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Income Taxes | 12 Months Ended
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Dec. 31, 2023
Major components of tax expense (income) [abstract] |
Income Taxes | Note 11 - Income Taxes Deferred Income Tax Liability The tax effects of temporary differences between amounts recorded in the Company's accounts and the corresponding amounts as computed for income tax purposes gives rise to deferred tax liabilities as follows:
|  | As at December 31,
| 2023 |  |  | 2022 |
Royalty interest | $ | (14,162) |  |  | $ | (14,288) |
Tax loss carryforwards | 12,504 |  |  | 13,120 |
Other | 843 |  |  | 71 |
Total liability | $ | (815) |  |  | $ | (1,097) |
As at December 31, 2023 and 2022, no deferred tax assets recognized on the following temporary differences as it was not probable that sufficient future taxable profit will be available to realize such assets:
|  | As at December 31, |  |
| 2023 |  |  | 2022 |  |  | Expiry Date Range
Tax loss carryforwards | $ | 12,024 |  |  | $ | 30,577 |  |  | 2026-2043
Exploration and evaluation assets | 11,733 |  |  | 2,017 |  |  | No expiry
Other | 24,070 |  |  | 18,693 |  |  | No expiry
Income Tax Expense
|  | For the year ended December 31,
| 2023 |  | 2022
Current tax expense | $ | 1,522 |  |  | $ | 771 |
Deferred tax expense (recovery) | (282) |  |  | 4,175 |
Total | $ | 1,240 |  |  | $ | 4,946 |
The provision for income taxes differs from the amount calculated using Canadian federal and provincial statutory income tax rates is as follows:
|  | For the year ended December 31,
| 2023 |  |  | 2022 |
Net income (loss) before taxes | $ | (3,393) |  |  | $ | 8,295 |
Statutory tax rate (%) | 27 |  |  | 27 |
Expected income tax (recovery) | $ | (916) |  |  | $ | 2,240 |
Impact of inflationary adjustments | (5,393) |  |  | - |
Non-deductible expenses arising from thin-capitalization | 4,181 |  |  | - |
Differences in foreign statutory tax rates | 975 |  |  | (1,411) |
Permanent differences | 895 |  |  | 1,608 |
Change in unrecognized deductible temporary differences and other | 1,289 |  |  | 2,383 |
Withholding taxes | 244 |  |  | 167 |
Foreign exchange | (35) |  |  | (41) |
Total | $ | 1,240 |  |  | $ | 4,946 |
Note 11 - Income Taxes (continued) On December 31, 2023, legislative changes became effective in Türkiye for hyperinflation tax accounting for the year ended December 31, 2023. The Company operates in multiple jurisdictions with complex tax laws and regulations which are evolving over time. The Company has taken certain tax positions in its tax filings and these filings are subject to audit and potential reassessment after the lapse of considerable time. Accordingly, the actual income tax may differ significantly from that estimated and recorded by management.

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