Asia
Grange Resources Flags Potential Non-Cash Impairment of Up to AU$600 Million; Shares Hit Six-Year Low
Grange Resources (ASX:GRR) flagged a potential non-cash impairment charge of between AU$300 million and AU$600 million against its Savage River operations following a review of asset carrying values as at June 30, according to a Thursday filing with the Australian bourse.The review comes amid market uncertainty, commodity price volatility and ongoing optimization of its North Pit Underground Project, per the filing.The review is expected to be completed ahead of the release of its half-year results on Aug. 31, the filing added.The company's shares added 1% in recent Thursday trade but earlier reached their lowest since March 2020.
ASX:GRR
