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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes Tables Abstract

Income tax recovery

(in thousands)				2019		2018

Deferred income tax:
Origination of temporary differences			$	4,940	$	4,520
Tax benefit-previously unrecognized tax assets				1,326		3,852
Prior year over (under) provision				(890)		(78)
				5,376		8,294
Income tax recovery			$	5,376	$	8,294

Reconciliation of the effective rate of income tax

(in thousands)				2019		2018

Loss before taxes			$	(23,517)	$	(38,371)
Combined Canadian tax rate				26.50%		26.50%
Income tax recovery at combined rate				6,232		10,168

Difference in tax rates				2,048		7,573
Non-deductible amounts				(2,675)		(5,996)
Non-taxable amounts				2,362		1,439
Previously unrecognized deferred tax assets ⁽¹⁾				1,326		3,852
Renunciation of tax attributes-flow through shares				(403)		(1,589)
Change in deferred tax assets not recognized				(2,476)		(7,488)
Change in tax rates, legislation				(81)		-
Prior year over (under) provision				(890)		(78)
Other				(67)		413
Income tax recovery			$	5,376	$	8,294

Deferred income tax assets (liabilities)

				At December 31		At December 31
(in thousands)				2019		2018

Deferred income tax assets:
Property, plant and equipment, net			$	387	$	381
Post-employment benefits				590		600
Reclamation obligations				9,561		8,798
Tax loss carry forwards				15,827		13,346
Other				8,537		8,164
Deferred income tax assets-gross				34,902		31,289
Set-off against deferred income tax liabilities				(34,902)		(31,289)
Deferred income tax assets-per balance sheet			$	-	$	-

Deferred income tax liabilities:
Inventory			$	(742)	$	(742)
Property, plant and equipment, net				(41,949)		(42,307)
Other				(1,135)		(1,203)
Deferred income tax liabilities-gross				(43,826)		(44,252)
Set-off of deferred income tax assets				34,902		31,289
Deferred income tax liabilities-per balance sheet			$	(8,924)	$	(12,963)

Deferred income tax liability continuity

(in thousands)				2019		2018

Balance-January 1			$	(12,963)	$	(17,422)
Recognized in income (loss)				5,376		8,294
Recognized in other liabilities (flow-through shares)				(1,337)		(3,835)
Balance-December 31			$	(8,924)	$	(12,963)

Deferred income tax assets not recognized

				At December 31		At December 31
(in thousands)				2019		2018

Deferred income tax assets not recognized
Property, plant and equipment			$	7,344	$	10,439
Tax losses – capital				66,783		66,527
Tax losses – operating				35,904		29,220
Tax credits				1,126		1,126
Other deductible temporary differences				1,571		2,220
Deferred income tax assets not recognized			$	112,728	$	109,532

Canadian tax losses and tax credits not recognized

		Expiry		At December 31		At December 31
(in thousands)		Date		2019		2018

Tax losses - gross		2025-2039	$	192,197	$	158,437

Tax benefit at tax rate of 26% - 27%				51,731		42,566
Set-off against deferred tax liabilities				(15,827)		(13,346)
Total tax loss assets not recognized			$	35,904	$	29,220

Tax credits		2025-2035		1,126		1,126
Total tax credit assets not recognized			$	1,126	$	1,126