Causes of Impairment
Specific situations in which an asset might become impaired and unrecoverable include when a significant change occurs to an asset's intended use, when there is a decrease in consumer demand for the asset, damage to the asset, or adverse changes to legal factors that affect the asset.
https://www.investopedia.com/terms/i/impairment.aspThis is why the company (GGG) told us you were misinformed (misinforming). No intended change in use. No decrease in consumer demand. No damage to the asset. It has yet to be seen if legal factors affect the asset because the GGG announcement of 9 April states
"The development strategy for Kvanefjeld is focussed on the production of rare earth elements, butalso incorporates the by‐production of zinc, uranium and fluorspar. Uranium at Kvanefjeld occurs atrelatively low grades compared to most primary uranium mines, however, it can be recovered at lowincremental cost during rare earth production. It is not of great economic significance to theKvanefjeld Project, however revenues along with those from other by‐products would serve to reducerare earth production costs."So GGG would like to exploit uranium but doesn’t necessarily have to. Mining costs more expensive if they can’t exploit uranium but still economically viable.
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Ann: Greenland Government Meeting on Uranium Legislation, page-213
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