Impairment looms as cost focus continues at Galaxy

GALAXY Resources remains committed to its counter-cyclical investment strategy in the Americas despite ongoing headwinds in the lithium space and an expected US$20-30 million impairment for its August accounts, the miner said this morning.

Impairment looms as cost focus continues at Galaxy Impairment looms as cost focus continues at Galaxy Impairment looms as cost focus continues at Galaxy Impairment looms as cost focus continues at Galaxy Impairment looms as cost focus continues at Galaxy

Mt Cattlin is now trialling tailings treatment.

The non-cash write-down is expected to have no impact on cashflow, operations or bank covenants, and is purely due to the soft pricing environment for spodumene, chief financial officer Alan Rule