Ardea Resources (ASX:ARL) pockets $1.8 million R&D tax rebate

• Ardea Resources (ARL) receives a $1.8 million rebate under the Australian Government’s research and development (R&D) tax incentive
• The company received the rebate for its R&D work that resulted in a breakthrough in its Mineralised Neutraliser (MN) process last year
• The process eliminates the need for purchasing and transporting limestone neutraliser to a site, resulting in potential cost savings and lower CO2 emissions
• The company says the tax rebate, combined with its existing funds, leaves it in a “strong” financial position to maintain momentum
• ARL shares are trading at 73 cents at 10:50 am AEDT

Ardea Resources (ARL) has received a $1.8 million rebate under the Australian Government’s research and development (R&D) tax incentive scheme.

The company received the rebate for its R&D work that resulted in a breakthrough in its Mineralised Neutraliser (MN) process last year.

While developing its Kalgoorlie nickel project, ARL found the magnesite saprock occurring at the base of the nickel laterite mineralisation could be segregated by simple screen beneficiation into mineralised fines.

The fines could then be processed in the atmospheric leach circuit and magnesite scats for first-stage neutralisation of a high-pressure acid leach and nickel-cobalt solution discharge.

Metallurgical testwork proved the concept, and the company believes it will result in “significant” consumable savings and reduced CO2 emissions by eliminating the need to purchase and transport limestone neutraliser to the site.

Ardea’s Managing Director, Andrew Penkethman, said R&D had been an essential undertaking in realising the full potential of the project.

He acknowledged the “ongoing support” of the Australian Government in helping industry innovation within Australia through initiatives such as the R&D tax incentive offset.

“The additional funds will be used to continue to advance the Kalgoorlie nickel project Goongarrie Hub and, when combined with existing funds, leave the company in a strong financial position to maintain momentum,” he said.

ARL shares were trading at 73 cents at 10:50 am AEDT.