I think there is a separate tax credit. The province, like many other provinces (Quebec for instance) has a tax credit that refunds cash for exploration.

It works out to 20% of exploration costs but I don't know the details so it is possible that some exploration money is allowable expenses and others aren't. They subtract any taxpayer reimbursements like subsidies or loans.

It only goes back for three years though so I don't really know how much we are claiming. The early exploration projects pass along the tax credits as flow-through shares so that the individual investor can claim the tax refund. It's better for us if they don't do that though and I don't think Copper Fox has issued flow-through shares in many years.