Galaxy warns of half-year impairment
KALGOORLIE (miningweekly.com) – Lithium miner Galaxy Resources has warned shareholders of a non-cash impairment charge of between $150-million and $185-million for the half-year ended June.
The impairment charge followed a review of Galaxy’s inventory at its Mt Cattlin operation, as well as the mine development costs attributable to the acquisition of General Mining, and deferred tax assets arising from capitalised tax losses.
Galaxy is expected to release its half-year results in late August.
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