It's sinking cost. It's industry wide, BHP, rio, etc they all will have impairment provision.
Stock valuation is focusing on current and future.
Stock price has been already priced in write down. Price Book ratio, was 20.5c : $1.29 NTA, now is still 20.5c : 88c . In fact, curent share price has priced in further $2b impairment.
ARI Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
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