Strategic Minerals receives tax rebate from UK authorities
Source - SMW
Strategic Minerals said it had received a rebate of £248,155 from UK tax authorities in relation to R&D tax relief claims.
The claims were sought by the company through its exploration programmes at its Redmoor tin and tungsten project, being undertaken through subsidiary Cornwall Resources.
The rebate was well in excess of January's payment due to New Age Resources for the purchase of Cornwall Resources, the company said.
'From a cash flow perspective, it is also reassuring that Cornwall Resources is able to provide revenue to fund its own purchase,' executive director Peter Wale said.
At 2:16pm: (LON:SML) Strategic Minerals PLC share price was 0p at 0.58p