Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of deferred tax assets and liabilities

Our deferred tax assets and liabilities at December 31, 2012, and 2011 include the following components:

	As of December 31,
	2012			2011
Deferred tax assets:
Offering costs	$	120		$	595
Non-capital loss carryovers	222,213			191,182
Capital loss carryovers	741			907
Mine property costs	7,118			7,154
Reclamation costs	9,765			6,638
Unrealized loss on available for sale investments	508			(173		)
Other	9,609			5,061
Valuation allowance	(163,890		)	(131,208		)
Future tax assets	86,184			80,156
Deferred tax liabilities:
Mine property costs	114,595			102,948
Derivatives	4			1,094
Other	—			107
Deferred tax liabilities	114,599			104,149
Net deferred tax liabilities	$	28,415		$	23,993

Schedule of the valuation allowance by tax jurisditction

The composition of our valuation allowance by tax jurisdiction is summarized as follows:

	As at December 31,
	2012		2011
Canada	$	42,832	$	46,254
U.S.	15		228
Ghana	121,043		84,067
Burkina Faso	—		659
Total valuation allowance	$	163,890	$	131,208

Components of the provision for income taxes

The income taxes expense includes the following components:

	For the years ended December 31,
	2012		2011		2010
Current expense:
Canada	$	—	$	—	$	—
Foreign	12,393		2,669		1,487
Deferred tax expense:
Canada	—		—		—
Foreign	4,423		8,315		3,990
Total expense	$	16,816	$	10,984	$	5,477

Reconciliation schedule of the expected income tax on net income before minority interest

A reconciliation of expected income tax on net income before minority interest at statutory rates with the actual expenses (recovery) for income taxes is as follows:

	For the years ended December 31,
	2012			2011			2010
Net income /(loss) before tax	$	6,601		$	8,482		$	(9,128	)
Statutory tax rate	25.0		%	26.5		%	28.5		%
Tax expense/(benefit) at statutory rate	$	1,650		$	2,248		$	(2,601	)
Foreign tax rates	(6,193		)	(7,340		)	(7,548		)
Change in tax rates	(22,145		)	3,395			659
Expired loss carryovers	6,144			—			—
Ghana investment allowance	300			(513		)	(761		)
Non-deductible stock option compensation	1,303			884			848
Non-deductible expenses	270			376			543
Nondeductible convertible debenture	6,096			—			—
Loss carryover not previously recognized	627			(1,189		)	2,321
Ghana property basis not previously recognized	(3,523		)	(1,385		)	912
Change in future tax assets due to exchange rates	(445		)	738			(1,864		)
Change in valuation allowance	31,932			10,881			10,907
National Tax Levy	—			2,669			1,488
Other	800			220			573
Income tax expense /(recovery)	$	16,816		$	10,984		$	5,477

Schedule of the tax pool and loss carryovers expiring

At December 31, 2012, we had tax pool and loss carryovers expiring as follows:

	Canada		Ghana
2013	$	—	$	46,294
2014	—		—
2015	3,831		—
2016	—		31,233
2026	15,800		—
2027	16,096		—
2028	14,468		—
2029	22,248		—
2030	20,421		—
2031	38,314		—
Indefinite	5,930		459,423
Total	$	137,108	$	536,950