@sabine i feel you are bang on it's the classic case of a new experienced CEO clearing the decks of any write downs so they can leave a mark on what they wish to achieve, a free kick for less tax for IGO and no change to EDITDA nor free cashflow that should both be records.
IGO in a very good position financially and will lift dividends substantially along with building a cash war chest over the coming years once the lithium business gets into full swing.
I think this write down is smart from the new CEO
Ann: Impairment of Western Areas Assets, page-35
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