TTAU Tectonic Gold Plc

 
TIDMTTAU 
 
19 July 2019 
 
                               TECTONIC GOLD PLC 
 
                      ("Tectonic Gold" or the "Company") 
 
                      2018/19 R&D TAX INCENTIVE APPROVAL 
 
Tectonic Gold plc (TDIM: TTAU), the Intrusive Related Gold System ("IRGS") 
exploration pioneer, is pleased to announce that Signature Gold Ltd 
("Signature"), the Company's 100% owned Australian subsidiary, has received 
notification under the Australian Federal Government R&D Tax Incentive Scheme 
that it has been approved for the 2018/19 tax year. 
 
Highlights: 
 
  * Signature has been approved for participation in the scheme for five years 
    running 
 
  * The scheme provides a 43.5% cash rebate on all qualifying technical 
    expenditure 
 
  * Over A$2.5 million received by Signature under the program to date 
 
  * Currently working with advisors to prepare 2018/19 claim submission 
 
  * Program remains ongoing and future expenditures expected to qualify for 
    additional cash rebates 
 
About the R&D Tax Incentive Program: 
 
Signature is conducting an on-going research and development program 
investigating exploration technologies and vectoring methodologies to improve 
the identification and delineation of Intrusive Related Gold Systems. This 
program is registered under the Australian Federal Government R&D Tax Incentive 
Scheme, which provides for a 43.5% cash rebate on an annual basis on qualifying 
expenditures. 
 
Signature has successfully qualified for participation in the scheme for each 
of the last five years and has received over A$2.5 million in rebates for work 
done on advancing  vectoring methodologies focused on IRGS. 
 
The program being conducted by Tectonic Gold remains active with current 
efforts focused on work at Specimen Hill. The Company has utilised a range of 
new technologies to develop this research capability with an aim of 
significantly improving the economics of gold exploration in the region and 
beyond. 
 
About Tectonic Gold: 
 
Tectonic Gold is a gold exploration and development company, focused on the 
identification and delineation of large-scale, multi-million ounce IRG systems. 
 Tectonic Gold has a number of gold discoveries in the New England Orogen in 
Eastern Australia, a prolific gold region, that is home to some of Australia's 
largest gold production companies, like Evolution Mining. 
 
At the beginning of 2019 Tectonic Gold reached agreement with VAST Minerals 
Sands Pty Ltd ("VAST") and acquired 100% of their economic interest in VAST's 
diamond concession on the west coast of South Africa.  Tectonic plans to 
utilise cash flows generated from this project to fund further exploration and 
development of the Company's gold portfolio. 
 
All our gold exploration properties in Queensland are 100% owned and operated 
by Tectonic Gold's 100% owned subsidiary Signature Gold Ltd. 
 
Funds will be allocated to progressing the Mt Cassidy prospect during the 2019 
calendar year with some diamond drilling currently being planned to be 
undertaken at the Prospect under its existing drill for equity deal with 
Titeline Drilling. 7,500m of diamond drilling remains available on a 50% cash 
payment basis under this agreement. 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
"For our shareholders, the non-dilutive financial support from the Australian 
Government is a significant benefit. This scheme has injected over two and a 
half million dollars into our work and enabled Tectonic Gold to significantly 
advance research into gold exploration. With this we have established ourselves 
as a leader in IRGS and get to see a range of exciting gold opportunities that 
other companies don't. We are grateful for the opportunity to participate in 
this excellent program and look forward to maximising the benefits we can bring 
to the industry from the work it has enabled." 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information, please contact: 
 
Tectonic Gold plc                                             +61 2 9241 7665 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com 
@tectonic_gold 
 
NEX Exchange Corporate Adviser and                           +44 20 7469 0930 
Broker 
Peterhouse Capital Limited 
Mark Anwyl 
 
Financial Adviser and Broker                                 +44 20 3005 5004 
VSA Capital Limited 
Andrew Raca 
 
                                     Ends 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulation 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

July 19, 2019 02:01 ET (06:01 GMT)

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