Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) has secured an allocation of up to A$1.05 million in tax credits through the Federal Government's Junior Minerals Exploration Incentive (JMEI) scheme for the 2024-25 financial year.
The JMEI scheme encourages investment in greenfield mineral exploration by allowing exploration companies to distribute a portion of their tax losses to eligible shareholders – defined as Australian residents who acquire newly issued Maximus shares between July 1, 2024, and June 30, 2025.
Maximus recently completed a $3.2 million entitlement offer in May 2024 and is preparing to distribute $1.125 million in JMEI exploration tax credits for the 2023-24 financial year.
The JMEI credits are distributed on a pro-rata basis to all eligible shareholders, who will receive refundable tax offsets or franking credits, depending on their investor status.
This initiative supports individual shareholders, trusts, superannuation funds and corporate investors alike.
About Maximus Resources
Maximus Resources is focused on the exploration and development of gold, lithium and nickel projects.
The company holds a diversified portfolio of exploration projects in the world-class Kambalda region of Western Australia, with 335,000 ounces of gold resources across its granted mining tenements.
Maximus is actively growing these resources while also progressing toward gold production.
With a commitment to sustainable mining practices and community engagement, Maximus Resources aims to unlock the value of its projects and deliver long-term benefits to its stakeholders.