v3.25.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Taxes

Deferred tax assets and liabilities

(in thousands)		2025				2024
Deferred tax assets:
Loss carryovers		$	13,037			$	12,806
Mineral Property			1,669				1,669
Capitalized Exploration Costs			2,194				1,771
Stock option compensation expense			323				292
Other			268				162
Unrealized loss on short-term investments			213				29
Lease Liability			2				12
Valuation allowance			(17,701	)			(16,722	)
Total deferred tax assets			5				19
Deferred tax liabilities:
Lease Asset			2				11
Basis difference on fixed assets			3				8
Total deferred tax liabilities			5				19
Net deferred tax liabilities		$	-			$	-

Income tax from continuing operations

(in thousands)		2025
Expected income tax benefit		$	(805	)			21.0	%
Equity based compensation			-				-
Foreign tax rate differences - Canada			(1	)			0.03	%
Foreign tax rate differences - Peru			(17	)			0.44	%
US/Colorado state income tax, net of federal tax benefit			(115	)			2.98	%
Change in valuation allowance – U.S.			1,098				(28.68	)%
Change in valuation allowance – Canada			(138	)			3.60	%
Change in valuation allowance – Peru			17				(0.44	)%
Prior year return reconciliation			(38	)			0.97	%
Permanent differences and other			(1	)			0.02	%
Income tax (benefit) expense		$	-				-

(in thousands)		2024
Expected income tax benefit		$	(1,127	)
Foreign tax rate differences			(7	)
State income tax			(181	)
Change in valuation allowance			1,421
Prior year return reconciliation			(104	)
Permanent differences and other			(2	)
Income tax (benefit) expense		$	-

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- References

No definition available.

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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

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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