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INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes - Schedule of Components of Income Tax Expense Benefit

The components of the income tax benefit from continuing operations are:

Income Taxes - Schedule of Components of Income Tax Expense Benefit

		Three-Month Period Ended June 30,								Six-Month Period Ended June 30,
		2024				2023				2024				2023
Current taxes – PRC		$	33,224			$	—			$	33,224			$	—
Deferred tax – PRC entities			(1,241,334	)			(192,699	)			(2,511,394	)			(393,255	)
Total Income tax (expenses) benefits		$	(1,208,110	)		$	(192,699	)		$	(2,478,170	)		$	(393,255	)

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at June 30, 2024 and December 31, 2023 are as follows:

Income Taxes - Schedule of Deferred Tax Assets and Liabilities

		June 30,				December 31,
		2024				2023
Deferred tax liabilities		$	—			$	—
Deferred tax assets:
Exploration costs			1,746,984				1,757,816
PRC tax losses			14,371,266				11,941,045
US federal net operating loss			1,751,043				1,694,013
Total deferred tax assets			17,869,293				15,392,874
Valuation allowance			(13,590,877	)			(13,533,849	)
Net deferred tax asset		$	4,278,416			$	1,859,025

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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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