Impairment means it (Vicp41) is worth less than what they've spent on it, ie cost of geological studies over the years, and they've written off the book value of those costs.
Might be part of clearing the books for the proposed demerger.
The other joint venture partners are BAS and OBL.
I guess MOG will assign its share of VicP41 to BAS and/or OBL
How much will MOG get for it is the question.
I reckon $zero.
MOG Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
