Andromeda Metals Granted R&D Tax Relief for GWP

Andromeda Metals Limited (AU:ADN) has released an update.

Andromeda Metals Limited has secured an ‘Advance Finding’ from the Australian Government, allowing the company to reclaim 43.5% of eligible R&D expenditures for its Great White Project over the next three years. This financial incentive, which could total up to approximately $26 million, is aimed at supporting the project’s development stages, especially in areas such as pilot plant operations and mining operating costs. The company’s leadership has expressed gratitude for the government’s support, highlighting the significant financial relief it offers to Andromeda’s shareholders.

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