Millennium Minerals has flagged a $76 million impairment on its Nullagine gold operations assets, on the back of a material downgrade in ore reserves.
Millennium Minerals has flagged a $76 million impairment on its Nullagine gold operations assets, on the back of a material downgrade in ore reserves.
In a statement today, the company said the impairment charges were non-cash and wouldn’t affect the company’s cash position or operations.
Millennium also said it had ‘de-recognised’ deferred tax assets to the sum of $12 million.
“The review is subject to the finalisation of the year-end audit process, which is expected to be completed and announced to the ASX by the end of March,” Millennium said.
Millennium shares closed 6.2 per cent lower to 3 cents per share.