Overview of Heavy Rare Earths Limited's R&D Tax Incentive Rebate

Heavy Rare Earths Limited (ASX: $HRE) has announced the receipt of its Research and Development (R&D) Tax Incentive Rebate for the 2023 financial year, totaling $312,168. The rebate covers eligible R&D activities undertaken by HRE on the Cowalinya rare earth project, as previously disclosed in the Company's December 2023 quarterly activities report.

Executive Commentary on R&D Tax Incentive Rebate

We are pleased to have received the R&D Tax Incentive Rebate for our 2023 financial year activities on the Cowalinya rare earth project. This rebate reflects our commitment to advancing our exploration and development efforts in the rare earth sector. We will continue to leverage such incentives to support our ongoing R&D initiatives and look forward to lodging further claims for eligible expenditure in the coming financial years.

Summary of R&D Tax Incentive Rebate and Outlook

Heavy Rare Earths Limited (ASX: $HRE) has successfully received a $312,168 Research and Development (R&D) Tax Incentive Rebate for its eligible activities during the 2023 financial year, specifically related to the Cowalinya rare earth project. The Company's commitment to leveraging government incentives to support its R&D initiatives is evident through this rebate. Looking ahead, HRE aims to continue utilizing such programs to advance its exploration and development efforts in the rare earth sector, with plans to lodge further claims for eligible expenditure over the coming financial years.