Kibaran Resources Limited: Research & Development Approval
Kibaran Resources Ltd. ("Kibaran" or "the Company") (ASX:KNL) is pleased to announce that it has received Advance Finding Certificates from AusIndustry confirming the eligibility of its R&D programs in accordance with s28A and s28C of the Industry Research & Development Act 1986. The Certificates cover Kibaran's Australian and overseas R&D programs that comprise a total anticipated expenditure of $8.4m and are valid for the 3 years ending 30 June 2020.
Advance Findings are intended to provide planning certainty for companies carrying-out R&D that their programs are eligible for the R&D tax-offset and involve a rigorous process of R&D assessment.
The R&D programs are a continuation of on-going graphite experimentation and Kibaran is currently in discussion with the relevant parties to resolve the query in relation to the year ended 30 June 2017 (refer ASX release Research & Development Update on 31 January 2019).
For further information, please contact:
INVESTORS
Andrew Spinks, Managing Director
T: +61 8 6424 9002
MEDIA
Paul Armstrong, Read Corporate
T: +61 8 9388 1474