Lulin said if the company makes profit, it will pay taxes and royalties, however a mineral value-based taxation could be detrimental to smaller mines who would be forced to pay taxes despite losing money.

FORBES: Parti Quebecois' Suggestion To Raise Quebec Mining Royalties Rate Could Be Damaging

Jean-Marc Lulin, president and chief executive officer of Azimut Exploration Inc. (TSXV: AZM) and also president of the mining association advised caution when looking at the political side of the mining industry in Quebec.

FORBES: Parti Quebecois' Suggestion To Raise Quebec Mining Royalties Rate Could Be Damaging