Golden Cross Resources' tax rebate to fund drilling in New S...| MENAFN.COM

Friday, 21 January 2022 07:53 GMT

Golden Cross Resources' tax rebate to fund drilling in New South Wales


(MENAFN- ProactiveInvestors)

Golden Cross Resources (ASX:GCR) is poised to receive a tax rebate of at least $450000 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.

 

Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.