FEDERAL INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

FEDERAL INCOME TAXES.

Schedule of Components of Future Tax Assets and Liabilities

	December 31,
	2021		2020
	(thousands of dollars)
Deferred tax assets:
Non‑Current:
Net operating loss carryforwards	$	21,016	$	16,009
Mineral properties		5,017		3,177
Accrued vacation		25		18
Capital loss carryforwards		22,523		22,176
Restoration reserves		405		—
Capitalized transaction costs		1,157		1,138
Other		3,580		3,686
Deferred tax assets		53,723		46,204
Valuation allowance		(53,723)		(46,204)
Net deferred tax assets		—		—
Deferred tax liabilities		—		—
Net deferred tax asset (liability)	$	—	$	—

Schedule of Valuation Allowance by Tax Jurisdiction

	December 31,
	2021		2020
	(thousands of dollars)
United States	$	42,069	$	34,190
Australia		5,096		5,380
Turkey		6,558		6,634
Total valuation allowance	$	53,723	$	46,204

Schedule of Loss From Operations Before Income Taxes

	For the year ended December 31,
	2021		2020
	(thousands of dollars)
United States	$	(16,103)	$	(13,881)
Australia		(6)		8
Turkey		(35)		(39)
	$	(16,144)	$	(13,912)

Schedule of Reconciliation of Expected Income Tax on Net Income at Statutory Rates

	Year ended December 31,
	2021		2020
	(thousands of dollars)
Net loss	$	(16,144)	$	(13,912)
Statutory tax rate		21%		21%
Tax recovery at statutory rate		(3,390)		(2,922)
State tax rate		(1,173)		938
Foreign tax rate		(2)		1
Change in US tax rates		(759)		309
Other adjustments		97		(9)
Capital loss carryforward adjustment		—		(21)
Operating loss carryforward adjustment		(1,409)		(218)
Operating loss Section 382 adjustment		(7)		978
Anatolia Energy Ltd Share issue Cost adjustment		—		270
Nondeductible write‑offs		(78)		7
Sale of Uranium Entities		(799)		(10,553)
Change in valuation allowance		7,520		11,220
Income tax expense (recovery)	$	—	$	—