Nickel77, how about you show the board your info to which your refer or a link, instead of giving us your interpration of it and then laying out your version of a "what if". Saying that the company might not ever spend it is quite different than what they have said. They are "committed to incur" means just that. So I wouldn't be jumping the gun quite yet.
Here's what the company wrote in a public filing on SEDAR and they reference someone quite different than you do.
From the MD&A
The Company has non-capital losses for Canadian income tax purposes of approximately $4,100,000, which can be carriedf orward to reduce taxable income in future years. Unless utilized, these losses will expire through 2028. The tax benefits of these non-capital losses and other tax assets have not been recognized in the consolidated financial statements except to the extent that they can be used to offset future income tax liabilities that existed at the fiscal year end.
During the year ended September 30, 2007, the Company issued 3,000,000 common shares on a flow-through basis for gross proceeds of $18,000,000. The flow-through agreements require the Company to renounce certain tax deductions for Canadian exploration expenditures incurred on the Company's mineral properties to the flow-through participants. During the year ended September 30, 2008, the Company renounced exploration expenditures of $18,000,000 resulting in a charge to capital stock of $6,148,800 with a related increase in future income tax liability. As of September 30, 2008, the Company has not incurred the required qualifying exploration expenditures, of which approximately $9,240,000 is unexpended, and has recorded a flow-through share tax expense of an estimated amount of $454,665 (2007 - $Nil).
The Company is committed to incurring approximately $9,240,000 in qualifying exploration expenditures in Canada by December 31, 2008. If the Company does not expend these funds in compliance with the government of Canada flow-through regulations, it will be subject to further penalties and interest.
