Investigator receives A$0.66million R&D Tax Refund
Adelaide, Nov 12, 2018 AEST (ABN Newswire) - Investigator Resources Limited (ASX:IVR) is pleased to announce it has received A$657,958 as a tax concession for the 2017/18 year under the Federal Government's Research and Development ("R&D") Tax Incentive program.
The R&D Tax Incentive program helps businesses offset a portion of costs relating to certain R&D activities. The incentive is jointly administered by AusIndustry (on behalf of Innovation Australia) and the Australian Taxation Office.
The refund recognises the Company's innovative approach to its on-going research projects that are testing alternative hypotheses to the accepted geological norm. Our new ideas are advancing the understanding of South Australia's ore geology to rejuvenate the exploration space and choice of target commodities and styles in the State.
Investigator acknowledges the value of government assistance that initiatives such as the R&D Tax Incentive program provides, supporting innovative thinking and early stage work.
The received A$657,958 is additional to the previously reported cash balance of A$1.95million as at the quarter ended 30 September 2018.
About Investigator Resources Ltd
The Company's priority is progressing the development pathway for the Paris silver project with the preparation of a pre-feasibility study. The Paris Mineral Resource Estimate is 9.3Mt @ 139g/t silver and 0.6% lead, comprising 42Moz of contained silver and 55kt of contained lead, at a 50g/t silver cut-off. The resource has been categorised with an Indicated Resource estimate of 4.3Mt @ 163g/t silver and 0.6% lead for 23Moz contained silver and 26kt contained lead, and an Inferred Resource: 5.0Mt @ 119g/t silver and 0.6% lead for 19Moz contained silver and 29kt contained lead.
The Company has applied an innovative strategy that has developed multiple ideas and targets giving Investigator first-mover status. These include: the Paris silver discovery; recognition of other epithermal fields and the associated potential for porphyry copper-gold of Olympic Dam age; extending the ideas developed at Paris-Nankivel and using breakthrough government Magneto-Telluric surveying to rejuvenate targeting with the Maslins IOCG target as the next priority drill target.