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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense | Net loss before income taxes was generated as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic - Canada | $ | (21,525) |  |  | $ | (11,666) |  |  | $ | (12,442) |
Foreign – outside of Canada | (52,397) |  |  | (14,412) |  |  | (10,878) |
| $ | (73,922) |  |  | $ | (26,078) |  |  | $ | (23,320) |
Income tax benefit is comprised of the following:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current tax expense |  |  |  |  |
Domestic – Canada | $ | - |  |  | $ | - |  |  | $ | - |
Foreign – outside of Canada | 38 |  |  | 2 |  |  | 2 |
| $ | 38 |  |  | $ | 2 |  |  | $ | 2 |
Deferred tax benefit |  |  |  |  |
Domestic – Canada | - |  |  | - |  |  | - |
Foreign – outside of Canada | (5,967) |  |  | (469) |  |  | (167) |
| $ | (5,967) |  |  | $ | (469) |  |  | $ | (167) |
Income tax benefit | $ | (5,929) |  |  | $ | (467) |  |  | $ | (165) |
Schedule of Effective Income Tax Rate Reconciliation | The actual income tax provision differs from the expected amount calculated by applying the Canadian combined federal and provincial corporate tax rates to income before tax. These differences result from the following:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Loss before tax | $ | (73,922) |  |  | $ | (26,078) |  |  | $ | (23,320) |
Federal income tax rate | 27 | % |  | 27 | % |  | 27 | %
Income tax recovery based on statutory rate | (19,959) |  |  | (7,041) |  |  | (6,296) |
Increase (decrease) resulting from: |  |  |  |  |
Permanent differences | 1,257 |  |  | 1,716 |  |  | 972 |
Non-controlling interest | 1,452 |  |  | — |  |  | — |
Change in valuation allowance | 8,499 |  |  | 5,595 |  |  | 4,301 |
Other | (631) |  |  | 9 |  |  | (53) |
Effect of tax rate in foreign jurisdictions | 2,610 |  |  | 457 |  |  | 563 |
Tax rate differences and tax rate changes | 843 |  |  | (1,203) |  |  | 348 |
Income tax benefit | $ | (5,929) |  |  | $ | (467) |  |  | $ | (165) |
Schedule of Deferred Tax Assets and Liabilities | The table below summarizes the principal components of the deferred tax assets (liabilities) as follows :
| December 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Loss carryforwards | $ | 24,983 |  |  | $ | 17,155 |
Mineral rights and properties | 4,952 |  |  | 6,273 |
Inventory | 1,489 |  |  | - |
Transaction and financing costs | 1,685 |  |  | 2,260 |
Lease liability | 97 |  |  | 128 |
Warranty liability | 815 |  |  | 815 |
Investment in partnership | 3,066 |  |  | - |
Other | 197 |  |  | 122 |
Deferred tax assets | $ | 37,284 |  |  | $ | 26,753 |
Valuation allowance | (34,697) |  |  | (24,819) |
Net deferred tax asset | $ | 2,587 |  |  | $ | 1,934 |
Deferred tax liabilities |  |  |
Investments in equity securities | (786) |  |  | (942) |
Intangible assets | (35) |  |  | (38) |
Right of use of assets | (86) |  |  | (120) |
Mineral rights and properties | (28,142) |  |  | (28,306) |
Other | (518) |  |  | (487) |
Deferred tax liabilities | $ | (29,567) |  |  | $ | (29,893) |
Deferred tax assets | 2,587 |  |  | 1,934 |
Net deferred tax liability | $ | (26,980) |  |  | $ | (27,959) |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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