Waxweazle,
The ~40% tax rebate from the Gov of Quebec is certainly significant, not only for FNC, but for other companies such as CHM. So presumably FNC would benefit from its 17.5% of the JV as well?
From the webpage below (part is attached) it looks like FNC is qualified for the rebate (need to be verfied though). Note: the amount for 2010 should be available in FNC Financial report for this period.
The question is WHEN this rebate will be given out to FNC...anyone?
http://www.sidex.ca/vpub/Quebec%20supplement%20%28Mining%20Journal%29.pdf
“The refundable tax credit for resources is available
to any corporation that operates in Québec and has
an establishment there during a fiscal year. The
concept of ‘establishment’ includes claim ownership.
The credit rate is 15% of eligible expenses for
operating corporations and 35% for non-producing
corporations. These rates increase to 18.75% and
38.75% for exploration work performed in the Near
or Far North regions of Québec.
Eligible expenses include prospecting and
geological, geophysical, or geochemical surveys as well….”
goldhunter
