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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Taxes [abstract] |
Schedule of Income Tax Reconciliation |
|  | Years ended December 31,
|  | 2020 |  | 2019
Net income before tax |  | $ | 58,955 |  | $ | 43,971
Statutory tax rate |  |  | 27.0% |  |  | 27.0%
Anticipated income tax at statutory rates |  |  | 15,918 |  |  | 11,872
Non-deductible expenditures |  |  | 1,326 |  |  | 2,507
Differences between Canadian and foreign tax rates |  |  | 1,284 |  |  | 1,353
Changes in estimate |  |  | (192) |  |  | 856
Effect of change in tax rates |  |  | 436 |  |  | 345
Inflation adjustment |  |  | (10,634) |  |  | (12,158)
Impact of foreign exchange |  |  | 15,081 |  |  | 11,773
Changes in deferred tax assets not recognized |  |  | 5,909 |  |  | (2,254)
Mining taxes |  |  | 4,656 |  |  | 3,241
Withholding taxes |  |  | 3,670 |  |  | 2,367
Other items |  |  | (52) |  |  | 273
Total income tax expense |  | $ | 37,402 |  | $ | 20,175
Total income tax represented by: |  |  |  |  |  |
Current income tax expense |  | $ | 38,818 |  | $ | 32,631
Deferred tax expense |  |  | (1,416) |  |  | (12,456)
|  | $ | 37,402 |  | $ | 20,175
Schedule of Current and Deferred Taxes |
|  | Years ended December 31,
|  | 2020 |  | 2019
Current tax expense |  |  |  |  |  |
Current taxes on profit for the year |  | $ | 38,603 |  | $ | 32,246
Changes in estimates related to prior years |  |  | 215 |  |  | 385
|  | $ | 38,818 |  | $ | 32,631
Deferred tax expense |  |  |  |  |  |
Origination and reversal of temporary differences and foreign exchange rate |  | $ | (1,500) |  | $ | (13,678)
Changes in estimates related to prior years |  |  | (396) |  |  | 479
Effect of differences in tax rates |  |  | 44 |  |  | 398
Effect of changes in tax rates |  |  | 436 |  |  | 345
|  | $ | (1,416) |  | $ | (12,456)
Total Tax expense |  | $ | 37,402 |  | $ | 20,175
Schedule of Deferred Tax Assets and Liabilities |
|  | December 31, |  | December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |  |  |
Reclamation and closure cost obligation |  | $ | 13,080 |  | $ | 9,530
Carried forward tax loss |  |  | 17,729 |  |  | 14,020
Accounts payable and accrued liabilities |  |  | 16,437 |  |  | 7,731
Deductibility of resource taxes |  |  | 3,414 |  |  | 3,140
Lease obligations |  |  | 5,769 |  |  | 5,317
Other |  |  | 127 |  |  | 1
Total deferred tax assets |  | $ | 56,556 |  | $ | 39,739
Deferred tax liabilities: |  |  |  |  |  |
Mineral properties |  | $ | (55,134) |  | $ | (44,825)
Mining and foreign withholding taxes |  |  | (4,862) |  |  | (5,281)
Equipment and buildings |  |  | (1,928) |  |  | (3,621)
Convertible debenture |  |  | (1,544) |  |  | (1,857)
Inflation |  |  | (11,210) |  |  | (4,939)
Other |  |  | (1,377) |  |  | (131)
Total deferred tax liabilities |  | $ | (76,055) |  | $ | (60,654)
Net deferred tax liabilities |  | $ | (19,499) |  | $ | (20,915)
|  | 2020 |  | 2019
Classification: |  |  |  |  |  |
Deferred tax assets |  | $ | - |  | $ | -
Deferred tax liabilities |  |  | (19,499) |  |  | (20,915)
Net deferred tax liabilities |  | $ | (19,499) |  | $ | (20,915)
|  | 2020 |  | 2019
At January 1 |  | $ | 20,915 |  | $ | 31,444
Deferred income tax (recovery) expense through income statement |  |  | (1,416) |  |  | (12,456)
Deferred income tax expense through equity |  |  | - |  |  | 1,927
At December 31 |  | $ | 19,499 |  | $ | 20,915
Schedule of Unrecognized Deductible Temporary Difference and Unused Tax Losses |
|  | December 31, |  | December 31,
|  | 2020 |  | 2019
Unrecognized deductible temporary differences and unused tax losses: |  |  |  |  |  |
Non capital losses |  | $ | 90,192 |  | $ | 72,156
Provisions |  |  | 14,488 |  |  | 5,074
Share issue costs |  |  | 3,894 |  |  | 2,174
Lease obligation |  |  | 555 |  |  | 656
Derivative liabilities |  |  | 1,111 |  |  | 894
Capital losses |  |  | 255 |  |  | 2,496
Investments in equity securities and associates |  |  | 1,534 |  |  | 1,397
Unrecognized deductible temporary differences |  | $ | 112,029 |  | $ | 84,847
|  | December 31, |  | December 31,
|  | 2020 |  | 2019
Mexico |  | $ | 248,880 |  | $ | 198,214
Peru |  |  | 62,414 |  |  | 54,618
Schedule of Tax Losses Expiry Dates |
|  |  |  |  | December 31, |  |  |  |  | December 31,
|  |  | Year of expiry |  | 2020 |  |  | Year of expiry |  | 2019
Canada |  |  | 2026 - 2040 |  | $ | 90,300 |  |  | 2026 - 2039 |  | $ | 84,200
Argentina |  |  | 2021 - 2025 |  |  | 68,900 |  |  | 2020 - 2024 |  |  | 42,500
Mexico |  |  | 2021 - 2030 |  |  | 367 |  |  | 2021 - 2029 |  |  | 369
Peru |  |  |  |  |  | - |  |  | 2021 |  |  | 70

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