Maximus Resources Ltd (ASX:MXR) has been granted an allocation of up to $1.125 million in exploration tax credits under the Federal Government’s Junior Minerals Exploration Incentive (JMEI) for the 2023/2024 income year, which may be distributed to eligible shareholders.
The JMEI scheme encourages greenfield mineral exploration companies to generate a tax incentive by giving up a portion of their tax losses from eligible greenfield mineral exploration expenditure for distribution to eligible shareholders.
“Maximus would like to acknowledge the support of the Commonwealth of Australia for their provision of the JMEI and the Association of Mining and Exploration Companies (AMEC) dedicated advocacy in promoting this initiative,” a company statement said.
About the company
Maximus Resources is focused on the exploration and development of high-quality gold and base metal projects.
The company holds a diversified portfolio of exploration projects in Western Australia, with 169,450 ounces of gold across its granted mining tenements.
It aims to unlock the value of its projects to deliver long-term benefits to stakeholders while committing to sustainable mining practices and community engagement.