Windimurra operator placed in administration

ASX-listed Atlantic has called in administrators for its operating subsidiary Midwest Vanadium, which owns the Windimurra vanadium and iron-ore project, in Western Australia, after the company’s note holders and major shareholders were unable to agree on the restructure of Midwest Vanadium. Discussions between shareholder Droxford International and the note holders have been going since February last year, regarding additional funding required to implement Midwest Vanadium’s business plan to restart the Windimurra project, after a fire ripped into the beneficiation plant, causing some A$100-million in damages.