Brief: Tribeca Global Natural Resources Says To Impair Credit Exposure To Paringa Group

Terra Metals

09/06/2020 24:41

June 9 (Reuters) - Paringa Resources Ltd  PNL.AX :
    * TO IMPAIR CREDIT EXPOSURE TO PARINGA GROUP
    * BELIEVES THERE IS SOME MARKET INTEREST IN PARINGA ASSETS
BUT MAY
TAKE TIME FOR SUCH INTEREST TO BE FORMALISED
    * DECIDED TO TAKE IMPAIRMENT WHICH WILL RESULT CO'S EXPOSURE
BEING
WRITTEN DOWN BY ABOUT 80%
    * RESULTING IMPAIRMENT WILL LOWER POST-TAX NTA FROM
ESTIMATED
$2.01 PER SHARE AS AT 31 MAY TO $1.711

Source text for Eikon:  urn:newsml:reuters.com:*:nASX3bsNCD
Further company coverage:  PNL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))