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VSA CAPITAL MARKET MOVERS - Lake Resources

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VSA Morning Miner, 19/07/19

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Tectonic Gold (LON:TTAU)

Tectonic Gold (LON:TTAU) has announced that it is preparing a submission for the Australian Federal Government R&D Tax Incentive Scheme and that it has been approved to participate for the 2018/2019 tax year. Given TTAU’s use of innovative and advanced new technology particularly in relation to deep penetrating geophysical techniques as well as working closely with universities to redefine the regional geological model the company has benefited significantly from the scheme in the past which provides a 43.5% cash rebate on all qualifying technical expenditure. Since inception Signature Gold, now TTAU, has reclaimed A$2.5m.

Although the quantum of the claim is being prepared for submission and the outcome is not yet known the company has indicated that it intends to utilise any funding received to advance the Mt Cassidy project with diamond drilling beyond the 15 historical holes that have been drilled. It is thought that a shallow porphyry target is present given structural alterations and geochemistry supportive of IRGS structures.

Funding support which is non-dilutive is of particular benefit to exploration companies and given the successful claims in the past we anticipate that TTAU will continue to benefit.
We reiterate our Speculative Buy recommendation.

 

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