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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Major components of tax expense (income) [abstract]

Income Tax Recognized in Profit or Loss

Income tax recognized in profit or loss is comprised of the following:


		Years ended December 31,
			2024				2023
		$				$
Deferred income tax (recovery)/expense			(10,659	)			10,659
Total income tax (recovery)/expense			(10,659	)			10,659

Summary of Reconciliation of Income Taxes at Canadian Statutory Rates with Reported Taxes

A reconciliation of income taxes at Canadian statutory rates with reported taxes is as follows:


		Years ended December 31,
		2024			2023			2022
		$			$			$

(Loss)/income from continuing operations before taxes			(25,899	)		28,240			(32,527	)
Income/(loss) from discontinuing operations before taxes			-			1,270,788			(61,041	)
Total (loss)/income before taxes			(25,899	)		1,299,028			(93,568	)

Statutory tax rate			27	%		27	%		27	%

Expected income tax (recovery)/expense at statutory tax rate			(6,993	)		350,737			(25,263	)

Items not taxable for income tax purposes			(4,311	)		(348,159	)		9,846
Effect of lower tax rate in foreign jurisdiction			-			(162	)		3,048
Foreign exchange related to the weakening of the Argentine Pesos			-			5,670			-
Change in unrecognized deferred tax assets and other			645			2,573			12,369
Tax (recovery)/expense			(10,659	)		10,659			0

23.

INCOME TAXES (continued)

Summary of Significant Components of Company's Deferred Tax Assets and Liabilities

The significant components of the Company's deferred tax assets and liabilities are as follows:


		December 31, 2024				December 31, 2023
		$				$
Deferred tax assets:
Tax loss carryforwards			8,351				16,498
Loans to Exar Capital			217				217
Exploration and evaluation assets			21				-
Capital assets			5,234				95
Investment in Cauchari-Olaroz project			71				-
Other			-				268
Deferred tax assets			13,894				17,078

Deferred tax liabilities:
Investment in Cauchari-Olaroz project			-				(1,313	)
Investment in Arena Minerals			-				(10,659	)
Financing costs			(2,295	)			(2,295	)
Convertible debt			(11,290	)			(13,470	)
Other			(309	)			-
Deferred tax liabilities			(13,894	)			(27,737	)

Deferred income tax liability			0				(10,659	)

Summary of Temporary Differences for Deferred Tax Assets Recognized

Deductible temporary differences for which no deferred tax assets are recognized as follows:


		December 31, 2024				December 31, 2023
		$				$
Tax loss carryforwards			45,848				48,771
Other			32,564				25,965
			78,412				74,736