30 MARCH 2015Altech Chemicals Press Release
Altech receives $815,000 from R&D advance loan facility
Edited by : AL CIRCLE
1 min read
Altech Chemicals Limited is pleased to announce that it has entered into a short-term debt-based instrument that provides the Company with immediate funds equivalent to its forecast research and development (R&D) tax incentive offset (R&D Scheme) for the year ended 30 June 2015.
The advance of $815,000 from Platinum Road was based on the estimated R&D Scheme (relating to the Company's completed and remaining eligible R&D activities) being received in October 2015.
The upfront funds will allow Altech to accelerate its bankable feasibility study (BFS) and ongoing R&D activities for its proposed high purity alumina (HPA) processing operation.
The Company reported a cash position of $1,174,000 as at 31 December 2014.
The advance of $815,000 from Platinum Road was based on the estimated R&D Scheme (relating to the Company's completed and remaining eligible R&D activities) being received in October 2015.
The upfront funds will allow Altech to accelerate its bankable feasibility study (BFS) and ongoing R&D activities for its proposed high purity alumina (HPA) processing operation.
The Company reported a cash position of $1,174,000 as at 31 December 2014.
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