Stellar Resources (ASX:SRZ) has received a tax refund of $241,824.36 under the Australian Government’s Research and Development Tax Incentive Scheme.
This adds to the company’s cash balance of $3 million as at 31st December 2014.
The funds will be immediately applied to advancing the Heemskirk tin project with Definitive Feasibility Study drilling and ongoing optimisation of the metallurgy circuit in 2015.
Heemskirk has a Resource of 6.28 million tonnes at 1.14% tin.
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News: Stellar Resources banks research and development tax refund
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