 6,882 |  | 3,461 |  | 8,387 |  | 2,416 |  | 2,006 |
| $ | 45,492 |  | $ | 60,060 |  | $ | 455,711 |  | $ | 499,255 |  | $ | (28,516) |  | $ | 49,796 |
Less: Discontinued operations | — |  | (7,632) |  | — |  | (27,671) |  | 20,039 |  | (1,897) |
Balance at December 31, | $ | 45,492 |  | $ | 52,428 |  | $ | 455,711 |  | $ | 471,584 |  | $ | (8,477) |  | $ | 47,899 |
Summary of unrecognized deferred tax assets |
Unrecognized deferred tax assets | 2022 |  | 2021
Tax losses | $ | 191,448 |  |  | $ | 192,880 |
Other deductible temporary differences | 99,835 |  |  | 85,142 |
| $ | 291,283 |  |  | $ | 278,022 |
Summary of unrecognized tax losses | The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
| 2022 | Expiry date |  | 2021 | Expiry date
Canadian net operating loss carryforwards | $ | 448,935 |  | 2029-2042 |  | $ | 490,774 |  | 2026-2041
Canadian capital losses | 229,146 |  | none |  | 240,081 |  | none
Greek net operating loss carryforwards | 177,188 |  | 2023-2027 |  | 125,401 |  | 2022-2026
Romanian net operating loss carryforwards | 1,837 |  | 2023-2029 |  | 1,817 |  | 2022-2028

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