Moho claws back nearly $1m from the taxman for its R&D work

Moho has received a substantial boost to its funds after receiving a $979,000 as a refundable tax offset for eligible research and development carried out across its projects.

This included expenditure conducted across its prospective projects at Silver Swan North and Burracoppin in Western Australia and Empress Springs in Queensland during the 2021-22 financial year.

Moho Resources (ASX:MOH) also actively progressed R&D programs in conjunction with CSIRO, Curtin University, the Department of Mines, Industry Regulation and Safety and external consultants as part of its overall strategy to improve and refine its mineral discovery processes.

“This is additional validation of the quality and ingenuity of technical work that the Moho team conducts across all its projects in Australia,” managing director Ralph Winter noted.

Recent activity

The company recently started aircore drilling at the Burracoppin project to investigate the source of elevated dysprosium and neodymium values as well as following-up on historical surface gold mineralisation.

Moho intends for this work to be a first pass to test the channel visible in the airborne electromagnetic (AEM) data for REE values, which extends for 16km and is 4.5km wide.

A recent heritage survey has also confirmed that there are no impediments to its planned exploration activities at the Dukes prospect within the Silver Swan North project in Western Australia.

This article was developed in collaboration with Moho Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.