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Bullabulling Gold receives second Aussie tax rebate


Gold group Bullabulling Gold (LON:BGL) has received a second research and development rebate from the Australian tax office.

Bullabulling said it had already been paid the A$2.5mln rebate, which stemmed from a tax incentive application lodged on behalf of its subsidiary, Bullabulling Operations Pty.

The company had previously received A$2.0mln for a similar application lodged on behalf of its other subsidiary,Bullabulling Gold UK Ltd, in July.

Funds from both rebates will be used for work on the definitive feasibility study (DFS) for the 3.7 mln ounce Bullabulling project. The DFS is scheduled for completion in 2014.

Bullabulling said on Monday it had re-started drilling at the flagship project to help finalise mine design in the infrastructure corridor between the planned four open pits.

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