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Arafura managing director Gavin Lockyer.

Arafura flags $28m impairment

Rare earths company Arafura Resources says it will incur a $27.7 million non-cash impairment charge against its Nolans project in the Northern Territory.

In a statement, Gavin Lockyer-led Arafura said it would be disclosing the non-cash charge in its upcoming half-year report, against the evaluation assets of Nolans.

“The anticipated impairment charge has resulted from a review of the deferred evaluation costs for Nolans and specifically those incurred in the development of the now superseded hydrochloric acid pre-leach flow sheet,” Arafura said in a statement.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
178thArafura Resources51%-13%
210thBulletin Resources38%18%
276thClassic Minerals25%0%
493rdEuropean Lithium-11%38%
644thGBM Resources-37%-25%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

02/11/17
$15k Bought
05/04/17
$5k Issued
05/04/17
$15k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

126th↑Bulletin Resources$928k
127th↑GBM Resources$855k
128th↑Arafura Resources$847k
129th-European Lithium$777k
130th-Classic Minerals$762k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Arafura Resources

288thGavin Lockyer$456k
394thPeter Sherrington$354k
451stRichard Brescianini$313k
Ranked by total remuneration from all listed WA companies

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