Impact Minerals Limited (ASX: IPT) has received a rebate of $354,000 from the Research and Development Tax Incentive scheme for the financial year ending June 2023. This rebate, combined with the $3.725 million raised from a recent placement and exercise of options, further strengthens Impact's financial position and ensures full funding for the completion of the Pre-Feasibility Study on the Lake Hope High Purity Alumina Project, as well as the continued exploration of other projects.
Dr. Mike Jones, Impact’s Managing Director, expressed his enthusiasm for the unique mineralogy and patented processing techniques of the Lake Hope High Purity Alumina project, which have enabled the company to claim back a substantial proportion of its expenditures through the R&D Tax Incentive program. Despite having the Lake Hope project for only three months of the 2023 financial year, Impact anticipates claiming an increasing number of expenditures on Lake Hope as the project continues to develop.
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