Access to Capital

Exploration is the riskiest stage of the mineral development cycle. Out of every 10,000 identified mineral prospects, only about 10% will lead to a drilling program (1 in 10), and just 0.01% (1 in 10,000) will lead to a new mine.

As a result, attracting capital to help finance exploration projects can be challenging, whether the exploration agent is a prospector, mineral exploration company or the exploration division of a mining company. Once a discovery has been made, additional resources are required to help develop a deposit and move into production.

Mineral exploration begins and ends with financing. PDAC undertakes a wide range of activities to help companies finance mineral exploration in Canada and abroad.


State of Mineral Finance 2019: At the Crossroads

Exploration spending jumped more than 30 per cent in Canada and almost 20 per cent globally in 2018, according to this new study. However, it also shows that financing had weakened overall, stalling the investment rebound that had previously emerged.

This new report provides a retrospective of recent financing dynamics for the mineral exploration and mining industry through the end of 2018 with analysis based on a broad set of financial metrics and industry-related data.

Read it now


Mining expenditure review table

Clarification regarding the eligibility of various expenses as CEE.  

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Parliament of Canada

Fiscal Incentives

Advocacy to provincial, territorial and federal governments to adopt new, or enhance existing, fiscal and tax incentives that help the flow of capital into the industry. Read More


Capital Market Reforms

Advocacy to securities regulators and stock exchanges to help reduce costs of capital-raising and expand the pools that can be tapped through Canadian capital markets.
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Convention Program

Organization of the world’s largest annual international mineral industry trade show and convention, to help bring together investors and the mineral exploration industry.
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Access to Capital

Ran Maoz
Analyst, Tax Policy & Capital Markets