Thank you for your question, Mr. McLeod. It's a good one, because I think if the METC were to expire, there would be the two parts.
Of course, you have the super flow-through credit, as you talked about. That's the early stage. That's the discovery stage. Pick your name—Goldcorp, Agnico, Barrick, Hudbay—these companies are not doing the early-stage greenfield exploration activity. They're spending their money enhancing their operations, building out the next generation of mines. They are not discoverers.
It is a real feeder system. That 1,000-plus bucket I showed at the beginning of the Lassonde curve are the ones that are going to find the next generation of mines. Without the super flow-through, our capital—and it is a global capital pool—will go elsewhere. It will go to South America, it will go to Asia, it will go to Africa, and we'll be disadvantaged. There is a reason that a half of the world's mining companies list in Canada, and the flow-through is an important part of that. That contributed to the creation of a centre of excellence, not just at those mine sites, actually, but also on Bay Street, and Howe Street, and in Calgary.
If you look at the executives, the bankers, the lawyers, the engineering firms, all of that, you see a lot of the money that flows across this country, urban and rural, starts with mining. We need that incubator, that risk capital to come in to help keep us going for generations to come.