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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Taxes |
Income tax recovery |
(in thousands) |  | 2020 |  | 2019
Deferred income tax: |  |  |  |  |  |  |  |
Origination of temporary differences |  | $ | 710 |  |  | $ | 4,940 |
Tax benefit-previously unrecognized tax assets |  |  | 1,255 |  |  |  | 1,326 |
Prior year over (under) provision |  |  | (1,105 | ) |  |  | (890 | )
|  |  | 860 |  |  |  | 5,376 |
Income tax recovery |  | $ | 860 |  |  | $ | 5,376 |
Reconciliation of the effective rate of income tax |
(in thousands) |  | 2020 |  | 2019
Loss before taxes |  | $ | (17,143 | ) |  | $ | (23,517 | )
Combined Canadian tax rate |  |  | 26.50 | % |  |  | 26.50 | %
Income tax recovery at combined rate |  |  | 4,543 |  |  |  | 6,232 |
Difference in tax rates |  |  | 1,746 |  |  |  | 2,048 |
Non-deductible amounts |  |  | (2,579 | ) |  |  | (2,675 | )
Non-taxable amounts |  |  | 2,535 |  |  |  | 2,362 |
Previously unrecognized deferred tax assets (1) |  |  | 1,255 |  |  |  | 1,326 |
Renunciation of tax attributes-flow through shares |  |  | (417 | ) |  |  | (403 | )
Change in deferred tax assets not recognized |  |  | (5,960 | ) |  |  | (2,476 | )
Change in tax rates, legislation |  |  | (55 | ) |  |  | (81 | )
Prior year over (under) provision |  |  | (1,105 | ) |  |  | (890 | )
Other |  |  | 897 |  |  |  | (67 | )
Income tax recovery |  | $ | 860 |  |  | $ | 5,376 |
(1) | The Company has recognized certain previously unrecognized Canadian tax assets in 2020 and 2019 as a result of the renunciation of certain tax benefits to subscribers pursuant to its December 2019 $4,715,460 and November 2018 $5,000,000 flow-through share offerings.
Deferred income tax assets (liabilities) |
|  | At December 31 |  | At December 31
(in thousands) |  | 2020 |  | 2019
Deferred income tax assets: |  |  |  |  |  |  |  |
Property, plant and equipment, net |  | $ | 387 |  |  | $ | 387 |
Post-employment benefits |  |  | 355 |  |  |  | 590 |
Reclamation obligations |  |  | 11,709 |  |  |  | 9,561 |
Tax loss carry forwards |  |  | 16,943 |  |  |  | 15,827 |
Other |  |  | 7,747 |  |  |  | 8,537 |
Deferred income tax assets-gross |  |  | 37,141 |  |  |  | 34,902 |
Set-off against deferred income tax liabilities |  |  | (37,141 | ) |  |  | (34,902 | )
Deferred income tax assets-per balance sheet |  | $ | — |  |  | $ | — |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Inventory |  | $ | (757 | ) |  | $ | (742 | )
Property, plant and equipment, net |  |  | (44,436 | ) |  |  | (41,949 | )
Other |  |  | (1,140 | ) |  |  | (1,135 | )
Deferred income tax liabilities-gross |  |  | (46,333 | ) |  |  | (43,826 | )
Set-off of deferred income tax assets |  |  | 37,141 |  |  |  | 34,902 |
Deferred income tax liabilities-per balance sheet |  | $ | (9,192 | ) |  | $ | (8,924 | )
Deferred income tax liability continuity |
(in thousands) |  | 2020 |  | 2019
Balance-January 1 |  | $ | (8,924 | ) |  | $ | (12,963 | )
Recognized in income (loss) |  |  | 860 |  |  |  | 5,376 |
Recognized in other liabilities (flow-through shares) |  |  | (902 | ) |  |  | (1,337 | )
Recognized in other comprehensive income |  |  | (226 | ) |  |  | — |
Balance-December 31 |  | $ | (9,192 | ) |  | $ | (8,924 | )
Deferred income tax assets not recognized |
|  | At December 31 |  | At December 31
(in thousands) |  | 2020 |  | 2019
Deferred income tax assets not recognized |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | 4,744 |  |  | $ | 7,344 |
Tax losses – capital |  |  | 66,873 |  |  |  | 66,783 |
Tax losses – operating |  |  | 42,635 |  |  |  | 35,904 |
Tax credits |  |  | 1,126 |  |  |  | 1,126 |
Other deductible temporary differences |  |  | 1,441 |  |  |  | 1,571 |
Deferred income tax assets not recognized |  | $ | 116,819 |  |  | $ | 112,728 |
Canadian tax losses and tax credits not recognized |
|  | Expiry |  | At December 31 |  | At December 31
(in thousands) |  | Date |  | 2020 |  | 2019
Tax losses - gross |  |  | 2025-2040 |  |  | $ | 220,039 |  |  | $ | 192,197 |
Tax benefit at tax rate of 26% - 27% |  |  |  |  |  |  | 59,578 |  |  |  | 51,731 |
Set-off against deferred tax liabilities |  |  |  |  |  |  | (16,943 | ) |  |  | (15,827 | )
Total tax loss assets not recognized |  |  |  |  |  |  | 42,635 |  |  |  | 35,904 |
Tax credits |  |  | 2025-2035 |  |  |  | 1,126 |  |  |  | 1,126 |
Total tax credit assets not recognized |  |  |  |  |  | $ | 1,126 |  |  | $ | 1,126 |

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