Oakdale Resources Ltd. announced an asset impairment of A$2.8 million for its fiscal 2018 that ends June 30 due to a value write-down of its graphite tenement in South Australia.
Following a review, it decided to relinquish 49% of the tenement.
The company retained the tenements that contain graphite, iron ore and zinc while relinquishing the lower-priority areas to reduce exploration commitments while it develops other commercial opportunities.
