$1.65m cash received from option exercise and R&D tax refund
Key points
- $1.2 million received from exercise of 10 million unlisted options
- $448,753 R&D tax refund received
- Combined cash inflow of $1.65 million
Full summary
Lindian Resources Limited (ASX: LIN) has announced that it has received a total of $1.65 million in cash inflows. This includes $1.2 million from the exercise of 10 million unlisted options at $0.12 per share, as well as a $448,753 cash refund under the Federal Government's Research and Development (R&D) Tax Incentive Program. The R&D tax refund is related to process development and metallurgical test work undertaken to improve the beneficiation of rare earth minerals from the company's flagship Kangankunde Rare Earths Project. This combined cash inflow of $1.65 million will strengthen Lindian's financial position as it continues to advance its key projects.
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