PERTH, Australia, Feb. 14, 2013 /CNW/ - Mirabela Nickel Limited (Mirabela or the Company) (ASX: MBN, TSX: MNB) expects to recognise a non-cash impairment charge
of approximately US$380 million on its 2012 full year results. The
impairment charge is subject to Board approval and completion of the
external audit and may vary from the estimate provided.
The Company identified impairment indicators such as a significant
decline in the market value of entities producing the same commodity,
declining nickel prices, and a reduction in market capitalisation.
Accordingly the Company performed an impairment test on the
recoverability of its assets.
Further detail on this impairment will be provided within the Company's
Annual Report for the year ended 31 December 2012.
SOURCE: Mirabela Nickel Ltd.
For further information:
Chief Financial Officer & Company Secretary
Telephone: +61 439 930 333
General Manager Commercial
Telephone: +61 406 424 916