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Armada Metals Limited (ASX:AMM)
ALERT: Price-sensitive ASX Announcement for AMM
Current share price for AMM : $0.010 0 (0%)+
Announcement
Release
11 Sep 2024 8:23AM
Price at Release
$0.010
Full Release
Summary
Armada Metals Limited announced an $11.5 million impairment for its Gabon asset following a review of its asset exploration portfolio. The board decided to focus on exploring and developing US assets, to be acquired from Midwest Lithium Limited pending shareholder approval, as well as assets in Zimbabwe. Full details on the impairment will be included in the June 2024 Half Year Financial Statements.
Key Points
- Armada Metals Limited will record an impairment of $11.5 million for its Gabon asset.
- The decision follows a review of the company's asset exploration portfolio.
- The impairment details will be included in the June 2024 Half Year Financial Statements.
- The board will focus on exploring and developing US and Zimbabwean assets.
- The US assets will be acquired from Midwest Lithium Limited, subject to shareholder approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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