Astro Resources NL (AU:ASE) has released an update.
Astute Metals NL has conducted a strategic review of its Nevada lithium projects, deciding to focus on the high-potential Red Mountain Project due to its surface-level, high-grade lithium mineralization. The company will relinquish lesser projects like Polaris and Altair, resulting in an impairment charge that will lower their net profit before tax by $1,859,653 for the 30 June 2024 financial statements. This move is expected to optimize shareholder value by concentrating resources on the most promising ventures.
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