Argent Minerals Limited (ASX:ARD) is pleased to report that $269,000 has been received in relation to the Company's research and development (R&D) claim for the financial year ending 30 June 2015.Highlights:
- $269,000 cash payment received from the Federal Government R&D Tax Incentive Scheme
- Funds to be strategically applied to Argent's Kempfield and West Wyalong projects
The claim relates to a range of technical development activities associated with advancing the Kempfield Polymetallic Project.
Argent Minerals Managing Director David Busch said, "We appreciate the support of the Federal Government through the R&D Tax Incentive Scheme.
These funds will be applied strategically to support the Company's exploration programmes at the Kempfield and West Wyalong projects".
Together with the $771,921 raised through the oversubscribed Share Purchase Plan shortfall placement in October 2015, over $1 million cash has been added to Argent's reserves, before costs.
Argent has commenced a 7 hole 3,200 metre diamond drilling program at Kempfield, and is preparing to conduct additional geophysics survey work at the West Wyalong copper-gold target.
David Busch Managing Director M: +61 415 613 800 E: david.busch@argentminerals.com.au Argent Minerals Limited T: +61 2 9262 2211 E: admin@argentminerals.com.au WWW: www.argentminerals.com.au
