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Income Taxes (Tables)

12 Months Ended

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