Surefire Resources NL has received a refundable tax offset of A$439,000 under the Australian Government’s Research and Development (R&D) Tax Incentive scheme for eligible activities undertaken during the 2023/2024 financial year.
The company’s R&D initiatives focus on its wholly owned Victory Bore Vanadium Project, advancements in processing technology, and High Purity Alumina test work.
Under the scheme, companies with an annual turnover of less than A$20 million can claim a cash refund of 43.5 cents per dollar spent on eligible R&D activities. The rebate provides direct financial support, enabling Surefire Resources to further its technological innovation and enhance project development.
The additional funding strengthens the company’s financial position as it advances its R&D initiatives aimed at improving productivity and competitiveness within Australia’s resource sector.
Surefire Resources secures offtake agreement with HMS Bergbau
The rebate comes just days after the company signed a Heads of Agreement (HOA) with Germany’s HMS Bergbau AG for the offtake of all critical mineral products from its wholly owned Victory Bore Critical Minerals Project. The agreement covers materials to be produced from the proposed mine and beneficiation plant, marking a significant step toward the project's commercialisation.
HMS Bergbau is a global specialist in raw material marketing and logistics, with operations spanning Europe, Africa, Asia, and the Middle East. Its established industry presence and strong ties with major funding groups align with Surefire’s development strategy for Victory Bore.
The agreement builds on an Expression of Interest received from HMS in 2024, previously announced on 20 November. It also supports Surefire’s ongoing discussions with Saudi Arabian and European stakeholders regarding project funding. The HOA provides a framework for both parties to finalise key commercial terms, including product volumes, delivery schedules, and pricing structures, reinforcing the project’s pathway to development and commercial viability.