Three-Quarters of Eligible Exploration Equity. Think About That.
If you want to understand what Flow-Through Shares can do to an ecosystem, look at Canadian mining.
At the 2026 PDAC convention, mining investor Douglas Silver presented a remarkable number.
According to his analysis, Flow-Through investors supply roughly three-quarters of the equity raised annually by eligible Canadian exploration companies. He described the mechanism as “absolutely critical” to Canada’s public exploration ecosystem.
Three-quarters.
This isn’t some obscure tax provision sitting unused in the Income Tax Act.
It is part of the financing infrastructure supporting one of the world’s most important mining capital markets.
And look at the companies it helps.
Early-stage explorers.
No revenue.
High uncertainty.
Long timelines.
Significant technical risk.
Sound familiar?
The parallels with technology aren’t perfect. Nobody should pretend drilling for copper is the same thing as developing quantum technology or a biotech platform.
But the financing problem is strikingly similar.
High-risk ventures need capital before success is obvious.
Traditional investors may hesitate.
Flow-Through Shares improve the economics enough to encourage private money to step forward.
Silver’s evidence matters for FTS-Tech because it demonstrates what can happen when Canada deliberately builds a private-capital ecosystem around strategically important, high-risk activity.
We’ve done it before.
The technology question is:
Why aren’t we doing it again?
Read the Canadian Mining Journal article
Read the FTS-Tech proposal and Add Your Voice
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