INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Major components of tax expense (income) [abstract]

Disclosure Of Detailed Information About Components Of Tax Expense (Recovery)

The major components of income tax expense / (recovery) are as follows:

	Year ended December 31,
	2022		2021
Current income tax expense	$	—	$	200
Deferred income tax expense / (recovery)	(11,833)		19,853
Income tax expense / (recovery)	$	(11,833)	$	20,053

(b)The income tax expense for the year can be reconciled to the accounting profit as follows:

	December 31,			December 31,
	2022			2021
Income / (loss) before income tax	$	(91,030)		$	108,276
Canadian federal and provincial income tax rates	(24,578)		27%	29,235		27%
Increase / (decrease) due to:
Permanent differences	873		(1)	518		—
Impact of foreign tax rates	3,494		(4)	(7,575)		(7)
Other foreign exchange differences	(3,028)		3	959		1
Prior year's adjustments relating to tax provision and tax returns	727		(1)	—		—
Change in unrecognized deferred taxes	10,829		(12)	(3,214)		(3)
Other	(150)		—	130		—
Income tax expense / (recovery)	$	(11,833)	13%	$	20,053	19%

Schedule of Deferred Tax Assets / (Liabilities)

Movement in net deferred tax liabilities:

	December 31, 2022		December 31, 2021
Balance at the beginning of year	$	(19,853)	$	—
Recognized in profit / (loss)	11,833		(19,853)
Balance at the end of the year	$	(8,020)	$	(19,853)

The following is the analysis of deferred tax assets / (liabilities) presented in the consolidated statements of financial position:

	December 31, 2022		December 31, 2021
Deferred income tax assets
Unused losses	$	26,054	$	8,117
Financing costs	422		562
Asset retirement obligation	17,269		14,188
Other	29,109		4,131
Gross deferred tax asset	$	72,854	$	26,998
Offset by deferred income tax liabilities	(58,395)		(23,316)
Net deferred tax asset	$	14,459	$	3,682
Deferred income tax liabilities
Inventory	(983)		(350)
Capital assets	(43,559)		(39,492)
Other	(21,873)		(3,327)
Gross deferred tax liabilities	$	(66,415)	$	(43,169)
Deferred income tax liabilities used to offset deferred tax asset	58,395		23,316
Net deferred income tax assets / (liabilities)	$	(8,020)	$	(19,853)

The deductible temporary differences and unused tax losses in respect of which a deferred tax asset has not been recognized in the consolidated statements of financial position are as follows:

	Year ended December 31, 2022				Year ended December 31, 2021
	Canada		United States		Canada		United States
Deferred tax assets not recognized
Loss carry forwards	$	25,953	$	—	$	5,078	$	—
Conversion feature	—		—		8,493		—
Financing costs	—		—		2,082		—
Other	20,710		—		82		—
Total deferred tax assets not recognized	$	46,663	$	—	$	15,735	$	—
Non capital loss carry‑forwards	$	25,953	$	—	$	5,078	$	—