Receives AU$496,000 from Federal Government Research and Development Incentive Scheme
Brisbane, Feb 25, 2014 AEST (ABN Newswire) - Platina Resources Limited (
ASX:PGM) (PTNUF:OTCMKTS) is pleased to announce receipt of a $496,000 cash refund under the Federal Government's Research & Development Incentive Scheme.
The tax refund relates to costs of Research & Development conducted by the Company during the 2013 financial year, essentially on the Owendale Platinum and Scandium Project.
These funds, combined with the proceeds from the current Non-Renounceable Rights Issue, will be used to:
- Complete metallurgical testwork followed by feasibility studies at the Company's Owendale platinum and scandium project in NSW;
- Fund other exploration activities; and
- Contribute to ongoing working capital.
The Non-Renounceable Rights Issue, announced on 10 February 2014, opened on Friday 21 February and will close on Friday 14 March 2014.
To view the announcement, please visit:
http://media.abnnewswire.net/media/en/docs/76678-ASX-PGM-784420.pdf
About Platina Resources Limited
Platina Resources Limited (ASX:PGM) (OTCMKTS:PTNUF) is an Australian-based company focused on returning shareholder value by advancing early-stage metals projects through exploration, feasibility, permitting and into development.
The Company has interests in the following projects:
- Platina Scandium Project (100% interest) - located in central New South Wales, the project is one of the largest and highest-grade scandium deposits in the world, which has the potential to become Australia's first scandium producer with cobalt and nickel credits. A Definitive Feasibility Study was completed in late 2018 demonstrating the technical and economic viability of constructing the project. The Company is now focused on completing the permitting and securing offtake and financing.
- Skaergaard (100% interest) - One of the world's largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia, located in Greenland;
- Munni Munni (30% interest) - Situated in the Pilbara region of Western Australia, the project is one of Australia's most significant Platinum Group Metal occurrences. Munni Munni also has potential for conglomerate hosted gold and is a Joint Venture with Artemis Resources Limited; and
- Blue Moon (to earn a 70% interest) - Located in California, U.S.A, the project is subject to a Nl 43-101 Mineral Resource estimate. The resource is open at depth and along strike and has favourable metallurgy.
For more information please see: https://www.platinaresources.com.au
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