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Impact Receives $354,000 from Research and Development Rebate

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has received a rebate of $354,000 after costs from the Research and Development Tax Incentive scheme for the financial year ending June 2023.

These funds add to the $3.725 million raised from a recent placement and exercise of options (ASX Releases May 17th and June 5th 2024). The funds further bolster the company’s financial position, ensuring that Impact is fully funded to complete the Pre-Feasibility Study on the Lake Hope High Purity Alumina Project as well as continuing exploration of its other projects.

Impact’s Managing Director, Dr Mike Jones, said, “The unique mineralogy and patented and proprietary processing techniques for the Lake Hope High Purity Alumina project have allowed us to claim back a significant proportion of our expenditures on the Lake Hope Project through the R and D Tax Incentive programme. Although this rebate covers all of our projects, we had only had the Lake Hope project for three months of the 2023 financial year. We anticipate being able to claim an increasing amount of our expenditures on Lake Hope as we continue to develop this exciting project”.

The company would like to thank Ernst and Young and Kate Griffiths and Robin Parsons in particular for their help preparing the R and D applications over the past 8 years.

Click here for the full ASX Release

This article includes content from Impact 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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