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Australia's Galaxy Resources flags impairment charge on review of flagship lithium project

Published 07/08/2019, 08:37 am
Updated 07/08/2019, 08:40 am
Australia's Galaxy Resources flags impairment charge on review of flagship lithium project
GXY
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Aug 7 (Reuters) - Australia's Galaxy Resources GXY.AX on Wednesday flagged a non-cash impairment charge of $150 million to $185 million for the first half of 2019, as it carries out a review of its flagship project in Western Australia.

The lithium miner attributed the charge to the Mt Cattlin mine project's development costs related to its acquisition of General Mining Ltd. (1 Australian dollar = $0.6761)

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