Additional Royalty Tax Credits will be applied for on an ongoing basis for eligible costs associated with expenditures such as the upcoming horizontal wells drilled into Nazare, construction of processing facilities, and all other applicable programs into the future.
Royal anticipates receiving the first credits during the current quarter, with the remainder to come as the project continues to advance. The royalty tax credits are readily transferable and salable within the province. Any transfers and/or sales will be reported in Royal's quarterly financial statements.
Royal controls over 1,000,000 acres of prospective helium land in southern
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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