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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes [abstract]

Schedule of Income Tax Reconciliation

​

​	​	​	​	​	​	​
​	​	Years ended December 31,
​	​	2021		​	2020
Net income before tax	​	$	107,180	​	$	58,955
Statutory tax rate	​	​	27.0%	​	​	27.0%
Anticipated income tax at statutory rates	​	​	28,939	​	​	15,918
Non-deductible expenditures (deductible expenditures)	​	​	(5,535)	​	​	1,326
Differences between Canadian and foreign tax rates	​	​	4,392	​	​	1,284
Changes in estimate	​	​	(93)	​	​	(192)
Effect of change in tax rates	​	​	(1,919)	​	​	436
Inflation adjustment	​	​	(24,873)	​	​	(10,634)
Impact of foreign exchange	​	​	14,865	​	​	15,081
Changes in deferred tax assets not recognized	​	​	18,692	​	​	5,909
Mining taxes	​	​	7,636	​	​	4,656
Withholding taxes	​	​	8,148	​	​	3,670
Other items	​	​	(2,471)	​	​	(52)
Total income tax expense	​	$	47,781	​	$	37,402
​	​	​	​	​	​	​
Total income tax represented by:	​	​	​	​	​	​
Current income tax expense	​	$	51,651	​	$	38,818
Deferred tax recovery	​	​	(3,870)	​	​	(1,416)
​	​	$	47,781	​	$	37,402

Schedule of Current and Deferred Taxes

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​	​	​	​	​	​	​
​	​	Years ended December 31,
​	​	2021		​	2020
Current tax expense	​	​	​	​	​	​
Current taxes on profit for the year	​	$	51,106	​	$	38,603
Changes in estimates related to prior years	​	​	545	​	​	215
​	​	$	51,651	​	$	38,818
​	​	​	​	​	​	​
Deferred tax expense	​	​	​	​	​	​
Origination and reversal of temporary differences and foreign exchange rate	​	$	(985)	​	$	(1,500)
Changes in estimates related to prior years	​	​	(638)	​	​	(396)
Effect of differences in tax rates	​	​	(328)	​	​	44
Effect of changes in tax rates	​	​	(1,919)	​	​	436
​	​	$	(3,870)	​	$	(1,416)
​	​	​	​	​	​	​
Total tax expense	​	$	47,781	​	$	37,402

Schedule of Deferred Tax Assets and Liabilities

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​	​	​	​	​	​	​
​	​	December 31,		​	December 31,
​	​	2021		​	2020
Deferred tax assets:	​	​	​	​	​	​
Reclamation and closure cost obligation	​	$	15,872	​	$	13,080
Carried forward tax loss	​	​	4,192	​	​	17,729
Equipment and buildings	​	​	23,989	​	​	-
Accounts payable and accrued liabilities	​	​	19,370	​	​	16,437
Deductibility of resource taxes	​	​	3,085	​	​	3,414
Lease obligations	​	​	8,270	​	​	5,769
Other	​	​	1,153	​	​	127
Total deferred tax assets	​	$	75,931	​	$	56,556
​	​	​	​	​	​	​
Deferred tax liabilities:	​	​	​	​	​	​
Mineral properties	​	$	(244,296)	​	$	(55,134)
Mining and foreign withholding taxes	​	​	(4,523)	​	​	(4,862)
Equipment and buildings	​	​	-	​	​	(1,928)
Convertible debenture	​	​	(1,198)	​	​	(1,544)
Inflation	​	​	(10,163)	​	​	(11,210)
Inventory and other	​	​	(7,419)	​	​	(1,377)
Total deferred tax liabilities	​	$	(267,599)	​	$	(76,055)
​	​	​	​	​	​	​
Net deferred tax liabilities	​	$	(191,668)	​	$	(19,499)
​	​	​	​	​	​	​
​	​	2021		​	2020
Classification:	​	​	​	​	​	​
Deferred tax assets	​	$	-	​	$	-
Deferred tax liabilities	​	​	(191,668)	​	​	(19,499)
Net deferred tax liabilities	​	$	(191,668)	​	$	(19,499)

​

​	​	​	​	​	​	​
​	​	2021		​	2020
At January 1	​	$	19,499	​	$	20,915
Deferred income tax (recovery) expense through income statement	​	​	(3,870)	​	​	(1,416)
Deferred income tax expense through equity	​	​	176,039	​	​	-
At December 31	​	$	191,668	​	$	19,499

Schedule of Unrecognized Deductible Temporary Difference and Unused Tax Losses

​

​	​	​	​	​	​	​
​	​	December 31,		​	December 31,
​	​	2021		​	2020
Unrecognized deductible temporary differences and unused tax losses:	​	​	​	​	​	​
Non capital losses	​	$	136,072	​	$	90,192
Provisions	​	​	11,657	​	​	14,488
Share issue costs	​	​	1,711	​	​	3,894
Mineral properties, plant and equipment	​	​	12,705	​	​	-
Lease obligation	​	​	863	​	​	555
Derivative liabilities	​	​	-	​	​	1,111
Capital losses	​	​	4,204	​	​	255
Investments in equity securities and associates	​	​	901	​	​	1,534
Unrecognized deductible temporary differences	​	$	168,114	​	$	112,029

​

​	​	​	​	​	​	​
​	​	December 31,		​	December 31,
​	​	2021		​	2020
Mexico	​	$	204,283	​	$	248,880
Peru	​	​	59,976	​	​	62,414
West Africa	​	​	114,559	​	​	-

Schedule of Tax Losses Expiry Dates

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December 31,

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December 31,

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Year of expiry

​

2021

​

​

Year of expiry

2020

Canada

​

​

2026 - 2041

​

$

150,015

​

​

2026 - 2039

​

$

90,300

Argentina

​

​

​

​

​

-

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​

2020 - 2024

​

​

68,900

Mexico

​

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2021 - 2030

​

​

378

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2021 - 2029

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​

367

Peru

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​

​

​

​

-

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-

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