News: Golden Cross Resources’ tax rebate to fund drilling in New South Wales

Golden Cross Resources (ASX:GCR) is poised to receive a tax rebate of at least $450,000 under the Federal Government’s Research and Development Tax Incentive Scheme.

Its claims was approved by AusIndustry and the funds are expected from the Australian Taxation Office in late August or early September.

Proceeds will be used to fund an interim drilling program at the Copper Hill Project in central New South Wales.

This is the first step in its planned Pre-Feasibility Study into a 2-3 million tonnes per annum operation based on the higher grade resources.

The PFS is scheduled for completion by the end of April 2016.