Black hole of write-downs and impairments destroy Galaxy's financial year

THE poor lithium market for producers has seen Galaxy Resources report a headline full-year loss of US$284 million, with most of the damage accounted for by non-cash write downs and impairments.

Black hole of write-downs and impairments destroy Galaxy's financial year Black hole of write-downs and impairments destroy Galaxy's financial year Black hole of write-downs and impairments destroy Galaxy's financial year Black hole of write-downs and impairments destroy Galaxy's financial year Black hole of write-downs and impairments destroy Galaxy's financial year

Galaxy's next development is Sal de Vida in Argentina

Some $245 million was lopped off the P&L statement in such fashion, including a $173 million impairment of property, plant and equipment at Mt Cattlin, a $33 million "derecognition" of deferred

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