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INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2024
INCOME TAX |
Schedule of Income Tax Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Years ended December 31,
​ | ​ | ​ | 2024 $ |  | ​ | 2023 $
Net income (loss) before tax | ​ | ​ | 212,209 | ​ | ​ | (11,051)
Statutory tax rate | ​ | ​ | 27.0% | ​ | ​ | 27.0%
Anticipated income tax expense (recovery) at statutory rates | ​ | ​ | 57,296 | ​ | ​ | (2,984)
(Deductible) non-deductible expenditures | ​ | ​ | (4,863) | ​ | ​ | 2,443
Differences between Canadian and foreign tax rates | ​ | ​ | 7,762 | ​ | ​ | (729)
Changes in estimate | ​ | ​ | 9,721 | ​ | ​ | 7,419
Inflation adjustment | ​ | ​ | (68,886) | ​ | ​ | (63,095)
Impact of foreign exchange | ​ | ​ | 40,652 | ​ | ​ | 70,014
Change in deferred tax assets not recognized | ​ | ​ | 12,443 | ​ | ​ | 11,489
Mining taxes | ​ | ​ | 5,316 | ​ | ​ | 2,714
Withholding taxes | ​ | ​ | 9,293 | ​ | ​ | 5,629
Other items | ​ | ​ | 1,569 | ​ | ​ | (321)
Total income tax expense | ​ | ​ | 70,303 | ​ | ​ | 32,579
​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax represented by: | ​ | ​ | ​ | ​ | ​ | ​
Current income tax expense | ​ | ​ | 96,468 | ​ | ​ | 42,636
Deferred tax recovery | ​ | ​ | (26,165) | ​ | ​ | (10,057)
​ | ​ | ​ | 70,303 | ​ | ​ | 32,579
Schedule of Current and Deferred Taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Years ended December 31,
​ | ​ | ​ | 2024 $ |  | ​ | 2023 $
Current tax expense | ​ | ​ | ​ | ​ | ​ | ​
Current taxes on profit for the year | ​ | ​ | 91,751 | ​ | ​ | 42,096
Changes in estimates related to prior years | ​ | ​ | 4,717 | ​ | ​ | 540
​ | ​ | ​ | 96,468 | ​ | ​ | 42,636
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax expense | ​ | ​ | ​ | ​ | ​ | ​
Origination and reversal of temporary differences and foreign exchange rate | ​ | ​ | (31,163) | ​ | ​ | (16,899)
Changes in estimates related to prior years | ​ | ​ | 5,003 | ​ | ​ | 6,879
Effect of differences in tax rates | ​ | ​ | (5) | ​ | ​ | (37)
Effect of changes in tax rates | ​ | ​ | - | ​ | ​ | -
​ | ​ | ​ | (26,165) | ​ | ​ | (10,057)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total tax expense | ​ | ​ | 70,303 | ​ | ​ | 32,579
Schedule of Deferred Tax Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, |  | ​ | 2024 $ |  | ​ | 2023 $
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Reclamation and closure cost obligation | ​ | ​ | 12,377 | ​ | ​ | 15,011
Carried forward tax loss | ​ | ​ | 11,479 | ​ | ​ | 16,043
Accounts payable and accrued liabilities | ​ | ​ | 25,282 | ​ | ​ | 16,747
Deductibility of resource taxes | ​ | ​ | 182 | ​ | ​ | 154
Lease obligations | ​ | ​ | 7,664 | ​ | ​ | 7,972
Total deferred tax assets | ​ | ​ | 56,984 | ​ | ​ | 55,927
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Mineral properties | ​ | ​ | (159,319) | ​ | ​ | (193,646)
Mining and foreign withholding taxes | ​ | ​ | (243) | ​ | ​ | (1,124)
Equipment and buildings | ​ | ​ | (15,938) | ​ | ​ | (5,941)
Convertible debenture | ​ | ​ | (11,371) | ​ | ​ | (406)
Inflation | ​ | ​ | (196) | ​ | ​ | (598)
Inventory and other | ​ | ​ | (14,183) | ​ | ​ | (14,067)
Total deferred tax liabilities | ​ | ​ | (201,250) | ​ | ​ | (215,782)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax liabilities | ​ | ​ | (144,266) | ​ | ​ | (159,855)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Classification: | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets | ​ | ​ | - | ​ | ​ | -
Deferred tax liabilities | ​ | ​ | (144,266) | ​ | ​ | (159,855)
Net deferred tax liabilities | ​ | ​ | (144,266) | ​ | ​ | (159,855)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | 2024 $ |  | ​ | 2023 $
At January 1 | ​ | ​ | 159,855 | ​ | ​ | 167,619
Deferred income tax recovery through income statement | ​ | ​ | (26,165) | ​ | ​ | (10,057)
Deferred income tax expense through equity | ​ | ​ | 10,576 | ​ | ​ | 2,293
At December 31 | ​ | ​ | 144,266 | ​ | ​ | 159,855
Schedule of Unrecognized Deductible Temporary Difference and Unused Tax Losses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, |  | ​ | 2024 $ |  | ​ | 2023 $
Unrecognized deductible temporary differences and unused tax losses: | ​ | ​ | ​ | ​ | ​ | ​
Non-capital losses | ​ | ​ | 174,195 | ​ | ​ | 138,736
Provisions | ​ | ​ | 13,676 | ​ | ​ | 19,335
Mineral properties, plant and equipment | ​ | ​ | 238,795 | ​ | ​ | 163,508
Lease obligation | ​ | ​ | - | ​ | ​ | 1,729
Derivative liabilities | ​ | ​ | 25,808 | ​ | ​ | 23,395
Capital losses | ​ | ​ | 5,236 | ​ | ​ | -
Investments in equity securities and associates | ​ | ​ | 1,049 | ​ | ​ | 1,069
Unrecognized deductible temporary differences | ​ | ​ | 458,759 | ​ | ​ | 347,772
​
​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, |  | ​ | 2024 $ |  | ​ | 2023 $
Mexico | ​ | ​ | 14,942 | ​ | ​ | 27,491
Peru | ​ | ​ | 88,361 | ​ | ​ | 96,467
Schedule of Tax Losses Expiry Dates | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, | ​ | ​ | Year of expiry | ​ | ​ | 2024 $ | ​ | ​ | Year of expiry |  | ​ | 2023 $
Canada | ​ | ​ | 2025 - 2044 | ​ | ​ | 200,452 | ​ | ​ | 2024 - 2043 | ​ | ​ | 210,847
Mexico | ​ | ​ | 2025 - 2034 | ​ | ​ | 22,997 | ​ | ​ | 2024 - 2033 | ​ | ​ | 6,623

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