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Clean TeQ Holdings gets A$2.65M to progress nickel, cobalt project

11:30 EDT 21 Jun 2017 | Proactive Investors

Clean TeQ Holdings (ASX:CLQ, OTCMKTS:CTEQF) has received a cash payment of A$2.6 million from the Australian Tax Office towards Research and Development (R&D) Tax Incentive. The payment represents a 43.5% refundable tax offset of Clean TeQ’s research and development expenditure in FY2016. Clean TeQ owns the Syerston Project located in New South Wales. The Syerston Project is one of the highest grade and largest nickel and cobalt deposit outside of Africa and is one of the largest and highest grade scandium deposits in the world. Clean TeQ’s definitive feasibility study (DFS) for a large-scale mining and processing operation to produce nickel sulphate and cobalt sulphate for the lithium ion battery industry is progressing well. The DFS remains on track for completion in the fourth quarter of 2017. Clean TeQ recently dispatched high purity nickel sulphate samples to a number of potential customers in the lithium ion battery supply chain for testing and analysis. Through its wholly owned subsidiary Clean TeQ Water, Clean TeQ is also providing wastewater treatment solutions for removing hardness, desalination, nutrient removal and zero liquid discharge. The company’s sectors of focus include municipal wastewater, surface water, industrial waste water and mining waste water.

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