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Replies to post #5597 on International Battery Metals Ltd (IBATF)
03/29/23 2:52 PM
In a tight vote, the bill was rejected with 73 votes in favor, 71 against, and 3 abstentions (under the Chamber’s regulation, abstentions count as against votes since the quorum needed for passing a bill is 50% plus 1), with the abstentions being unexpected under the Government’s calculations.
The rejection of the bill means that the Government has the alternative to move forward in the Senate, for which it would need two-thirds of a quorum to get approval, or else let one year pass before filing a new bill. The Finance Minister Mario Marcel indicated that the Government would opt for the latter
03/31/23 12:15 AM
THIS IS VERY BIG NEWS, @e3lithium has been asking for this since 2018, this will be huge for #alberta brines resources as it unlocks a huge funding opportunity never accessible before. #Budget23
Flow-through shares and Critical Mineral Exploration Tax Credit - Lithium from brines.
The budget amends the Act to include lithium from brines as a mineral resource and expands the eligibility of the Critical Mineral Exploration Tax Credit (CMETC) to include lithium from brines.
This means everyone in the brine space can now raise flow through funds, very exciting, and much needed.
Thank you Minister Jonathan Wilkinson and your great staff for working through this for our industry!
Liz Lappin; we did it!
Flow-through shares and Critical Mineral Exploration Tax Credit — Lithium from brines
The budget amends the Act to include lithium from brines as a mineral resource and
expands the eligibility of the Critical Mineral Exploration Tax Credit (CMETC) to include
lithium from brines. As a result, relevant principal-business corporations that undertake
certain exploration and development activities can issue flow-through shares and renounce
expenses to their investors.
Eligible expenses related to lithium from brines made after March 28, 2023, will qualify as
Canadian exploration expenses and Canadian development expenses. The expansion of
the eligibility of the CMETC to lithium from brines applies to flow-through share agreements
entered into after March 28, 2023, and before April 2027
President Alberto Fernández of Argentina used a White House meeting Wednesday to spotlight the economic strain his country faces as he looks for President Joe Biden to back Argentina's effort to renegotiate with the International Monetary Fund on terms of $44 billion debt.
The United States has veto power in the IMF, so any sign of support from Biden to revise requirements to the debt agreement would be seen as a positive for Argentina while talks continue.
In comments to reporters at the start of their meeting, Fernández noted that Argentina's economy has endured the “worst drought” in the country in more than 90 years. He also noted the Russia's war in Ukraine has caused rippling effects on his country's economy and others.
“We certainly look forward to your continued support as you have done so far," Fernández said.
Washington is increasingly concerned about China’s involvement in Argentina, particularly the planned construction of two nuclear plants in Buenos Aires by Chinese companies, and may seek concessions from Argentina in exchange for support with the IMF.
Biden did not directly address the IMF issue but said the moment presented an opportunity to increase U.S.-Argentina economic ties.
