Scandium International Mining Corp (SCY)

[BL4Nio]

News: Scandium International Announces Receipt of a $629,000 Net Tax Refund Under the Australian Government's Research & Development Incentive Program

https://finance.yahoo.com/news/scandium-international-announces-receipt-629-131300180.html

November 16, 2016 / Scandium International Mining Corp. (SCY.TO) ("Scandium International" or the "Company") today announced that its Australian subsidiary company has received an A$629,000 (approximately US$474,000) Research & Development ("R&D") Tax Incentive refund, net of costs to prepare and file. This refund is related to costs incurred in respect of the tax year ended June 30, 2016.

The refund was paid under the Australian Government's R&D Tax Incentive Program, a program designed to encourage industry to engage in R&D activities that benefit Australia. Certain investments made in 2015 and 2016 to find innovative solutions to the Nyngan Project processing flowsheet, together with studies undertaken to define long-term environmental solutions for the project, met the criteria for a refundable tax credit under the R&D Tax Incentive Program.


For a small company at this stage of the game, this is a nice unexpected boost to their bottom line. 2 great news releases in the last week.