Pah, although the book value of REE has been written down to nil it is not so much a recognition of a complete loss as an inability to determine a fair market value of the investment due to REE being in early stages & the technology employed being quite new & lacking peers to provide a comparative value (refer note 12 of annual report for more detail). The impairment charge is required under accounting standards given the circumstances so is a legislative necessity which may not reflect the true value of the investment. If you are interested in similar developments in this technology have a look at IXR & how it is doing with its subsidiary Ionic Technologies International Ltd - it may brighten your outlook up a bit
RR1 Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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