Quebec Flow-Through Shares Reset
February 25, 2026 2:43 pm Leave your thoughtsWhat 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
