News: AQQ Aphrodite Gold updates on proposed merger with Spitfire Materials

Oct 10 (Reuters) - Aphrodite Gold Ltd (AQQ)

• Updates on proposed merger with Spitfire Materials Limited
• Technical valuation for co's exploration and evaluation assets gave a valuation range of $8.8 million to $17.0 million
• Expects exploration and evaluation assets will be written down by an amount of between $10.8 million and $19 million
• Commenced impairment review in relation to carrying value of co's exploration & evaluation assets as at 30 June 2017 of $27.77 million
• Impairment will not have any impact on cash flow or amount of consideration co's shareholders will receive under proposed merger