Note 3 - Income and Mining Taxes

6 Months Ended

Jun. 30, 2025

Disclosure Text Block [Abstract]

Income and Mining Taxes

Note 3. Income and Mining Taxes

Major components of our income and mining tax for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Current:
Domestic	$	(2,713	)	$	(1,961	)	$	(5,328	)	$	(2,953	)
Foreign		(3,560	)		(1,275	)		(3,869	)		(2,254	)
Total current income and mining tax provision		(6,273	)		(3,236	)		(9,197	)		(5,207	)
Deferred:
Domestic		(19,288	)		(11,440	)		(31,012	)		(16,623	)
Foreign		(7,000	)		5,596			(8,497	)		10,935
Total deferred income and mining tax provision		(26,288	)		(5,844	)		(39,509	)		(5,688	)
Total income and mining tax provision	$	(32,561	)	$	(9,080	)	$	(48,706	)	$	(10,895	)

The income and mining tax provision for the three and six months ended June 30, 2025 and 2024 varies from the amounts that would have resulted from applying the statutory tax rates to pre-tax income or loss due primarily to the impact of taxation in foreign jurisdictions, non-recognition of net operating losses and foreign exchange gains and losses in certain jurisdictions.

For the three and six months ended June 30, 2025, we used the annual effective tax rate method to calculate the tax provision. Valuation allowances on Nevada, Mexico and certain Canadian net operating losses were treated as discrete adjustments to the tax provision.

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the U.S. The OBBBA permanently extends multiple tax provisions of the 2017 Tax Cuts and Jobs Act, as well as repeals, modifies and introduces various other tax provisions. We do not anticipate the OBBBA to have a material impact to the Company's consolidated financial statements. We continue to evaluate the impact the OBBBA may have on the Company as the legislation has various future effective dates.