Elixir Energy welcomes non-dilutive funding ahead of Daydeam-2 spud
Melbourne, Victoria
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October 04, 2023 12:40 PM Eastern Daylight Time
Elixir Energy Ltd (ASX:EXR) MD Neil Young speaks with Proactive after announcing the company is set to receive a research and development (R&D) rebate of $400,000 for FY23. The rebate comes after the company received an advanced finding from the Australian Government’s Department of Industry, Science and Resources that activities associated with its Daydream-2 well will qualify as eligible R&D activities for the purpose of the R&D tax incentive. The rebate is 48.5% of the qualifying expenditure for the project and is due to be received shortly.
“The R&D rebate for Daydream-2 of around half of the total costs of the well is a very attractive form of non-dilutive funding for Elixir,” Young said.
“We are pleased to work with Radium Capital to provide us with a very simple and effective debt facility to optimally manage our cash-flows in 2024.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
