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Argent to dispute AusIndustry's findings of up to A$1.4M penalty on R&D claims

Argent Minerals Ltd. said Jan. 8 that it will dispute the findings by AusIndustry, following a review of the research and development claims made by the explorer for the 2015-2016 and 2016-2017 financial years.

The Australian precious and base metals explorer was advised by AusIndustry that it may be required to repay up to A$1.4 million, plus penalties and interest, following the review. However, Argent maintains the claims were made in compliance with the applicable legislation.

An independent review of AusIndustry's claim against Argent will be conducted by a leading accountancy and advisory firm.