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INCOME TAXES | 12 Months Ended
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Dec. 31, 2023
Text block [abstract] |
INCOME TAXES |
19. | INCOME TAXES
A reconciliation of income taxes at statutory rates with the reported taxes is as follows:
|  | 2023 |  |  | 2022 |
Net income (loss) for the year |  |  | $    68,756 |  |  |  | $   (61,310) |
Statutory rate |  |  | 27.00% |  |  |  | 27.00% |
Expected income tax expense (recovery) |  |  | $    18,564 |  |  |  | $   (16,554) |
Permanent differences |  |  | 7,617 |  |  |  | 9,662 |
Impact of renunciation of flow-through shares |  |  | 1,328 |  |  |  | 30 |
Impact of (gain) loss recognized in other comprehensive income |  |  | 328 |  |  |  | (17) |
Impact of loss on convertible debt |  |  | 13,900 |  |  |  | 422 |
Impact on deconsolidation of IsoEnergy |  |  | (27,361) |  |  |  | - |
Change in unrecognized deductible temporary differences |  |  | (15,778) |  |  |  | 5,412 |
Other |  |  | (10) |  |  |  | 3 |
Deferred income tax recovery |  |  | $    (1,412) |  |  |  | $    (1,042) |
The Company’s income tax recovery is comprised of the following:
|  | 2023 |  |  | 2022
Deferred income tax recovery |  | $ | (1,412) |  |  | $ | (1,042) |
Total |  | $ | (1,412) |  |  | $ | (1,042) |
The Company’s deferred tax items recognized in OCI during the year:
|  | 2023 |  |  | 2022
Change in fair value of convertible debentures attributable to the change in credit risk |  | $ | (328) |  |  | $ | 17 |
Change in fair value of marketable securities |  |  | (121) |  |  |  | (478) |
Total |  | $ | (449) |  |  | $ | (461) |
The tax effects of temporary differences between amounts recorded in the Company’s accounts and the corresponding amounts as calculated for income tax purposes give rise to the following deferred tax (assets) and liabilities:
|  | 2023 |  |  | 2022
Exploration and evaluation assets |  | $ | 46,658 |  |  | $ | 39,120 |
Convertible debentures |  |  | 1,559 |  |  |  | 66 |
Non-capital losses |  |  | (73,070) |  |  |  | (38,333) |
Investment in associate |  |  | 24,853 |  |  |  | - |
Share issuance costs |  |  | - |  |  |  | (208) |
Equipment |  |  | - |  |  |  | (79) |
Marketable securities |  |  | - |  |  |  | 301 |
Net deferred tax liabilities |  | $ | - |  |  | $ | 867 |
Movement in the Company’s deferred tax liability balance in the year is as follows:
|  | 2023 |  |  | 2022
Opening balance |  | $ | 867 |  |  | $ | 2,536 |
Recognized in income tax expense (recovery) |  |  | 657 |  |  |  | (996) |
Recognized in OCI/equity |  |  | (449) |  |  |  | (673) |
Disposal due to deconsolidation of IsoEnergy |  |  | (1,075) |  |  |  | - |
Net deferred tax liabilities |  | $ | - |  |  | $ | 867 |
The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows:
Temporary Differences |  | 2023 |  |  |  |  |  | Expiry Date Range |  |  |  | 2022 |  |  | Expiry Date Range
Non-capital losses available for future periods |  | $ | 96,732 |  |  |  |  |  |  | 2029 to 2043 |  |  |  | $ | 144,633 |  |  | 2029 to 2042
Share issuance costs |  |  | 13,748 |  |  |  |  |  |  | - |  |  |  |  | 7,156 |  |  | -
Equipment |  |  | 460 |  |  |  |  |  |  | - |  |  |  |  | 911 |  |  | -
Donations |  |  | 196 |  |  |  |  |  |  | 2024 to 2028 |  |  |  |  | 153 |  |  | 2023 to 2027
Tax attributes are subject to review, and potential adjustment, by tax authorities.

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