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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2015
INCOME TAXES |
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities |
|  | 2015 |  | 2014 |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carryforward |  | $ | 105,555 |  | $ | 108,070 |
Mineral Properties |  |  | 11,842 |  |  | 14,797 |
Other temporary differences |  |  | 5,371 |  |  | 7,141 |
Total gross deferred tax assets |  |  | 122,768 |  |  | 130,008 |
Less: valuation allowance |  |  | (122,768) |  |  | (129,794) |
Net deferred tax assets |  | $ | — |  | $ | 214 |
Deferred tax liabilities: |  |  |  |  |  |  |
Investments |  | $ | — |  | $ | (214) |
Acquired mineral property interests |  |  | (26,899) |  |  | (51,899) |
Total deferred tax liabilities |  |  | (26,899) |  |  | (52,113) |
Total net deferred tax liabilities |  | $ | (26,899) |  | $ | (51,899) |
Schedule of reconciliation of the tax provision at statutory U.S. Federal and State income tax rates to the actual tax provision recorded in the financial statement |
Expected tax recovery at |  | 2015 |  | 2014 |  | 2013 |
Loss before income taxes |  | $ | (45,010) |  |  | (419,113) |  |  | (201,107) |
Statutory tax rate |  |  | 34% |  |  | 34% |  |  | 34% |
US Federal and State tax recovery at statutory rate |  | $ | (15,303) |  | $ | (142,498) |  | $ | (68,376) |
Reconciling items: |  |  |  |  |  |  |  |  |  |
Equity pickup in MSC |  |  | (821) |  |  | 1,850 |  |  | (2,924) |
Impairment of MSC |  |  | 4,004 |  |  | 7,407 |  |  | 33,557 |
Revisions to prior year estimates |  |  | 906 |  |  | 8,330 |  |  | (19,016) |
Adjustment for foreign tax rates |  |  | (1,230) |  |  | (1,803) |  |  | 6,573 |
Other permanent differences |  |  | (15,694) |  |  | (14,760) |  |  | (11,296) |
Unrealized foreign exchange rate (loss)/gain |  |  | 9,389 |  |  | 19,444 |  |  | (28,319) |
NOL expired |  |  | 1,215 |  |  | 10,268 |  |  | 1,711 |
Valuation allowance |  |  | (7,026) |  |  | 4,592 |  |  | 34,725 |
Tax Recovery |  | $ | (24,560) |  | $ | (107,170) |  | $ | (53,365) |
Summary of changes in valuation allowance |
For the year ended December 31, |  |  | Balance at Beginning of Period |  |  | Additions (a) |  |  | Deductions (b) |  |  | Balance at End of Period
2015 |  | $ | 129,794 |  | $ | 6,873 |  | $ | (13,899) |  | $ | 122,768
2014 |  |  | 125,202 |  |  | 11,514 |  |  | (6,922) |  |  | 129,794
2013 |  |  | 90,477 |  |  | 35,547 |  |  | (822) |  |  | 125,202
| (a) |  | The additions to valuation allowance mainly results from the Company and its subsidiaries incurring losses and exploration expenses for tax purposes which do not meet the more-likely-than-not criterion for recognition of deferred tax assets.
| (b) |  | The reductions to valuation allowance mainly results from expir ation of the C ompany's tax attributes and foreign exchange reductions of tax attributes in Mexico and Argentina.
Summary of company’s non operating losses that can be applied against future taxable profit |
Country | Type of Loss |  |  | Amount | Expiry Period
United States (a) | Non operating losses |  | $ | 158,974 | 2016-2035
Mexico | Non operating losses |  |  | 57,822 | 2016-2025
Canada | Non operating losses |  |  | 20,349 | 2016-2035
Argentina | Non operating losses |  |  | 85,878 | 2016-2020
| (a) |  | The losses in the United States and Argentina are part of a multiple consolidating groups, and therefore, may be restricted in use to specific projects.

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