Nimy Resources receives $1.47m R&D tax incentive refund

Nimy Resources Limited (ASX: $NIM) has received a research and development (R & D) tax incentive refund of $1.47 million (including interest) under the Australian Federal Government's R & D Tax Incentive Scheme. The refund is related to eligible R & D activity expenditures incurred at the Company's Mons Project during the 2022/2023 financial year.

Executive Commentary

The receipt of the R & D tax incentive refund is a positive outcome for Nimy Resources. It reflects our commitment to innovation and exploration in the mining sector. This financial support will further bolster our efforts in developing critical metals for the future economy, particularly in Western Australia. We remain focused on advancing the Mons Project and maximizing the potential of the newly discovered greenstone belt.

Summary

Nimy Resources Limited (ASX: $NIM) has received a $1.47 million R & D tax incentive refund for eligible R & D activity expenditures at the Mons Project during the 2022/2023 financial year. The refund underscores the company's dedication to innovation and exploration in the mining industry. Nimy Resources continues to prioritize the development of critical metals for the forward-facing economy, with a particular focus on the Mons Project in Western Australia. The receipt of this refund will provide additional financial support for the company's ongoing efforts in advancing its exploration and development initiatives.