ECR Minerals Plc receives cash refund under Australian R&D Tax Incentive scheme

ECR Minerals Plc (LON: ECR) has informed about a significant Research & Development refund.

  • The company has received a significant cash refund under the Australian government’s research and development (R&D) Tax Incentive scheme, through its wholly-owned Australian subsidiary Mercator Gold Australia Pty Ltd.
  • The company’s subsidiary MGA has received a cash refund of R&D expenditure of AUD 555,212 or around £295,515.
  • The company has also informed that its subsidiary had carried forward corporate income tax losses of AUD 66,341,587 or around £35.3 million). The said amount will be used to compensate against future taxable gains.
  • On 16th January 2020, at the time of writing, GMT 08:13 AM, ECR shares were trading at GBX 0.78, up by 0.05 points or 6.90% against the previous day closing price.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is not authorised or regulated by the Financial Conduct Authority to provide regulated advice. The purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. The Content is guidance about the different types of investments that are available and sets out general principles to continue before making investment decisions. Kalkine Media is neither authorised nor qualified to provide regulated investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from an appropriately authorised and/or qualified financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.