Altair Resources Inc (C:AVX)
Shares Issued 49,861,501
Last Close 2/14/2018 $0.07
Friday February 16 2018 – News Release
Mr. Harold Shipes reports
ALTAIR RECORDS PROVISION ON CARRYING VALUE OF CREPULJE
Altair Resources Inc.’s Harold (Roy) Shipes, chairman and chief executive officer, has released information on the company’s accounting of the carrying value of the Crepulje project located in Kosovo.
In late August, 2017, the company announced final drill results from the 2017 drill program at Crepulje. Management and its advisers have since considered the results of the drill program and have now determined that an impairment provision will be recorded in its Dec. 31, 2017, interim accounts to reduce the carrying value of the Crepulje to nil. Mr. Shipes commented, “We made the decision to impair the carrying value of Crepulje given the drill results and our decision that Crepulje will not be a focus of the company’s future exploration and development activities.”