Blackstone Minerals strengthens cash position with A$4.25 million R&D refund

Blackstone Minerals Limited (ASX: $BSX) has received A$4.25 million from the Australian Research and Development Tax Incentive Scheme for the 2023 financial year. The company also received $2 million in cash from the sale of its shareholding in NiCo Resources Ltd (ASX: $NC1), further strengthening its cash position.

Managing Director's Comment on Cash Position and Future Plans

Blackstone's Managing Director, Scott Williamson, stated that 'the additional funding firms up our cash position and allows Blackstone to focus on advancing the joint venture partner search whilst finalising the studies and permitting activities at the Ta Khoa Project in Vietnam.'

Summary of Blackstone Minerals' R&D Refund and Cash Position

Blackstone Minerals (ASX: $BSX) has received a A$4.25 million R&D refund, further strengthening its cash position with an additional $2 million from the sale of its shareholding in NiCo Resources Ltd. Managing Director Scott Williamson highlighted that the strengthened cash position will enable the company to focus on advancing the joint venture partner search and finalizing studies and permitting activities at the Ta Khoa Project in Vietnam. This announcement reflects Blackstone's commitment to advancing its projects and seeking strategic partnerships for future growth.