| Income Taxes - Schedule of Components of Income Tax Expense Benefit |
The components of the provision for income tax benefit (expense)
from continuing operations are:
Income Taxes - Schedule of Components of Income Tax Expense Benefit
| |
|
|
|
|
|
|
|
|
| | |
Years Ended December 31, |
| | |
2024 | |
2023 |
| Current taxes – PRC | |
$ | (15,204 | ) | |
$ | (322,890 | ) |
| Deferred taxes – PRC entities | |
| (1,632,978 | ) | |
| (3,215,727 | ) |
| Total Income tax (expenses) benefits | |
$ | (1,648,182 | ) | |
$ | (3,538,617 | ) |
|
| Income Taxes - Schedule of Deferred Tax Assets and Liabilities |
Significant components of the
Company’s deferred tax assets and liabilities on December 31, 2024, and December 31, 2023, are as follows:
Income Taxes - Schedule of Deferred
Tax Assets and Liabilities
| | |
December 31, | |
December 31, |
| | |
2024 | |
2023 |
| Deferred tax assets: | |
| | | |
| | |
| Exploration costs | |
$ | 1,731,920 | | |
$ | 1,757,816 | |
| Allowance | |
| 729,731 | | |
| — | |
| Impairment of property plant and equipment | |
| 1,686,095 | | |
| — | |
| PRC tax losses | |
| 9,125,871 | | |
| 11,941,045 | |
| US federal net operating loss | |
| 1,661,464 | | |
| 1,694,013 | |
| Total deferred tax assets | |
| 14,935,081 | | |
| 15,392,874 | |
| Valuation allowance | |
| (14,935,081 | ) | |
| (13,533,849 | ) |
| Net deferred tax asset | |
$ | — | | |
$ | 1,859,025 | |
|