Golden Mile Resources receives research and development tax incentive

Golden Mile Resources Limited (ASX: $G88) has received $358,825 from the Australian Taxation Office for its 2023 AusIndustry Research and Development Tax Incentive. The incentive is specifically for the 'Development of Novel Laterite Nickel/Cobalt Process Technology' at its 100% owned Quicksilver Nickel-Cobalt Project located near the town of Lake Grace, Western Australia.

Executive Commentary on Research and Development Tax Incentive

Golden Mile's Managing Director, Mr Damon Dormer, expressed his satisfaction with the tax incentive refund, emphasizing its potential to advance the development of the Quicksilver project. He highlighted the completion of major work streams of the Quicksilver Stage 3 metallurgical testwork programme, with only minor works remaining. Mr Dormer also mentioned that the flowsheet, based on the metallurgical testwork programme, is nearing completion, enabling the determination of high-level processing capital and operating costs. He further emphasized the project's focus on low-cost, high-value activities, leveraging the extensive exploration and testwork undertaken over the last 18 months.

Summary of Research and Development Tax Incentive Announcement

Golden Mile Resources (ASX: $G88) has successfully received a research and development tax incentive of $358,825 for its Quicksilver Nickel-Cobalt Project. The incentive specifically targets the 'Development of Novel Laterite Nickel/Cobalt Process Technology' at the project site. Managing Director, Mr Damon Dormer, welcomed the tax incentive refund, highlighting its potential to progress the development of the Quicksilver project. The completion of major work streams of the Quicksilver Stage 3 metallurgical testwork programme and the nearing completion of the flowsheet are indicative of significant advancements. The company's focus on low-cost, high-value activities and leveraging extensive exploration and testwork bodes well for the project's future prospects.