Maximus to apply R & D tax refund to current drilling on Narndee poly-metallic project in WA
Summary
* Research and Development project approved by AusIndustry
* Funds totalling $209,452 received
Maximus Resources Limited, (ASX: MXR) has this week received confirmation that the Company’s submission to AusIndustry for a Research and Development (R&D) Tax concession, has been accepted.
The R&D program, commenced in 2009, entailed the design and development of an effective mining and production process for Elluvial gold systems at the Sellheim alluvial project in Queensland.
The R&D tax refund for the 2009/10 financial year totalled $199,966.60. The Australian Tax Office also applied $9,485 interest to the outstanding funds, resulting in the total refund of $209,452 being received by Maximus.
The Company will apply these funds to the current drilling program commenced in April on the Narndee poly-metallic tenements in Western Australia.
Add to My Watchlist
What is My Watchlist?