Walkabout Resources (ASX:WKT) has received a research and development tax incentive cash rebate from the Australian Taxation Office of $233,716 for FY2016.
The incentive scheme enables companies that are undertaking research and development projects to offset their costs by providing a cash rebate.
The objective of this project is to develop an extraction methodology to be utilised in the unique mineralisation of the Walkabout deposits.
Large flake commands a substantial premium in the market as it is used in higher value products, but is much rarer than smaller flakes.
The primary challenge is that in the process of extracting and beneficiation, the flake’s size and consistency can be compromised.
Walkabout identified the opportunity to delineate a high-grade deposit with potential positive project economics should the graphite be economically extracted while preserving the large graphite flakes during the process.
The research and development project is ongoing.