St George Mining (ASX:SGQ) held close to $1.6 million in cash at the end of June 2015, and this looks likely to swell following the company lodging an R&D claim with the Australian Taxation Office.
St George said its R&D expenditure eligible for the claim supports a cash payment to the company of circa $1.3 million.
The claim will take 4 to 6 weeks to process.
The potential new funds will further add to the cash pot for St George to explore its highly prospective East Laverton Nickel Sulphide Project, where the drill rig has been spinning over recent weeks.
Drilling is targeting massive nickel sulphides, with initial assays expected this week.
In total the program will test over 2500 metres using diamond drilling, and may be extended based on results.
East Laverton has the potential for VMS-style base metal mineralisation.
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