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Blackstone Receives R&D Refund and Firms Up Cash Position

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce that it has received A$4.25 million from the Australian Research and Development Tax Incentive Scheme for the 2023 financial year.

Following the receipt of the $4.25m, the $2.8m advance received in July 2023 (see ASX announcement 18 July 2023) was fully repaid to Asymmetric Innovation Finance.

In addition to the R&D refund, the company recently received $2m in cash from the sale of its shareholding in NiCo Resources Ltd (ASX: NC1), which together with the net R&D refund adding a total of $3.45 million to our cash position.

Blackstone’s Managing Director Scott Williamson commented “the additional funding firms up our cash position and allows Blackstone to focus on advancing the joint venture partner search whilst finalising the studies and permitting activities at the Ta Khoa Project in Vietnam”.

Click here for the full ASX Release

This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


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