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INCOME TAXES
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
A reconciliation of income tax expense and the product of accounting income before income tax, multiplied by the combined Canadian federal and provincial income tax rate (the rate applicable to the Canadian parent company) is as follows:
 Years ended December 31,
 202020192018
Loss before income taxes$(27,872)$(38,094)$(25,362)
Combined federal and provincial rate26.50 %26.50 %26.50 %
Expected income tax recovery(7,385)(10,095)(6,721)
Share-based compensation565 985 623 
Other non-deductible/non-taxable items1,985 (376)597 
Unrecognized deferred tax assets4,835 9,486 5,501 
Income tax expense$— $— $— 
The components of the net deferred tax assets and liabilities as of December 31, 2020 and 2019 are as follows:
 Years ended December 31,
 20202019
Deferred tax assets  
Inventories$7,051 $5,405 
Short-term investments209 209 
Operating loss carry forwards95,060 88,156 
Capital loss carry forwards843 852 
Deferred revenue and other2,057 2,719 
Mineral properties and deferred costs26,554 27,541 
Asset retirement obligations3,455 5,028 
Property, plant and equipment1,806 1,644 
Total deferred tax assets137,035 131,554 
Less: valuation allowance(137,035)(131,554)
Net deferred tax assets$— $— 
At December 31, 2020, and 2019, the Company recorded a valuation allowance against the net deferred tax assets for the above related items in the financial statements as management did not consider it more likely than not that the Company will be able to realize the deferred tax assets in the future.
The following table summarizes the changes to the valuation allowance:
   
For the Years EndedBalance  Balance
December 31,
Beginning of PeriodAdditions (a)Deductions (b)End of Period
2020$131,554 $7,140 $(1,659)$137,035 
2019$135,764 $11,459 $(15,669)$131,554 
a)The additions to the valuation allowance result from additional losses incurred and increases to other tax assets such as mineral property and property, plant and equipment. Management does not feel these additions meet the more-likely-than-not criterion for recognition.
  
b)The reductions to the valuation allowance result primarily from the decreases to other tax assets such as inventories, short-term investments and deferred revenue.
The following table summarizes the Company's capital losses and net operating losses as of December 31, 2020 that can be applied against future taxable profit.
CountryTypeAmountExpiry Date
CanadaNon-capital losses$42,853 2027 - 2038
CanadaAllowable capital losses3,180 None
CanadaInvestment tax credits1,172 2023-2027
United StatesPre-2018 net operating losses292,139 2026-2037
United StatesPost-2017 net operating losses23,726 None
Utilization of the United States loss carry forwards will be limited in any year as a result of previous changes in ownership. For the Energy Fuels Holding Corporation and Subsidiaries consolidated group, management estimates that approximately $75 million in net operating losses will expire unutilized as a result of these limitations.
In addition, as a result of the Tax Cuts and Jobs Act, United States net operating loss carryforwards generated after December 31, 2017, are limited to usage at 80% of taxable income and will be permitted to be carried forward indefinitely.
Utilization of the Canadian loss carry forwards will be subject to the Acquisition of Control Rules in any year as a result of previous changes in ownership.