(MENAFN- ABN Newswire)
Investigator Resources Limited (ASX:IVR) is pleased to announce it has received A$858,006 as a tax concession for the 2016/17 year under the Federal Government's Research and Development ("R&D") Tax Incentive program.
A tenet of the Investigator exploration strategy is to develop innovative geoscientific technology in order to reduce risk and promote efficiency in its' ongoing conceptual and greenfields exploration programmes. The rebate is an acknowledgement of this process. The assistance of government is important for small companies in Australia in the present market environment to encourage an innovative approach to on-going research projects that test alternative hypotheses to the accepted geological norm. Without this assistance and in the general environment of withdrawal from exploration by midcap and major companies, research expenditure will wither in this vital sector and impact the future of the Australian mining industry in the long term. The assistance of government is gratefully acknowledged by the Company.
The A$858,006 received is additional to the previously reported cash balance of A$3.12million as at the quarter ended 31 March 2018.
The additional funds will be re-invested to advance the development of the Paris Silver Project and other Company targets in the southern Gawler Craton, South Australia.
Mr John AndersonManaging DirectorInvestigator Resources LimitedE: : +61-8-7325-2222Mr Peter TaylorInvestor RelationsNWR CommunicationsE: : +61-41-203-6231
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