Canada’s Critical Mineral Landscape and Financial Trends

Kendra Johnston, Managing Director

DISCLAIMER
This information is current to April 30, 2024 unless otherwise indicated. The
information contained herein is of a general nature and is not intended to
address the circumstances of any particular individual or entity. Although we
endeavor to provide accurate and timely information, there can be no
guarantee that such information is accurate as of the date it is received or that
it will continue to be accurate in the future. No one should act on such
information without appropriate professional advice after a thorough
examination of the particular situation.
PEARTREE CANADA: WHO WE ARE

• Canada leading provider of Charity Flow-Through

• Founded in 2007
• Unique platform serving the philanthropic and resource sectors
• $500 Million Flow-Through share financings annually
• 50-60% of the money raised for exploration, nationally
• Completed over 600 transactions
• Over 5,000 charities supported across Canada
• 3-10% after-tax cost of giving
Critical Minerals
In
Canada
 Canada’s Critical Minerals
Canada is a leading global
producer of:

Sources: S&P Global Market

Source:
Intelligence
GovernmentOct 2023
of Canada
Critical Mineral
Projects Across
The Country
Cu
Ni
Li Ni

Li
Ur
Li
Ni, Cr
K

Ni

Source: Government of Canada

 Critical Mineral Exploration Projects by Jurisdiction
800

600
Total Projects
BC: 1,185
400 ON: 1,355
QC: 1,341
200 SK: 529
Other: 1,246
0
British Columbia Ontario Quebec Saskatchewan Other
Prospect Exploration Advanced Exploration

Source: Mining Intelligence

 Where is the
Money in Canada
Canadian Exploration Spending by Mineral

Key Indicators 2023/2022

Sources: Government of Canada

 Exploration Dollars Raised by Critical Mineral

400 60
350
50
300
Annual Totals
40
Million

250 • 2022: $630M,

200 30 128 projects
150
20 • 2023: $711M,
100 126 projects
10
50
- -
Cu Ni Li REE Ur Strat.
2022 2023

Source: Mining Intelligence

Canadian Exploration Spending by Province/Territory

Sources: Government of Canada

 TSX.V Dollars Raised & Number of Financings by Month
400 140
350 Currently 908
120
300 mining companies
250 listed on the TSX.V
Million

100
200 487 exploring in
150 80 Canada
100
60 178 exploring in
50
the US
- 40

Source: TMX
 CANADIAN EQUITY FINANCING FOR EXPLORATION IN CANADA
Over 80% of financings for mineral exploration on Canada exchanges are via FTS
2000 90%
83% 83%
1800 78% 78%
74% 80%
321
1600 66% 66% 70%
65% 62%
62% 60%
1400
60%
1200 553 293
50%
175
1000
40%
$ C Millions

800 409 1558

342 174
274 30%
600
207 1035 970
400 126 187 911 20%
560 624 624
200 396 498 10%
354 363
0 0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Flow-Through Shares Non Flow-Through Shares Flow-Through Proportion

Sources: TMX Group and PDAC analysis

WHO’S BUYING FLOW-THROUGH IN 2021?

• According to Stats Canada $1.2B was raised

via FT in 2021

12% • 88% ($1.06B) of FT funding was provided

Total FT Purchased by just 14,400 taxpayers earning > $250k.
• Average purchase, $74k
88%
$1.2B
• From the stats, these people tend to be
$1.06B
males over the age of 70.

Sources: Stats Canada

Where are Flow-through Dollars Purchased?

Other
$140 M BC
12% $243 M
20%
• In 2021, $1.2 B was raised by FT dollars,
the vast majority was purchased in ON,
QC QC and BC.
$353 M
29%
• Although this is a good proxy of where
ON dollars are spent, it is not a directly link.
$467 M
39%

Sources: Stats Canada

 WHO’S BUYING FLOW-THROUGH?

10% 11% 10%

Ontario BC
Quebec
$467M $243M
$353M
90% 90%
89%

• 90% of Flow-Through funding was • 89% of Flow-Though funding was • 90% of Flow-Though funding was
provided by 5,360 taxpayers provided by 3,230 taxpayers provided by 2,340 taxpayers
earning > $250k earning > $250k earning > $250k

Sources: Stats Canada

More than 500
projects have
Indigenous
agreements

Source: Government of Canada

 Indigenous Mining Companies on the Rise

More than 16,500

Indigenous people are
employed in mining

Indigenous people
represent 12% of people
employed in mining

21% of exploration dollars

spent in BC are with
Indigenous owned
companies We have moved past consent, into full participation

Source: Government of Canada

CONTACT US

Kendra Johnston, PGeo, MBA

Managing Director, PearTree Canada

416.322.2295
kendra.johnston@peartreecanada
Vancouver

peartreecanada.com