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INCOME TAXES
12 Months Ended
Dec. 31, 2017
INCOME TAXES  
INCOME TAXES

 

17.INCOME TAXES

 

A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows:

 

 

 

Year ended
December 31,
2017

 

Year ended
December 31,
2016

 

Net loss

 

$

(2,879

)

$

(2,877

)

Statutory tax rate

 

26.0

%

26.0

%

 

 

 

 

 

 

Expected income tax recovery at the statutory tax rate

 

(749

)

(748

)

Permanent differences and other

 

(2

)

(80

)

Change in valuation allowance

 

751

 

828

 

 

 

 

 

 

 

Net deferred Income tax recovery

 

$

 

$

 

 

 

 

 

 

 

 

 

 

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

 

 

 

December 31,
2017

 

December 31,
2016

 

Exploration and evaluation assets

 

$

18

 

$

14

 

Loss carry-forwards

 

3,048

 

2,366

 

Share issuance costs

 

237

 

175

 

Cumulative eligible capital

 

32

 

32

 

Equipment

 

93

 

91

 

 

 

 

 

 

 

 

 

3,428

 

2,678

 

Valuation allowance

 

(3,428

)

(2,678

)

 

 

 

 

 

 

Net deferred tax asset

 

$

 

$

 

 

 

 

 

 

 

 

 

 

The tax pools relating to these deductible temporary differences expire as follows:

 

 

 

Canadian
non-capital
losses

 

Canadian
net-capital
losses

 

Canadian
resource pools

 

Canadian
share issue
costs

 

2030

 

$

696

 

$

 

$

 

$

 

2031

 

517

 

 

 

 

2032

 

645

 

 

 

 

2033

 

847

 

 

 

 

2034

 

1,484

 

 

 

 

2035

 

2,141

 

 

 

 

2036

 

2,712

 

 

 

 

2037

 

2,622

 

 

 

 

 

 

 

No expiry

 

 

57

 

50,575

 

912

 

 

 

 

 

 

 

 

 

 

 

 

 

$

11,664

 

$

57

 

$

50,575

 

$

912