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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (52159)	11/23/2018 9:00:17 AM
From: Goose94	Read Replies (1) \| Respond to of 203019

Sabina Gold & Silver (SBB-T) Canadian mining industry has applauded the latest budget update, which provides tax credits and incentives at a time when the sector is struggling. Mining lobbyist Pierre Gratton as saying, "To be quite candid, it is the most positive economic statement or budget for the mining sector that we have seen in years, without question." The Liberal government is targeting mining companies, both large and small, by extending the Mineral Exploration Tax Credit -- which allows companies searching for new mineral deposits to pass on tax credits to their investors -- from one year to five years; and another provision allows mining companies to immediately take larger tax write-offs on large capital investments in equipment and machinery. The tax breaks come as the mining industry is in the midst of a downturn. "I've been in this business since 1978 and I don't think I've ever seen the sentiment this bad," said Bruce McLeod at Sabina Gold, which is building a gold mine in Nunavut. The number of mining companies listed on the Toronto Stock Exchange and TSX Venture Exchange has declined to 1,195 from more than 1,400 in 2008.