When you look at a program like flow-through tax credits, for resource sector companies with a long path to commercialization and to generating revenue and a heavy amount of capital expenditures—not dissimilar from that of clean-tech development or deployment—what's been hugely efficient for them is to be able to take those future tax benefits of write-offs against their expenses and bring those to the present day. They would be able to monetize those by selling their shares with that tax benefit to a private investor.
In 2011, over $1.1 billion was raised by the mining sector alone in Canada, with $400 million of what we would call hard dollars. When you do flow-through financing you can't use any of the flow-through funds to pay for commissions or to pay for management salaries—