Group 6 Metals Limited (ASX: G6M) has secured a Research and Development (R&D) Tax Incentive grant of $14.3 million, following the lodgment of its R&D Tax Incentive Application for FY2023. The refund, encompassing $160,000 in interest, is linked to eligible R&D activities for developing the Dolphin Mine in King Island, Tasmania. The funds will further enhance the company's strategic mineral project for Tungsten concentrate supply.
Group 6 Metals' Managing Director and CEO, Keith McKnight, expressed delight in receiving the full claim, emphasizing the company's commitment to innovation for maximizing the potential of this strategic asset. McKnight highlighted the importance of the R&D Tax Incentive scheme in unlocking resources for innovation and gaining a competitive edge. The company plans to continue its innovation focus to produce higher-value tungsten products through downstream processing at the Dolphin Mine, positioning itself for future opportunities.
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