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Stria Lithium Inc V.SRA.P


Primary Symbol: V.SRA Alternate Symbol(s):  SRCAF

Stria Lithium Inc. is a Canada-based emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries. The Company's projects include Pontax Central Project and Jeremiah Project. The Pontax Central lithium spodumene pegmatite dyke (LSPD) project is a joint venture project between Cygnus Metals 51% and Stria Lithium 49%, whereby Cygnus can earn up to 70% interest in the project. The project has approximately 68 contiguous map-designated claims, having a total area of 3,613 hectares (ha). The Jeremiah property consists of around 12 titles for a total 683 ha. The property is located near the village of St-Mathieu d'Harricana, and accessible through private forestry roads. Its Romer Polymetallic property consists of approximately 57 contiguous and two isolated map-designated mining claims, having a total surface area of 2,592.1 (ha). The property is an early-stage exploration project.


TSXV:SRA - Post by User

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Post by basherbusteron Dec 13, 2018 12:08pm
119 Views
Post# 29110369

Found this on another board

Found this on another board

Feds commit to five-year renewal of mineral exploration tax credit


Canadian budget update full of goodies for miners

6

In a move long sought by mineral explorers active in Canada, Canada’s federal government has extended its mineral exploration tax credit (METC) for five years, in contrast to the prior tradition of renewing it annually.

The news came in November as part of the government’s fall economic statement, which included a $17.6-billion suite of business-friendly tax measures and investments that should benefit firms in the mineral sector.

The METC allows qualifying explorers (that don’t generate revenue from which to deduct expenses) to pass deductions on to investors by selling them flow-through shares. Investors also get an extra 15% tax credit when investing in what are now known as “super flow-through shares.”

The latest iteration of the METC was set to expire on March 31, 2019.

The government estimates the METC extension will lower revenues by $365 million over the five years.

Between 2010 and 2016, companies raised an average $505 million each year under the METC, according to the government.

The Prospectors and Developers Association of Canada (PDAC) says this marks the first multi-year extension of the METC since its iteration was introduced in 2000. It was later renewed annually by successive governments.

“We are pleased that the government has heard our concerns about Canada’s waning competitiveness and adopted our recommendation,” says Lisa McDonald, PDAC interim executive director and chief operating officer.

The Mining Association of Canada (MAC) also lauded the government for announcing two other tax measures, which should help miners and metal producers by helping firms write off three times the eligible costs of newly bought assets in the acquisition year, and write off the full cost of clean energy equipment.

“The enhanced treatment of capital expenditures in the first year for mining and metal manufacturing provides an important incentive to invest in Canada,” MAC head Pierre Gratton says. “The write-off of the full cost of clean energy equipment will serve to incentivize investments in northern Canada where access to grid power does not exist, supporting a transition to low carbon energy alternatives.”

Gratton adds that he hopes miners can write off the cost of switching to electric haul trucks and other equipment.

MAC welcomed several other measures in the government announcement: another $800 million over five years for the Strategic Innovation Fund; a commitment to boost overseas exports 50% by 2025; a proposed $13.6-million increase to the multimodal integrated passenger-freight information system; bolstering the Canadian Trade Commissioner Service; a suite of proposals to improve regulatory competitiveness; and accelerated investment of $773.9 million over the next five years of national, trade-corridors funding.

MAC notes these moves will help Canada compete for investment in light of recent tax changes in the United States.


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