Riversgold Ltd (ASX:RGL) has boosted its finances by $521,096 after receiving a research and development tax incentive refund for the 2020/21 financial year.
Wholly-owned subsidiary Riversgold (Australia) Pty Ltd received the Research and Development Tax Incentive refund in acknowledgement of its R&D activities in the 2021 financial year.
The incentive scheme is an Australian Federal Government program under which companies can receive cash refunds for eligible research and development expenditure.
About Riversgold
Riversgold is an ASX-listed exploration company with a lithium-focused strategy in the world-renowned Pilbara and Yilgarn cratons in Western Australia.
In 2022, the company acquired a suite of four lithium-prospective exploration tenement applications covering 164 square kilometres in the Pilbara region.
Key Tambourah Project
The key Tambourah Project is underexplored and has the potential to host a major lithium-caesium-tantalum (LCT) system much like the nearby Pilgangoora and Wodgina deposits.
Further, the company has acquired a tenement package of 301.2 square kilometres prospective for lithium in the Southern Cross-Marvel Loch region of Western Australia including a tenement immediately bordering the Mt Holland Lithium Project that hosts 189 million tonnes at 1.5% Li2O.
The Riversgold portfolio also offers exposure to gold and nickel through its large landholding at the Kurnalpi Project in the Yilgarn.