The Conversation (0)
Reuters reported that stock price of Molycorp tumbled as they announced that they have delayed release of financial results, which are expected to reflect a hefty impairment charge.
Reuters reported that stock price of Molycorp tumbled as they announced that they have delayed release of financial results, which are expected to reflect a hefty impairment charge.
As quoted in the market report:
The company said almost the entire impairment charge will relate to last year’s $1.3 billion acquisition of rare earth processor Neo Material Technologies Inc, as it writes down the value of the goodwill associated with the deal.