Australian Vanadium Limited (ASX: AVL, the Company or AVL) advises that it has received a total of $1.59 million under the Australian Federal Government's Research and Development (R&D) Tax Incentive Scheme for R&D activities undertaken during the 2023/24 tax year.
The amount was received in April 2025 and relates to eligible R&D work conducted by both AVL and Technology Metals Australia (TMT). It is in addition to the $0.65 million refund previously received and disclosed in the Company's Appendix 5B for the December 2024 quarter, which related to TMT's initial submission. The R&D Tax Incentive Scheme, jointly administered by the Australian Taxation Office and the Department of Industry, Science, Energy and Resources, provides a tax offset to encourage companies to invest in R&D activities that benefit Australia. Of the total $1.59 million received, $1.27 million relates to AVL's submission, with the remaining $0.32 million resulting from a variation to TMT's original claim lodged in the December 2024 quarter.
Contact:
Graham Arvidson
CEO
Tel: +61 8 9321 5594
ABOUT AUSTRALIAN VANADIUM LTD
AVL is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain - from resource through to steel and energy storage opportunities. AVL is advancing the development of its world-class Australian Vanadium Project at Gabanintha. The Australian Vanadium Project is one of the most advanced vanadium projects being developed globally, with 395.4Mt at 0.77% vanadium pentoxide (V2O5), containing a high-grade zone of 173.2Mt at 1.09% V2O5, reported in compliance with the JORC Code 2012. VSUN Energy is AVL's 100% owned renewable energy and energy storage subsidiary which is focused on developing the Australian market for vanadium flow batteries for long duration energy storage. VSUN Energy was set up in 2016 and is widely respected for its VFB expertise. AVL's vertical integration strategy incorporates processing vanadium to high purity, manufacturing vanadium electrolyte and working with VSUN Energy as it develops projects based on renewable energy generation and VFB energy storage.
ASX Listing Rule 5.23
The information in this announcement relating to mineral resource estimates for the Australian Vanadium Project is extracted from the announcement entitled '39% Increase in High Grade Measured and Indicated Mineral Resource' released to the ASX on 7 May 2024. The relevant announcement is available on the Company's website www.avl.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcements
(C) 2025 Electronic News Publishing, source ENP Newswire