unused non capital tax losses & additional capital tax losses.I do not think these are factored into the share price. Taken from the annual report.
Income taxes
At December 31, 2012, the Company and its subsidiaries had unused non-capital tax losses carried forward totaling approximately $393.4 million, which expire between 2025 and 2032, and can be used to reduce taxable income. In addition, the Company has capital losses of approximately $124.4 million, which are available indefinitely, but can only be utilized against capital gains. Although the Company expects to realize the full benefit of the loss carry forwards and other deferred tax assets, due to economic conditions over the last several years, these losses have not been recognized as tax assets.