Elixir Energy welcomes non-dilutive funding ahead of Daydeam-2 spud

–News Direct–

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 Governments 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

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/elixir-energy-welcomes-non-dilutive-funding-ahead-of-daydeam-2-spud-719052580

Elixir Energy Ltd

comtex tracking

COMTEX_441429732/2655/2023-10-04T12:39:39

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Boston New Times  journalist was involved in the writing and production of this article.

Written by