- Legend Mining (LEG) receives a $2.93 million research and development (R&D) cash refund from the Australian Taxation Office
- The company lodged its FY22 tax return in November 2022, which included an R&D refund claim
- The news comes amid work at the Rockford project in Western Australia’s Fraser Range, where a 3D seismic survey at the Octagonal prospect is taking place
- The company told investors it expects final results from this survey to be delivered by May 2023
- Legend Mining last traded at 3.5 cents on December 6
Legend Mining (LEG) has received a $2.93 million research and development cash refund from the Australian Taxation Office.
The company lodged its FY22 tax return, which included a research and development (R&D) refund claim, in November 2022.
The refund comes as a result of the company’s expenditure on exploration during the 2022 financial year. The Federal Government scheme applies for initiatives that stand to increase and enhance Australia’s strategic role in mining and other key industries at a global level.
Legend Mining received specialist advice from Deloitte in relation to the claim.
The news comes amid work at the Rockford project in Western Australia’s Fraser Range, where a 3D seismic survey over a 24-square-kilometre area at the Octagonal prospect is taking place. The survey aims to define the architecture of the Octagonal Intrusive Complex in relation to the stratigraphic package, to a depth of 1500 metres below surface.
The company told investors it expects final results from this survey to be delivered by May 2023.
Legend Mining last traded at 3.5 cents on December 6.