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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME TAXES |
Summary of income tax recovery | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | 2022 |  | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax: |  | ​ |  |  | ​ |
Origination of temporary differences | ​ | $ | 149 | ​ | $ | 1,795
Tax benefit-previously unrecognized tax assets | ​ |  | 2,128 | ​ |  | 247
Prior year under provision | ​ |  | (8) | ​ |  | (47)
​ | ​ |  | 2,269 | ​ |  | 1,995
Income tax recovery | ​ | $ | 2,269 | ​ | $ | 1,995
​
Summary of reconciliation of the effective rate of income tax | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2022 |  | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Income before taxes | ​ | $ | 12,085 | ​ | $ | 16,982 | ​
Combined Canadian tax rate | ​ |  | 26.50 | % |  | 26.50 | %
Income tax expense at combined rate | ​ |  | (3,202) | ​ |  | (4,500) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Difference in tax rates | ​ |  | (3,394) | ​ |  | (1,704) | ​
Non-deductible amounts | ​ |  | (3,018) | ​ |  | (4,637) | ​
Non-taxable amounts | ​ |  | 17,334 | ​ |  | 13,518 | ​
Change in deferred tax assets not recognized (1) | ​ |  | (5,257) | ​ |  | (409) | ​
Change in tax rates, legislation | ​ |  | (151) | ​ |  | (29) | ​
Prior year under provision | ​ |  | (8) | ​ |  | (47) | ​
Other | ​ |  | (35) | ​ |  | (197) | ​
Income tax recovery | ​ | $ | 2,269 | ​ | $ | 1,995 | ​
| (1) | The Company has recognized certain previously unrecognized Canadian tax assets in 2022 and 2021 as a result of the renunciation of certain tax benefits to subscribers pursuant to its December 2021 $8,000,000 and December 2020 $930,000 flow-through share offerings.
Summary of deferred income tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax assets: |  | ​ |  |  | ​ |
Property, plant and equipment, net | ​ | $ | 387 | ​ | $ | 387
Post-employment benefits | ​ |  | 314 | ​ |  | 331
Reclamation obligations | ​ |  | 8,990 | ​ |  | 11,420
Non-capital tax loss carry forwards | ​ |  | 20,070 | ​ |  | 16,910
Capital loss carry forward | ​ |  | 9,483 | ​ |  | 6,862
Other | ​ |  | 8,077 | ​ |  | 7,942
Deferred income tax assets-gross | ​ |  | 47,321 | ​ |  | 43,852
Set-off against deferred income tax liabilities | ​ |  | (47,321) | ​ |  | (43,852)
Deferred income tax assets-per balance sheet | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax liabilities: | ​ |  |  | ​ |  |
Inventory | ​ | $ | (759) | ​ | $ | (755)
Property, plant and equipment, net | ​ |  | (40,757) | ​ |  | (42,322)
Investments-equity instruments and uranium | ​ |  | (9,483) | ​ |  | (6,862)
Other | ​ |  | (1,272) | ​ |  | (1,132)
Deferred income tax liabilities-gross | ​ |  | (52,271) | ​ |  | (51,071)
Set-off of deferred income tax assets | ​ |  | 47,321 | ​ |  | 43,852
Deferred income tax liabilities-per balance sheet | ​ | $ | (4,950) | ​ | $ | (7,219)
​
Summary of deferred income tax liability continuity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | 2022 |  | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Balance-January 1 | ​ | $ | (7,219) | ​ | $ | (9,192)
Recognized in income | ​ |  | 2,269 | ​ |  | 1,995
Recognized in other liabilities (flow-through shares) | ​ |  | — | ​ |  | (22)
Recognized in other comprehensive income | ​ |  | — | ​ |  | —
Balance-December 31 | ​ | $ | (4,950) | ​ | $ | (7,219)
​
Summary of deferred income tax assets not recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax assets not recognized |  | ​ |  |  | ​ |
Property, plant and equipment | ​ | $ | 5,372 | ​ | $ | 4,022
Tax losses-capital | ​ |  | 55,704 | ​ |  | 58,312
Tax losses-operating | ​ |  | 57,580 | ​ |  | 51,353
Tax credits | ​ |  | 1,126 | ​ |  | 1,126
Other deductible temporary differences | ​ |  | 2,653 | ​ |  | 5,023
Deferred income tax assets not recognized | ​ | $ | 122,435 | ​ | $ | 119,836
​
Summary of Canadian tax losses and tax credits not recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Expiry |  | At December 31 |  | At December 31
(in thousands) | ​ | Date | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax losses-gross |  | ​ | 2025-2042 | ​ | $ | 287,754 | ​ | $ | 251,967
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax benefit at tax rate of 26% - 27% | ​ | ​ | ​ | ​ |  | 77,650 | ​ |  | 68,263
Set-off against deferred tax liabilities |  | ​ | ​ | ​ |  | (20,070) | ​ |  | (16,910)
Total tax loss assets not recognized | ​ | ​ | ​ | ​ | $ | 57,580 | ​ | $ | 51,353
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax credits | ​ |  | 2025-2035 | ​ |  | 1,126 | ​ |  | 1,126
Total tax credit assets not recognized | ​ | ​ | ​ | ​ | $ | 1,126 | ​ | $ | 1,126

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