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ST GEORGE MINING LIMITED — Capital/Financing Update 2013
Oct 22, 2013
65782_rns_2013-10-22_dbc72955-1507-46ac-9b82-9a30b7a5371a.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE
23 October 2013
ST GEORGE RECEIVES $865,000
HIGHLIGHTS
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St George receives cash payments of $595,000 and $270,000
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St George is fully funded for completion of 2013 exploration programme
St George Mining Limited (ASX: SGQ ) (“St George Mining” or “the Company”) is p leased to confirm it has received a cash payment of $595,0 0 0 pursuant to the Federal Government’s R&D T a x Incentive Scheme.
This Scheme is administered jointly by AusIndustry and the Australian Taxation Office. The Company’s 2012/2013 financial year tax return was assessed to include research and develop m ent expenditure eligible for the cash rebate under the R&D T ax Incentive Scheme.
The cash payment of $595,000 rep r esents a cash rebate for that R&D expenditure.
St George Mining is also pleased t o confirm that it has received a cash payment of $270,000 as part of the arrangements for termination of th e Project Dragon farm-in agreement.
John Prineas, Executive Chairman of St George Mining, said:
“We appreciate the continued su p port by the Australian Government through the R&D Tax Incentive Scheme. It makes a real difference to junior companies like ourselves which are e n deavouring to make an exploration breakthrough by devel o ping new technical methods.
“St George’s innovative exploratio n activities and use of modern technology conti n ue to unlock significant nickel potential at its 100% own e d East Laverton Property in the North Eastern Goldfields region of Western Australia.
“The cash received by the Compan y during the month ensures that we are fully f u nded for the remainder of our 2013 exploration program m e, and well positioned to achieve exploration success at our exciting nickel prospects.”
For further information, please contact:
John Prineas Colin Hay Executive Chairman Professional Public Relations St George Mining Limited (+61) 08 9388 0944 mob (+6 1 ) 404 683 355 (+61) 411 421 253 [email protected] [email protected] www.stgeorgemining.com.au
St George Mining Limited ACN 139 3 08 973 Level 1, 115 Cambridge Street, PO Box 1305, West Leederville WA 6007 Phone + 61 8 9322 6600 Facsimile + 61 8 9322 6610
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