Critica (ASX:CRI) has received a cash refund of $1 million from the Australian Government’s Research and Development (R&D) Tax Incentive Program for the financial year ending 30 June 2025.
The company was eligible for the refund due to its eligible expenditures on innovation and metallurgical testwork campaigns at the Jupiter Rare Earth Project in Western Australia.
CEO Jacob Deysel says the refund strengthens Critica’s cash position leading into 2026, where the company intends to advance the project with “disciplined, results-driven metallurgical testwork and pilot programs”.
“When combined with the recently completed tranche one placement and the proposed tranche two placement, subject to shareholder approval in mid-January 2026, Critica is well positioned to maintain momentum and execute its strategy to become Australia’s next rare earth developer,” Deysel says.
As reported by Mining.com.au, Critica is raising $8 million through a two-tranche placement, issuing 307.7 million shares at $0.026 to fund a Scoping Study at Jupiter, as well as associated drilling campaign, metallurgy and piloting, and offtake engagements.
Critica is focused on advancing its Jupiter Project using the mine-to-magnet strategy to produce elements needed for the artificial intelligence, electric vehicles, renewables, and defence sectors.
Write to Maddison Elliott at Mining.com.au
Images: Critica
