JMEI round 2 a success
BY ELIZABETH FABRI RIVERSGOLD, Minotaur Exploration, St George Mining, Emmerson, and DevEx Resources were just some of the companies to secure funding as part of the Government’s four year, $100 million Junior Minerals Exploration Incentive (JMEI). The JMEI, successfully passed by the Senate in March, provides a tax incentive to invest in small exploration companies undertaking greenfields minerals exploration in Australia. It replaces the former Exploration Development Incentive (EDI), and allows mineral exploration companies (with no mining income) to raise capital, and renounce and pass future tax deductions to their Australian resident investors. 46 companies applied for their share in $31.5 million for the 2018/19 income year, up from 23 companies a year prior. Association of Mining and Exploration Companies…