Moho gets $1.28m R&D refund, pushes hard for early cashflow from East Sampson Dam
Special Report: Surging explorer Moho Resources (ASX:MOH) will receive a handy $1.28m tax refund from research and development (R&D) spending across its WA and Queensland projects.
As mineral deposits get deeper and harder to find, explorers are trying to find cheaper and more effective ways to make a discovery.
Since listing in November 2018, Moho has actively progressed a number of cutting-edge R&D programs in conjunction with the CSIRO, Curtin University in WA and external consultants — all part of a strategy to improve and refine its mineral discovery processes. “We have been thinking outside the box, applying innovative technologies and in new ways across our projects.
Moho’s Ralph Winter says the $1.28m rebate is a handy cash injection which it intends to reinvest in furthering its projects.
The Moho share price caught a +200 per cent rocket earlier this month after it was able to extend known high-grade gold mineralisation at East Sampson Dam in WA.
Results from the explorer’s second drilling program at the prospect, about 50km from Kalgoorlie, included 2m at 24.61 grams per tonne (g/t) gold inside a larger 5m intersection grading 10.36g/t gold, 54m from surface.
“We want to be a self-funded explorer,” Winter says.
“If we have cash coming in from these projects — with East Sampson Dam being the obvious first to go into production — we can utilise that money to expand exploration across our wider portfolio.
“East Sampson Dam is a bit of a catalyst for us to be able to grow the company.”
Winter says a consultant mining engineer is helping Moho refine the economics behind a preliminary open pit/tolling treating operation.
“We’ve already started discussions with potential toll mills and mining contractors,” he says.
“It’s still early days, but we are hoping to advance that fairly quickly. If approvals all go to plan, then the sky’s the limit.”