WPG Resources Ltd (ASX:WPG) is pleased to announce that it has received $279,000 from the Federal Government’s Research and Development Tax Concession Scheme.
The Scheme, administered jointly by AusIndustry and the Australian Taxation Office, allows the Company to claim a tax credit and receive a cash refund for up to 45 cents of each dollar spent on eligible research and development.
The refundable tax offset relates to costs incurred by WPG during the 2013-2014 financial year on the Muckanippie tenement located on the north-western side of the large Malbooma Anorthosite Complex in the Gawler Craton in South Australia.
The Muckanippie EL 5154 covers part of the north-western side of the large Malbooma Anorthosite Complex, a large circular intrusion that covers an area of approximately 800 square kilometres and comprises anorthosite, gabbro, diorite syenite, granodiorite and granite. Elsewhere in the world similar anorthosite complexes are host to significant nickel and copper massive sulphide deposits.
For further information please download PDF attached: