INCOME AND MINING TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of deferred income tax recovery (expense)


	2017		2016		2015
United States	$	10,349	$	515	$	(442)
Foreign		5,020		3,234		25,002
Deferred tax benefit	$	15,369	$	3,749	$	24,560

Schedule of net income (loss) before tax


	2017		2016		2015
United States	$	(19,913)	$	(13,959)	$	(19,935)
Foreign		(6,090)		31,265		(25,075)
Net (loss) income before tax	$	(26,003)	$	17,306	$	(45,010)

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 recovery at	2017		2016		2015
(Loss) income before income and mining taxes	$	(26,003)	$	17,306	$	(45,010)
Statutory tax rate		35%		34%		34%
US Federal and State tax recovery at statutory rate		(9,101)		5,884		(15,303)
Reconciling items:
Equity pickup in MSC		(16)		(4,533)		(821)
Impairment of MSC		—		—		4,004
Deferred foreign income inclusion		21,002		—		—
Foreign tax credits		(16,628)		—		—
Tax rate changes		28,048		—		—
Revisions to prior year estimates		(573)		(828)		906
Adjustment for foreign tax rates		115		(501)		(1,230)
Other permanent differences		(1,761)		818		(15,694)
Unrealized foreign exchange rate (loss)/gain		2,469		5,972		9,389
NOL expires and revisions		(2,233)		586		1,215
Valuation allowance		(36,691)		(11,147)		(7,026)
Tax benefit	$	(15,369)	$	(3,749)	$	(24,560)

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


	2017		2016
Deferred tax assets:
Net operating loss carryforward	$	72,078	$	96,312
Mineral Properties		59,905		14,195
Other temporary differences		862		1,114
Total gross deferred tax assets		132,845		111,621
Less: valuation allowance		(123,648)		(111,621)
Net deferred tax assets	$	9,197	$	—
Deferred tax liabilities:
Acquired mineral property interests		(17,627)		(23,655)
Total deferred tax liabilities	$	(17,627)	$	(23,655)
Total net deferred tax liability	$	(8,430)	$	(23,655)

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
2017	$	111,621	$	51,220	$	(39,193)	$	123,648
2016		122,768		1,430		(12,577)		111,621
2015		129,794		6,873		(13,899)		122,768

(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 release of valuation allowance, reductions in deferred tax rates, 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	$	165,654	2018-2037
Mexico	Non-operating losses		33,355	2018-2027
Canada(a)	Non-operating losses		29,906	2018-2037
Argentina(a)	Non-operating losses		78,964	2018-2022

(a)

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