logo-loader

Peak Resources bags $1.39m R&D rebate from expenditure on Ngualla rare earth project

Published: 06:17 15 Oct 2013 BST

no_picture_pai

Peak Resources (ASX: PEK; OTCQX: PKRLY) has increased its cash balance by $1.39 million from a research and development (R&D) rebate for the 2012 and 2013 financial years.

The R&D rebate relates to expenditure on development of the metallurgical processing route for the Ngualla rare earth project, which is located in Tanzania.

Ngualla is one of the very few rare earth development projects to successfully produce high purity separated products from its mineralisation and this is an important step in de-risking the project.

Peak recently outlined that it remains in advanced discussions with a number of potential funding partners for the development of the project.


R&D scheme

Under the Federal Government’s Research and Development Tax Incentive Scheme, eligible companies which undertake R&D activities are entitled to a cash rebate of 45% of R&D expenditure incurred in Australia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Ariana Resources updates resource and reserve; realises long-term strategy

Joining Jonathan Jackson in the Proactive studio is Ariana Resources PLC (AIM:AAU) managing director Kerim Sener, who sits down to discuss the latest resource and reserve update for the Zenit Mining Operations in Western Türkiye. The update encompasses the Kiziltepe and Tavsan sectors, operated...

5 hours, 32 minutes ago