Investigator Resources Picks Up Tidy R&D Refund
THE BOURSE WHISPERER: Investigator Resources (ASX: IVR) announced the receipt of a R&D Tax Refund to the tune of $0.8 million.
Investigator Resources has received $796,032 as a tax concession for the 2015/16 year under the Federal Government’s Research and Development (R&D) Tax Incentive program.
The R&D Tax Incentive program helps businesses offset a portion of costs relating to certain R&D activities.
Investigator explained its 2011 Paris silver deposit discovery has produced a flow-on of new data, ideas and research opportunities sating the 2015/16 refund recognises the company’s on-going research projects that are testing alternative hypotheses to the accepted, but mature deposit models that offer depleting discovery potential.
“Step changes in the understanding of South Australia’s ore geology are sought to rejuvenate the exploration space and choice of target commodities and styles in the State,” Investigator Resources said in its ASX announcement.
“The received $796,032 is additional to the previously reported cash balance of $3.14 million as at the quarter ended 31 March 2017.
“The additional funds will be re-invested to further advance the development of the Paris silver project and a new generation of porphyry-related and IOCG copper-gold-silver targets in the southern Gawler Craton.”