Ann: St George Completes Oversubscribed Capital Raising, page-2

This is a good read from the West online.

$100m tax break for junior exploration investors

Nick Evans, Canberra | The West Australian
Tuesday, 20 March 2018 7:30AM

The Federal Government says the changes will help the sector raise additional cash.
Investors taking a punt on capital raisings launched by junior explorers will again be able to access tax incentives after legislation enabling the latest scheme passed the Senate yesterday.
The Junior Minerals Exploration Incentivestill allows explorers to pass on tax losses to investors to be distributed as a tax credit to shareholders.
But it targets quicker calculation of the credits available to investors and prioritises those who have made new equity investments in the company.
The Federal Government says the changes will help the sector raise additional cash.
The JMEI replaces the failed Exploration Development Incentive scheme, which was scrapped in last year’s Federal Budget after a low take-up rate during its three-year trial.
It was also criticised for delivering little to retail investors.
The decision was heavily criticised by mining groups, who pushed hard for the reintroduction of a rejigged version.
Like the earlier version, it applies only to greenfields exploration campaigns, but has a enlarged $100 million tax-credit pool over its four-year period of operation.
Association of Mining and Exploration Companies chief executive Warren Pearce said the revised scheme offered a substantial boost for mining juniors.
“The decline in greenfields exploration over the last decade is a significant concern and one that threatens to undermine the future growth of the mining industry in Australia,” Mr Pearce said.
The Bill will return to the House of Representatives for approval of minor amendments.