
- WORLD EDITIONAustraliaNorth AmericaWorld
January 18, 2024
Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) is pleased to announce that it has received a tax credit of CAD$415,453 (approximately A$470,000) from Revenu Quebec in Canada.
The credit stems from Labyrinth’s resources-related expenditure in the year to 30 June 2023.
Labyrinth announced earlier this month that it has agreed to sell the Labyrinth and Denain gold projects in Quebec, along with related assets and mining information, for US$3.5 million cash (refer to ASX announcement dated 8 January 2024).
This sale is in line with Labyrinth’s decision to step up its exploration focus at its Comet Vale
tenement package in Western Australia.
Labyrinth Chief Executive, Jennifer Neild said: “We know there is immense exploration upside at Comet Vale, including strong scope to grow the Resource.
“The geology is extremely prospective and this is supported by early-stage geophysics and sampling results. There is also clearly multi-commodity potential.
“We are now reviewing our exploration strategy for Comet Vale and aim to expand our WA assets.”
Click here for the full ASX Release
This article includes content from Labyrinth Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
LRL:AU
The Conversation (0)
31 August 2023
Labyrinth Resources
Developing underexplored gold assets in the prolific Canadian Abitibi Gold Belt and the Yilgarn Craton of Western Australia.
2h
Predictive Discovery and Robex Merge, Combining West African Gold Projects
Australia-based Predictive Discovery (ASX:PDI) and Canadian company Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) have agreed on a merger of equals, creating West Africa’s new mid-tier gold producer.In a joint announcement, the companies said that Predictive Discovery will indirectly acquire... Keep Reading...
17h
Gold Price Breaches US$4,000, Silver Tests US$50
Gold marked a new price milestone on Wednesday (October 8), breaking US$4,000 per ounce. The spot price hit a fresh record, rising as high as US$4,056.14 in midday trading. Future prices for gold breached US$4,000 for the first time on Tuesday (October 7) and have continued to climb higher.The... Keep Reading...
22h
What Was the Highest Price for Gold?
Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
22h
A Guide to Investing in Physical Gold
Gold is known as an attractive safe-haven investment and has been used to store wealth during volatile times through history. It has interesting currency-like tendencies, and retains its purchasing power better than paper currencies.For that reason, gold market analysts typically recommend that... Keep Reading...
Latest News
Latest Press Releases
Trading Halt
12h
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00