Research and Development Rebate - $408K
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
16 JULY 2024
Research and Development Rebate -$408K
Bryah Resources Limited (“Bryah” or “the Company”) is pleased to announce that is has received
$408k from the research and development government rebate (R&D).
Commenting on the Company’s rebate, Chief Executive Officer, Ashley Jones said:
“This rebate was from the innovative exploration completed on the prospective Narracoota geology
for VMS copper deposits within the Bryah Basin. We are now generating further copper targets
utilising this past experience and plan to combine it with some new advanced geophysical
techniques.
R&D Incentive Payment
On 15 July 2024 the Company received a cash refund of $407,743 from its R&D tax incentive claim
for the financial year ended 30 June 2023. The Australian Federal Government’s R&D Tax Incentive
Program provides a cash refund on eligible research and development activities performed by
Australian companies and is a valuable program that supports Australian innovation.
For further information, please contact:
Ashley Jones, CEO +61 8 9321 0001
This announcement has been produced in accordance with the Company's published continuous
disclosure policy and has been approved by the Board.
Bryah Resources Limited
Level 1, 85 Havelock Street
West Perth, WA 6005
Phone: +61 8 9321 0001
Email: info@bryah.com.au
ASX: BYH
ABN: 59 616 795 245
ABOUT BRYAH RESOURCES
Bryah’s assets are all located in Western Australia, a Tier One global mining and exploration jurisdiction.
Strategically the Projects are energy metals focused, or able to exploit synergies of geological knowledge,
locality and exploration.
The Lake Johnston tenements are prospective for battery metals lithium and nickel. The corridor near Lake
Johnston contains significant mines and discoveries of nickel and lithium, including the historical Maggie
Hays/Emily Ann nickel deposits and the TG Metals Burmeister Project and Charger Metals’ Medcalf
Prospect.
The prospective Bryah Basin licences cover 1,048km2 and have a potential new Volcanogenic Massive
Sulphide (VMS) ‘Horseshoe Lights type’ mine analogue with multiple other untested targets. The area also
contains extensive outcroppings of manganese, the subject of a substantial $7M joint venture with ASX listed
OM Holdings Limited (ASX: OMH). OMH is a vertically integrated manganese producer and refiner with a
market capitalisation of ~$300m. Bryah and OMH have an excellent working relationship, with OMH having
already spent over $3.5 million to earn-in to the Manganese Rights of the Project.
Gabanintha, near Meekatharra, has a JORC 2012 Mineral Resource for Cu, Ni, Co2 and additional structural
gold potential. The copper nickel resource and identified gold mineralisation at Gabanintha will be the subject
of further drill definition and a prefeasibility study to integrate the project with the Australian Vanadium
Project (ASX: AVL). The resource has been defined by the drilling efforts of AVL in the development of its
vanadium project and enabled Bryah to define a base metal resources inventory.
Bryah’s base metals inventory at Gabanintha and manganese JV in the Bryah Basin have a clear pathway to
production.
Bryah holds 12.98% of gold focused Star Minerals (ASX:SMS). Star has a Mineral Resource at Tumblegum
South and exploration prospects in the West Bryah Basin.
ASX: BYH | bryah.com.au
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