News that the federal government plans to introduce, at the start of 1989, an exploration incentive, or grant, scheme to help junior resource firms raise funds for exploration programs seems to have had some early results.
From Vancouver, NIM Resources — 1988 and Co. Ltd. Partnership reports the filing of a preliminary prospectus across Canada for an offering of up to two million units worth $200 million, the proceeds to be used to purchase flow-through shares of both mining and oil and natural gas companies engaged in exploration.
The 33 1/3% earned depletion allowance, which helps to make flow-through shares an attractive mining investment, will be phased out at the end of this year for individual investors.
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