Just to let fellow MYG holders out there know, the ATO introduced for the 2012 tax year a new R&D tax incentive for Australian company that have R&D expenditure in Australia.
Not many might know about it, but in my field, i have come accross it.
It is a very generous incentive for mining juniors to help encourage them to spend money on exploration.
Companies with under $20million in turnover are able to get a refundable tax offset of up to 45% of their eligible R&D expenditure.
This could be a nice little funder for a possible drill campaign in the new year.
In their annual finacial report, it appears MYG spent about $9.2million on direct exploration expenses during the 2012 financial.
Not i dont know the exact break down all these costs and if all are eligible, but i would assume most of this would be eligible under the new ATO guideline.
So basically, Mutiny could be looking at a very nice windfall of cash of around possibly 3-4million from the ATO in the near future.
Would be nice to see the ATO funding our next drill campaign. :)
MYG Price at posting:
9.8¢ Sentiment: LT Buy Disclosure: Held
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