21 December 2017
ASIC notes the decision by Intrepid Mines Limited (Intrepid) to make a $16.1 million impairment charge against its Zambian mining properties in its financial report for the half-year ended 30 June 2017.
Intrepid announced a subsequent sale of its Zambian assets for $4.75 million plus $1 million deferred contingent payments on 12 December 2017, resulting in a further loss.
ASIC had raised concerns about the value of these assets in Intrepid’s financial report for the year ended at 31 December 2016.
Ann: Agreement to sell Zambian assets, page-38
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