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LEASE LIABILITIES | 12 Months Ended
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Dec. 31, 2022
LEASE LIABILITIES |
LEASE LIABILITIES | NOTE 10 LEASE LIABILITIES The Company’s lease obligations include equipment, vehicles and office space. Leased assets are included in plant and equipment (Note 8). The terms and conditions contained in the Company’s leases do not contain variable components. Lease liabilities as at December 31, 2022 and 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total discounted lease liabilities
​ | ​ | December 31, 2022 | ​ | December 31, 2021
Finance leases | ​ | $ | 1,320 | ​ | $ | 3,833
Operating lease | ​ | ​ | 1,086 | ​ | ​ | 583
Lease liabilities | ​ | $ | 2,406 | ​ | $ | 4,416
Current portion | ​ | ​ | (1,215) | ​ | ​ | (2,901)
Long-term portion | ​ | $ | 1,191 | ​ | $ | 1,515
​ Lease liabilities as at December 31, 2022 are recorded using a weighted average discount rate of 3.63% and 8.00% for finance and operating leases and have average remaining lease terms of two years and three years, respectively. By comparison, as at December 31, 2021 lease liabilities were recorded at a rate of 6.67% and 8.73% for finance and operating leases and had average remaining lease term of one year and three years. During the year ended December 31, 2022, the Company recorded $3.0 million (December 31, 2021 – $2.0 million) in interest and other finance costs related to leases. A breakdown of the lease related costs for the year ended December 31, 2022 and 2021 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2021
Finance leases: | ​ | ​ | ​ | ​ | ​ | ​
Amortization of ROU assets | ​ | $ | 2,865 | ​ | $ | 1,659
Interest expense | ​ | ​ | 140 | ​ | ​ | 329
Total | ​ | $ | 3,005 | ​ | $ | 1,988
​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease: | ​ | ​ | ​ | ​ | ​ | ​
Rent expense | ​ | $ | 152 | ​ | $ | 135
​ Future minimum undiscounted lease payments as at December 31, 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Payments due by period
​ |  | 2023 |  | 2024 |  | 2025 |  | 2026 | Total
​ |  | (in thousands)
Operating lease obligation | ​ | $ | 512 | ​ | $ | 332 | ​ | $ | 204 | ​ | $ | 118 | $ | 1,166
Finance lease obligations | ​ |  | 1,060 | ​ |  | 357 | ​ |  | 68 | ​ |  | 29 |  | 1,514
Total future minimum lease payments | ​ | $ | 1,572 | ​ | $ | 689 | ​ | $ | 272 | ​ | $ | 147 | $ | 2,680
Less: Imputed interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 21
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,701
​

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- Definition The entire disclosure of information about leases. + References No definition available. + Details
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- References No definition available. + Details
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