Canadian Mining Journal

News

TAX CREDITS: PDAC urges support for flow-through shares, METC



TORONTO – The Prospectors & Developers Association of Canada is once again reminding the industry that the federal government is now reviewing the flow-through share system and Mineral Exploration Tax Credit (METC). Both financing tools are the lifeblood of grassroots exploration, says the PDAC, and a major reason why Canada is a global leader in mineral exploration and mining.

PDAC wants the METC to be renewed and the investment benefits of flow-through shares to continue. Both measure have been a boon to the exploration industry as metals and commodity prices languished for several years. Losing either of them – or both – would be a major setback for the sector, just as there appears to be renewed interest in junior mines. Without support for the explorationists, there will be no new discoveries and no new mines that contribute so much to the Canadian economy.

The association has created a new flow-through section on its website.

First are the results of a questionnaire completed by 54 industry representatives outlining how they use flow-through funds.

Second is a list of case studies showing how seed money for exploration activity can lead to the development of a mine.

Third there are interviews with executive of Canadian mining companies with their opinion on the need for flow-through shares.

Visit the PDAC website to learn more.