(NewsDirect)
Elixir Energy Ltd(ASX:EXR) MD Neil Young speaks with Proactive after announcing thecompany is set to receive a research and development (R&D) rebateof $400,000 for FY23. The rebate comes after the company received anadvanced finding from the Australian Government’s Department ofIndustry, Science and Resources that activities associated with itsDaydream-2 well will qualify as eligible R&D activities for thepurpose of the R&D tax incentive. The rebate is 48.5% of thequalifying expenditure for the project and is due to be receivedshortly.
“TheR&D rebate for Daydream-2 of around half of the total costs of thewell is a very attractive form of non-dilutive funding for Elixir,”Young said.
“Weare pleased to work with Radium Capital to provide us with a verysimple and effective debt facility to optimally manage our cash-flowsin 2024.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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