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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Summary of income tax recovery | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax: |  | ​ |  |  | ​ |
Origination of temporary differences | ​ | $ | 2,578 | ​ | $ | 149
Tax benefit-previously unrecognized tax assets | ​ |  | — | ​ |  | 2,128
Prior year under provision | ​ |  | (235) | ​ |  | (8)
​ | ​ |  | 2,343 | ​ |  | 2,269
Income tax recovery | ​ | $ | 2,343 | ​ | $ | 2,269
Summary of reconciliation of the effective rate of income tax | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |
Income before taxes – continuing operations | ​ | $ | 87,021 | ​ | $ | 10,303 | ​
Combined Canadian tax rate | ​ |  | 26.50 | % |  | 26.50 | %
Income tax expense at combined rate | ​ |  | (23,061) | ​ |  | (2,730) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Difference in tax rates | ​ |  | (6,536) | ​ |  | (3,394) | ​
Non-deductible amounts | ​ |  | (5,042) | ​ |  | (3,018) | ​
Non-taxable amounts | ​ |  | 33,314 | ​ |  | 17,334 | ​
Change in deferred tax assets not recognized (1) | ​ |  | 3,925 | ​ |  | (5,729) | ​
Change in tax rates, legislation | ​ |  | (80) | ​ |  | (151) | ​
Prior year under provision | ​ |  | (235) | ​ |  | (8) | ​
Other | ​ |  | 58 | ​ |  | (35) | ​
Income tax recovery | ​ | $ | 2,343 | ​ | $ | 2,269 | ​
| (1) | The Company has recognized certain previously unrecognized Canadian tax assets in 2022 as a result of the renunciation of certain tax benefits to subscribers pursuant to the Company's flow-through share issuances of $8,000,000 in December 2022.
Summary of deferred income tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2023 | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax assets: |  | ​ |  |  | ​ |
Property, plant and equipment, net | ​ | $ | 387 | ​ | $ | 387
Post-employment benefits | ​ |  | 295 | ​ |  | 314
Reclamation obligations | ​ |  | 11,699 | ​ |  | 8,990
Non-capital tax loss carry forwards | ​ |  | 18,489 | ​ |  | 20,070
Capital loss carry forward | ​ |  | 25,088 | ​ |  | 9,483
Other | ​ |  | 9,348 | ​ |  | 8,077
Deferred income tax assets-gross | ​ |  | 65,306 | ​ |  | 47,321
Set-off against deferred income tax liabilities | ​ |  | (65,306) | ​ |  | (47,321)
Deferred income tax assets-per balance sheet | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax liabilities: | ​ |  |  | ​ |  |
Inventory | ​ | $ | (852) | ​ | $ | (759)
Property, plant and equipment, net | ​ |  | (40,707) | ​ |  | (40,757)
Investments-equity instruments and uranium | ​ |  | (25,088) | ​ |  | (9,483)
Other | ​ |  | (1,266) | ​ |  | (1,272)
Deferred income tax liabilities-gross | ​ |  | (67,913) | ​ |  | (52,271)
Set-off of deferred income tax assets | ​ |  | 65,306 | ​ |  | 47,321
Deferred income tax liabilities-per balance sheet | ​ | $ | (2,607) | ​ | $ | (4,950)
Summary of deferred income tax liability continuity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​
Balance-January 1 | ​ | $ | (4,950) | ​ | $ | (7,219)
Recognized in income | ​ |  | 2,343 | ​ |  | 2,269
Recognized in other liabilities (flow-through shares) | ​ |  | — | ​ |  | —
Recognized in other comprehensive income | ​ |  | — | ​ |  | —
Balance-December 31 | ​ | $ | (2,607) | ​ | $ | (4,950)
Summary of deferred income tax assets not recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2023 | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax assets not recognized |  | ​ |  |  | ​ |
Property, plant and equipment | ​ | $ | 6,985 | ​ | $ | 5,372
Tax losses-capital | ​ |  | 38,445 | ​ |  | 55,704
Tax losses-operating | ​ |  | 69,919 | ​ |  | 57,580
Tax credits | ​ |  | 1,126 | ​ |  | 1,126
Other deductible temporary differences | ​ |  | 2,881 | ​ |  | 2,653
Deferred income tax assets not recognized | ​ | $ | 119,356 | ​ | $ | 122,435
Summary of Canadian tax losses and tax credits not recognized | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Expiry |  | At December 31 |  | At December 31
(in thousands) | ​ | Date | ​ | 2023 | ​ | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax losses-gross |  | ​ | 2025-2043 | ​ | $ | 324,965 | ​ | $ | 287,754
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax benefit at tax rate of 26% - 27% | ​ | ​ | ​ | ​ |  | 88,408 | ​ |  | 77,650
Set-off against deferred tax liabilities |  | ​ | ​ | ​ |  | (18,489) | ​ |  | (20,070)
Total tax loss assets not recognized | ​ | ​ | ​ | ​ | $ | 69,919 | ​ | $ | 57,580
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax credits | ​ |  | 2025-2035 | ​ |  | 1,126 | ​ |  | 1,126
Total tax credit assets not recognized | ​ | ​ | ​ | ​ | $ | 1,126 | ​ | $ | 1,126
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