Beyondie Sulphate of Potash Project receives overseas research approval

KLL is now eligible to claim tax offsets for overseas research expenditure on activities approved by the application.

Regarding the 2015/16 income year, KLL has received a total US$1 371 736 in R&D tax offsets for the 2015/16 income year for both Australian and overseas R&D activities in relation to the Beyondie Sulphate of Potash Project.

Managing Director, Brett Hazelden, said: “The receipt of the US$536 000 in R&D tax offset funds, in addition to the recently completed US$6 million Initial Public Offer raise, puts KLL in an enviable cash position. This approval allows Kalium Lakes to confidently continue the R&D activities associated with the design and development of the Beyondie Sulphate of Potash Project.”