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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of deferred income tax recovery (expense)


	2016		2015		2014
United States	$	515	$	(442)	$	215
Foreign		3,234		25,002		106,955
Deferred tax benefit	$	3,749	$	24,560	$	107,170

Schedule of net income (loss) before tax


	2016		2015		2014
United States	$	(13,959)	$	(19,935)	$	(21,436)
Foreign		31,265		(25,075)		(397,677)
Net income (loss) before tax	$	17,306	$	(45,010)	$	(419,113)

Schedule of reconciliation of the tax provision at statutory U.S. Federal and State income tax rates to the actual tax provision recorded in the financial statement


Expected tax benefit at	2016		2015		2014
Income (loss) before income taxes	$	17,306	$	(45,010)		(419,113)
Statutory tax rate		34%		34%		34%
US Federal and State tax benefit at statutory rate		5,884		(15,303)	$	(142,498)
Reconciling items:
Equity pickup in MSC		(4,533)		(821)		1,850
Impairment of MSC		—		4,004		7,407
Revisions to prior year estimates		(828)		906		8,330
Adjustment for foreign tax rates		(501)		(1,230)		(1,803)
Other permanent differences		818		(15,694)		(14,760)
Unrealized foreign exchange rate (loss)/gain		5,972		9,389		19,444
NOL expired		586		1,215		10,268
Valuation allowance		(11,147)		(7,026)		4,592
Tax benefit		(3,749)		(24,560)	$	(107,170)

Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities


	2016		2015
Deferred tax assets:
Net operating loss carryforward		96,312		105,555
Mineral Properties		14,195		11,842
Other temporary differences		1,114		5,371
Total gross deferred tax assets		111,621		122,768
Less: valuation allowance		(111,621)		(122,768)
Net deferred tax assets	$	—	$	—
Deferred tax liabilities:
Acquired mineral property interests		(23,655)		(26,899)
Total deferred tax liabilities	$	(23,655)	$	(26,899)
Total net deferred tax liability	$	(23,655)	$	(26,899)

Summary of changes in valuation allowance


For the year ended December 31,	Balance at beginning of period		Additions(a)		Deductions(b)		Balance at end of period
2016	$	122,768	$	1,430	$	(12,577)	$	111,621
2015		129,794		6,873		(13,899)		122,768
2014		125,202		11,514		(6,922)		129,794

(a)

The additions to valuation allowance mainly results from the Company and its subsidiaries incurring losses and exploration expenses for tax purposes which do not meet the more-likely-than-not criterion for recognition of deferred tax assets.

(b)

The reductions to valuation allowance mainly results from expiration of the Company's tax attributes and foreign exchange reductions of tax attributes in Mexico and Argentina.

Summary of company’s non operating losses that can be applied against future taxable profit


Country	Type of Loss	Amount		Expiry Period
United States(a)	Non-operating losses	$	160,900	2017-2036
Mexico	Non-operating losses		31,810	2017-2026
Canada	Non-operating losses		19,055	2017-2036
Argentina	Non-operating losses		79,807	2017-2021

(a)

The losses in the United States and Argentina are part of multiple consolidating groups, and therefore, may be restricted in use to specific projects.