Quebec has a combined federal+provincial GST rate of approximately 15% - This could also be GST claimed back from the previous quarters operating (ie drilling and exploration) costs.
The Canadian parties buying the FTF shares (before selling to the AU instos) pay a premium because they get the tax immediate tax benefit.
Our upside is more funding available and less dilution. The downside is when we eventually start producing income, the FTF exploration expenses are already written off, so we will pay a bit more tax at that point. But, by that stage our MC is in the $B's, we have hopefully found a way to access the Renard Losses and writing off drilling expenses is immaterial...
WR1 Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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