v3.26.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax [Abstract]  
Schedule of Income Tax Recovery

Income tax recovery differs from the amount that would result from applying the Canadian federal and provincial income tax rates to loss before income taxes. These differences result from the following items:

 

For the year ended December 31,  2025   2024 
Loss before income taxes  $(41,721)  $(77,081)
Combined federal and provincial income tax rates   27%   27%
Expected income tax recovery  $(11,265)  $(20,812)
Non-deductible expenses   664    1,730 
Share issuance costs   (118)   (157)
Expiry of losses   1,159    308 
Difference in tax rates in foreign jurisdictions   (17)   1,140 
Tax effect of temporary differences for which no tax benefit has been recognized   10,959    17,034 
Foreign exchange and other   (814)   757 
Income tax payable  $568   $
-
 
Schedule of Unused Tax Losses and Other Deductible Temporary Differences

Unused tax losses and other deductible temporary differences for which deferred tax assets have not been recognized are as follows:

 

As at December 31,  2025   2024 
Non-capital losses (see below for expiry)  $52,553   $45,978 
Restricted interest and financing expenses (expires 2044-2045)   6,199    
-
 
Deferred revenue   3,674    
-
 
Exploration and evaluation expenditures   231,835    205,854 
Other   2,560    2,768 
   $296,821   $254,600 
Schedule of Non-Capital Losses May be Applied to Reduce Future Taxable Income

The non-capital losses may be applied to reduce future taxable income. The loss carry-forwards are in respect of Canadian, Peruvian, Chilean, Mexican, Ecuadorian and United States of America operations and expire as follows:

 

As at December 31,  2025   Expiry  2024   Expiry
Canada  $26,426   2033-2045  $26,818   2033-2044
Peru   7,198   2026-2029   4,990   2025-2028
Chile   5,108   No expiry   2,284   No expiry
Mexico   5,292   2026-2035   3,621   2025-2034
Ecuador   8,506   2026-2030   8,249   2025-2029
USA   23   No expiry   16   No expiry
   $52,553      $45,978