Moho Resources Limited (ASX:MOH) has received $621,000 as a refundable tax offset for eligible research and development (R&D) expenditure.
The refunds relate to activity conducted across its prospective projects at Silver Swan North, and Burracoppin in Western Australia and Empress Springs in Queensland during the 2020-21 financial year.
The company has actively progressed R&D programmes in conjunction with CSIRO and external consultants as part of its overall exploration strategy to improve and refine its mineral discovery processes.
This R&D tax refund represents a major addition to Moho’s ongoing exploration budget. It also underlines the contribution that R&D makes in the Company’s exploration processes targeting significant mineral discoveries within our highly prospective portfolio of battery and precious metal projects,” Managing Director, Shane Sadleir, said.