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Strategic Minerals receives R&D-related funding

The loan, which funds a portion of the anticipated 2019 R&D Australian Tax Office payment, recognises works conducted at the Leigh Creek copper mine.

Aussie dollars

Strategic Minerals PLC (LON:SML) has received A$575,000 as a loan recourse to the expected 2019 research and development grant/reimbursement from the Australian Taxation Office (ATO).

The cash received is in relation to works conducted at Leigh Creek Copper Mine.

"The loan against anticipated research and development reimbursement reflects the substantial works being undertaken at Leigh Creek in preparation for restoring full operations in 2020. The receipt confirms our expectation of cash flow from the Australian Taxation Office,” said John Peters, the managing director of Strategic Minerals.

Quick facts: Strategic Minerals PLC

Price: 0.425 GBX

Market: AIM
Market Cap: £7.28 m

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