Arafura warns of A$28m Nolans impairment charge

March 10, 2016

Responsive image

Rare earths developer Arafura Resources on Friday warned shareholders of a noncash impairment charge of about A$27.7-million on its Nolans project, in the Northern Territory, for the half-year ended December 31.

The anticipated impairment charge resulted from a review of the deferred evaluation costs for the Nolans project, and specifically those incurred in the development of the now superseded hydrochloric acid pre-leach flowsheet.

Category: General