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Andromeda Metals Limited (ASX:ADN)

ALERT: Price-sensitive ASX Announcement for ADN
Current share price for ADN : $0.007 -0.002 (-22.22%)+
Announcement
Release
5 May 2026 10:04AM
Price at Release
$0.009
Full Release
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Summary
Andromeda Metals Limited announced receiving a $1.66 million R&D tax refund for the 2025 financial year. This refund, part of the Australian Government's R&D Tax Incentive, was granted after the company expended $3.4 million in eligible R&D activities, primarily related to the Great White Project. The refund rate is 43.5% and supported by an Advance Finding from AusIndustry, ensuring eligibility for refundable tax offsets over a three-year period, with expected total expenditures of $26 million. This financial support underscores the government's role in fostering innovation, a sentiment echoed by the company's Acting CEO, Sarah Clarke.
Key Points
  • Andromeda Metals Limited received a $1.66 million R&D tax refund.
  • The refund was granted after lodging the 2025 financial year tax return.
  • The R&D expenditure totaled $3.4 million in the 2025 financial year.
  • The refund is part of the Australian Government's R&D Tax Incentive.
  • The refund rate is 43.5% for eligible expenditures over a three-year period.
  • Andromeda's refund is supported by an Advance Finding from AusIndustry.
  • The financial year for the refund starts from the 2024 financial year.
  • Eligible expenditures under Stage 1A+ are estimated to be $26 million.
  • The refund is a significant contribution to Andromeda's innovation efforts.
  • Sarah Clarke, Acting CEO, expressed satisfaction with the financial outcome.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.