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The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.

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Message: Special Canadian Capital Loss Rules Spur Jr Gold Stk Selling
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Special Canadian Capital Loss Rules Spur Jr Gold Stk Selling

posted on Dec 04, 2008 06:33AM
I am not a tax expert, but this is what I have uncovered regarding capital tax loss rules in Canada. You should do your own due diligence in verifying my conclusions. Our rules in the US are not the same as in Canada with regard to captial losses.
How would you like to take a tax loss this year and use it to offset capital gains that you reported on your tax return for prior years. Even better, how would you like to chose the year to offset prior capital gains when your tax bracket was higher. Well that is exactly what Canadians are doing right now. Many Canadians had capital gains reported in prior year and this year they are dumping their investments to generate losses and get back taxes they paid on prior year capital gains. By the way, anyone selling shares for a loss now will not be able to re-purchase their stock for 31 days or the rules above won't apply.
As we draw near the end of the year there will be little tax loss selling to be completed. The supply/demand economics will favor a bottom in junior gold stock - which in my opinion, has already happened.
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