Argonaut Resources NL (ASX:ARE) has received a $946,613 tax rebate thanks to the Australian Government’s AusIndustry R&D Tax Incentive program.
The explorer secured the rebate after submitting an application that covered research and development on salt lake protection techniques.
The research came in handy as Argonaut transported and utilised heavy drilling equipment on the surface of South Australia’s Lake Torrens for its 2021 Murdie drill program.
This rebate, together with a recent $1.8 million rights issue, means that Argonaut is well funded to:
- Continue exploration at the Darson Pegmatite swarm at Higginsville in Western Australia; and
- pursue the reinstatement of the Lumwana West copper-cobalt licence in Zambia.
About the explorer
Argonaut is a mineral exploration and development company with copper and zinc projects in South Australia, Queensland and Zambia.
The company is primarily focused on developing the internationally recognised Torrens and Murdie iron-oxide copper/gold projects in South Australia.
ARE’s other base metal interests include the Nyungu copper/cobalt deposit in Zambia and the Kroombit zinc/copper deposit in Central Queensland.
In addition, Argonaut is targeting zinc silicates at Aroona, also in South Australia.