Author Archives for Kyle Bergstrom

Stock Options in a Surging Mining Market

April 1, 2026 12:32 pm Published by Kyle Bergstrom Leave your thoughts

Tax Exposure Is Rising Faster Than You Think April 1, 2025 The mining sector is once again operating in a strong commodity price environment, with key metals and minerals trading at levels that are elevated relative to historical norms and recent cycles. This strength has translated into equity markets, where many publicly listed mining issuers have experienced significant share price appreciation over relatively short periods, particularly when measured from recent cyclical lows. For management teams, boards, and advisors, this has created significant value. It has also created significant tax exposure. Stock options granted during lower valuation periods are now deeply

Quebec Flow-Through Shares Reset

February 25, 2026 2:43 pm Published by Kyle Bergstrom Leave your thoughts

What the 2025 Budget Means for Mining Issuers and Investors February 25, 2025 Quebec’s March 25, 2025 budget fundamentally reshaped the province’s flow-through share (FTS) regime, significantly altering the economics of FTS financings and the after-tax returns available to investors. With the 2026 tax reporting season underway and transitional relief now expired, mining companies, public issuers, and individual investors must now operate within a materially narrower provincial framework. While Quebec remains one of the world’s most important mining jurisdictions, its tax incentives for exploration investment are no longer the outlier they once were. Quebec’s Former Competitive AdvantageFor many years, Quebec