asx announcement
24 December 2013
Northern Minerals receives R&D rebate of $6m
Northern Minerals (ASX: NTU) is pleased to advise that, following the completion of the research and development (R&D) claim for the year ending 30 June 2013, it has received a total of $6.03m in R&D rebates for the year.
Under the Federal Government's Research and Development Tax Incentive scheme, eligible companies which undertake R&D activities are entitled to a cash rebate of 45 cents in the dollar for all R&D expenditure incurred in Australia.
For more information:
Name Company Contact
George Bauk Managing Director / CEO Northern Minerals
+ 61 8 9481 2344
Ryan McKinlay / Michael Vaughan
About Northern Minerals:
Cannings Purple +61 408 347 282
+61 422 602 720
+61 8 6314 6300
Northern Minerals Limited (ASX: NTU) is focused on development of rare earth elements (REE), with a large and prospective landholding in Western Australia and the Northern Territory. The Company's flagship project is Browns Range, where it has a number of prospects with high value HRE in xenotime mineralisation. In particular, the mineralisation includes high levels of dysprosium and yttrium, which are in short supply globally and expected to be increasingly sought after as world economies stabilise and recent trends in urbanisation and technology diffusion, particularly in Asia, accelerate. Following outstanding results from its drilling programs the Company has delivered an expanded JORC resource, and is advancing Browns Range toward production using a relatively simple and low cost processing flowsheet to produce a high grade mixed Rare Earth oxide. Northern Minerals also has a HRE exploration program underway at the geologically similar John Galt project and Boulder Ridge Project. For more information www.northernminerals.com.au
Northern Minerals
Level 1
675 Murray Street
West Perth WA 6005
PO Box 669
West Perth WA 6872 www.northernminerals.com.au
[email protected]
ASX: NTU
ABN 61 119 966 353
Telephone: +61 8 9481 2344
Facsimile: +61 8 9481 5929