Argent Minerals (ASX:ARD) has received a $269,000 cash boost for a research and development (R&D) claim for the financial year ending 30 June 2015.
The claim relates to a range of technical development activities associated with advancing the Kempfield Polymetallic Project, located in New South Wales.
David Busch, managing director, commented: “We appreciate the support of the Federal Government through the R&D Tax Incentive Scheme.
"These funds will be applied strategically to support the company’s exploration programs at the Kempfield and West Wyalong projects."
Together with the $771,921 raised through the oversubscribed Share Purchase Plan shortfall placement in October 2015, over $1 million cash has been added to Argent’s reserves, before costs.
Argent has commenced a 7 hole, 3200 metre diamond drilling program at Kempfield, and is preparing to conduct additional geophysics survey work at the West Wyalong copper-gold target.
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