I'm sure it's just a matter of time before this additional incentive gets announced. It can be used alongside the recently approved OGPII.
Saskatchewan Petroleum Innovation Incentive (SPII)- SPII's one-of-a-kind design makes it one of the most flexible and usable oil, gas, helium or lithium innovation commercialization incentives in North America. When undertaking an innovative pilot, market validation or commercial scaling project across any segment of Saskatchewan's oil, gas, helium or lithium industry, eligible projects have the ability to redeem 25 per cent of their eligible capital and operating costs. These credit redemptions can even occur during the construction and operational phases of a project to help improve a company's cash flow.
- The credits are fully transferable, which gives non-producers/non-royalty payers an opportunity to benefit from the program, because they have the ability to transfer credits to oil, gas and helium Crown royalty and freehold production tax payers. Also, SPII encourages multi-company projects as costs can be incurred by a firm other than the principal applicant.
- SPII has a project-specific awarded credit cap of CAD$5 million (i.e. a maximum of up to CAD$20 million in recognized eligible costs per project).
- SPII can be used alongside other incentive and grant programs available in Saskatchewan.
Regarding OGPII:
"This conditional approval under the OGPII Program is a testament to how the province works with industry to find solutions to economic growth, and we are grateful to work with the governing bodies and operate our project there. This is one of the many development funding tools we have access to, which is a non-dilutive benefit to shareholders.” - PauL Lloyd
In SK they love drilling, they live for drilling. Jim Reiter probably calls up Paulo every week asking when he is dropping another well pad.
99.5% lithium carbonate, at the well head, for $2819, in Saskatchewan. It just couldn't be any better.
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