$173,000 Research and Development Claim
Sydney, Oct 28, 2014 AEST (ABN Newswire) - Argent Minerals Limited (
ASX:ARD) (Argent, Argent Minerals or the Company) is pleased to announce that it has lodged the relevant tax return to claim a refundable offset under the Federal Government's Research and Development (R&D) Tax Incentive Scheme. The Scheme is administrated jointly by AusIndustry and the Australian Tax Office.
The Company's 2013/2014 financial year tax return, which includes the R&D expenditure eligible for the refundable offset under the R&D Tax Incentive Scheme, was lodged today with the ATO. The claim is for approximately $173,000.
The claim relates to a range of technical development activities associated with the intention of advancing the Kempfield Polymetallic Project toward production.
Eligibility for the refundable offset is subject to the Company meeting all relevant taxation criteria for obtaining a refundable tax offset, and the claim may be reviewed by either the ATO or AusIndustry.
About Argent Minerals Limited
Argent Minerals Limited (
ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
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