AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Secured A$439,000 R&D tax rebate under the Australian Government’s incentive scheme.
- Advanced offtake agreement with Germany’s HMS Bergbau for Victory Bore products.
- Strengthened financial position to accelerate project development and innovation.
Surefire Resources (ASX:SRN) has received a significant financial boost with a refundable tax offset of A$439,000 under the Australian Government’s Research and Development (R&D) Tax Incentive scheme. This funding recognizes the company’s commitment to technological advancements and project innovation during the 2023/2024 financial year.
The rebate is aimed at supporting Surefire’s ongoing R&D efforts, particularly within its wholly owned Victory Bore Vanadium Project. A key focus has been on enhancing processing technologies and High Purity Alumina test work, positioning the company at the forefront of critical minerals research and development. Under the government scheme, eligible companies with an annual turnover of less than A$20 million can claim a refund of 43.5 cents per dollar spent on qualifying R&D activities.
This financial reinforcement comes at a crucial time as Surefire continues to progress its projects. The rebate not only enhances liquidity but also ensures that investments in innovation and efficiency remain on track. Such initiatives are integral to improving productivity and competitiveness within Australia’s resource sector.
Advancing Commercialisation with Offtake Agreement
Further strengthening its growth trajectory, Surefire Resources has recently signed a Heads of Agreement (HOA) with Germany’s HMS Bergbau AG. The agreement secures offtake rights for all critical mineral products from the company’s Victory Bore Critical Minerals Project, marking a pivotal step toward project commercialisation.
HMS Bergbau, a well-established global raw material marketing and logistics specialist, brings extensive experience in Europe, Africa, Asia, and the Middle East. The company’s strong industry connections and funding network align with Surefire’s strategic goals, reinforcing Victory Bore’s development pathway.
This agreement follows an Expression of Interest received from HMS Bergbau in 2024, first announced on November 20. Additionally, discussions with Saudi Arabian and European stakeholders are ongoing regarding potential project funding, further enhancing the financial and strategic outlook.
The HOA sets the stage for finalising key commercial terms, including product volumes, delivery schedules, and pricing structures. This structured approach not only accelerates project milestones but also strengthens the foundation for long-term success in the global critical minerals market.
With a combination of financial backing from the R&D tax rebate and a promising offtake agreement, Surefire Resources is well-positioned to advance its key projects and capitalise on growth opportunities in the resource sector.
