PERTH (miningweekly.com) – Uranium producer Peninsula Energy has warned of a $25-million to $35-million impairment charge in the second half of the financial year, following further downgrades in future uranium price consensus forecasts and lower annual production levels.
The impairment in the second half of the financial year was in addition to the $39-million noncash impairment reported in the first half of the year.
The company told shareholders on Thursday that as the respective impairments were noncash items, they did not have any impact on cash flow or on Peninsula’s existing operations.
Peninsula was expected to release its full financial statements in September.