Argent Minerals (ASX: ARD) is looking to claim around $1 million under the Federal Government’s Research and Development Tax Incentive Scheme, with the company's 2011/2012 financial year tax return lodged today - along with the claim.
The claim relates to a range of technical development activities associated with the intention of bringing the Kempfield Silver Project into production, which is located in New South Wales.
Importantly for Kempfield, it is classified as a State Significant Development by the state government, with Argent committed to bringing the project into production via a stage-by-stage process, and continues to make progress toward Stage 1 production.
The plan is to mine around 8.8 million tonnes over five years to produce 9.9 million ounces of silver at a C1 cost of $16.6 per silver bullion ounce in Stage 1 of the project.
Argent is expecting Stage 1 of the project to provide up to 150 jobs during the construction phase, and up to 80 full time jobs during the operations period.
Volcanic Hosted Massive Sulphide
Adding some additional interest to Kempfield is that Argent is accelerating the follow-up exploration program Volcanic Hosted Massive Sulphide geophysical anomalies identified immediately adjacent to the project and within the proposed project area.
This has the potential to represent a high temperature VMS feeder zone.
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