WA continues co-funded drilling initiative
The government co-funding initiative has been going since 2009. Image: Asia Iron. By Cameron Drummond 42 PROJECTS across WA will share up to $4.75 million under State Government’s Exploration Incentives Scheme (EIS) co-funding drilling initiative. The $130 million initiative, initially supported by Royalties for Regions, is being funded from April 2009 to June 2017. The program refunds up to 50 per cent of direct drilling costs with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole, and $30,000 for a prospector application. Refunds are made after completion of drilling and the submission of reports, which are released publically by the Department of Mines and Petroleum after a six-month confidentiality period....