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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense (benefit) 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,
| 2023 |  | 2022 |  | 2021
Income (loss) before income taxes | $ | 100,032 |  |  | $ | (59,944) |  |  | $ | 1,448 |
Combined federal and provincial rate | 26.5 | % |  | 26.5 | % |  | 26.5 | %
Expected income tax (benefit) | 26,508 |  |  | (15,885) |  |  | 384 |
Share-based compensation | (893) |  |  | 572 |  |  | (89) |
Other non-deductible/non-taxable items | 2,015 |  |  | 3,977 |  |  | 159 |
Unrecognized deferred tax assets | (27,354) |  |  | 11,336 |  |  | (454) |
Income tax expense | $ | 276 |  |  | $ | — |  |  | $ | — |
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred tax assets as of December 31, 2023 and 2022 are as follows:
| Years Ended December 31,
| 2023 |  | 2022
Inventories | $ | 547 |  |  | $ | 5,984 |
Short-term investments | 209 |  |  | 209 |
Operating loss carry forwards | 93,241 |  |  | 108,827 |
Capital loss carry forwards | 849 |  |  | 881 |
Deferred revenue and other | 2,431 |  |  | 5,433 |
Mineral properties and deferred costs, United States | 16,872 |  |  | 18,727 |
Mineral properties and deferred costs, Canada | 1,726 |  |  | 1,815 |
Asset retirement obligations | 2,894 |  |  | 3,976 |
Property, plant and equipment | 986 |  |  | 1,079 |
Total deferred tax assets | $ | 119,755 |  |  | $ | 146,931 |
Less: valuation allowance | (119,755) |  |  | (146,931) |
Net deferred tax assets | $ | — |  |  | $ | — |
Summary of Valuation Allowance | The following table summarizes the changes to the valuation allowance:
For the Years Ended |  | Balance |  |  |  |  |  | Balance
December 31, |  | Beginning of Period |  | Additions (1) |  | Deductions (2) |  | End of Period
2023 |  | $ | 146,931 |  |  | $ | — |  |  | $ | (27,176) |  |  | $ | 119,755 |
2022 |  | $ | 135,503 |  |  | $ | 11,927 |  |  | $ | (499) |  |  | $ | 146,931 |
(1)There were no additions to the valuation allowance for the year ended December 31, 2023. For the year ended December 31, 2022, additions to the valuation allowance were due to additional losses incurred and increases to other tax assets such as mineral property, reclamation obligations and deferred revenue. (2)For the year ended December 31, 2023, the reductions to the valuation allowance were due to the utilization of loss carryforwards and the decrease to tax assets such as inventory, mineral property and property, plant and equipment. For the year ended December 31, 2022, the reductions to the valuation allowance are primarily due to the decreases to other tax assets such as inventories.
Summary of Operating Loss Carryforwards | The following table summarizes the Company's capital losses and net operating losses as of December 31, 2023 that can be applied against future taxable profit.
Country |  | Type |  | Amount |  | Expiry Date
Canada |  | Non-capital losses |  | $ | 51,555 |  |  | 2027 - 2039
Canada |  | Allowable capital losses |  | $ | 3,204 |  |  | None
Canada |  | Investment tax credits |  | $ | 1,165 |  |  | 2023-2027
United States |  | Pre-2018 net operating losses |  | $ | 194,499 |  |  | 2026-2036
United States |  | Post-2017 net operating losses |  | $ | 105,802 |  |  | None
Schedule of Income before Income Tax, Domestic and Foreign | For financial reporting purposes, income before taxes includes the following components:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Canada | $ | (5,229) |  |  | $ | (23,964) |  |  | $ | (7,549) |
Foreign | 105,261 |  |  | (35,980) |  |  | 8,997 |
Total | $ | 100,032 |  |  | $ | (59,944) |  |  | $ | 1,448 |

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