Augur gets tax refund in Wonogiri project

By Ruli Setiawan

ASX-listed Augur Resources Limited said Thursday that it has received an R&D tax incentive refund of A$551,629 for the 2015 financial year.

?The R&D tax incentive is an Australian Government program under which companies receive cash refunds for 45 percent of eligible expenditure on research and development,? the company said in a statement.

The incentive refund results from expenditure on advancing Augur?s Wonogiri gold project in Indonesia.

The Wonogiri project covers a highly prospective 3,928 hectares in Central Java, Indonesia. The project lies within the tectonically complex Sunda-Banda Magmatic Arc which is characterized by multiple phases of volcanic activity and extensive deformation. Significant gold and copper mineralization is found along this arc including some of the world?s largest copper and gold deposits.

Augur holds a 45 percent economic interest in the Wonogiri license. Another key shareholder is Indonesia?s Rajawali Corporation, also with a 45 percent interest.

Editing by Reiner Simajuntak