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Atlantic Announces End of Restructuring Discussions for Midwest Vanadium
Feb. 12, 2015 10:33AM PST
Battery MetalsAtlantic Ltd (ASX:ATI) announced that discussions have ceased regarding a consensual restructure of its subsidiary, Midwest Vanadium Pty Ltd.
Atlantic Ltd (ASX:ATI) announced that discussions have ceased regarding a consensual restructure of its subsidiary, Midwest Vanadium Pty Ltd.
As quoted in the press release:
MVPL owns 100% of the Windimurra vanadium and iron ore project, located approximately 600 kilometres north of Perth in Western Australia.
Discussions between the Notes and Droxford regarding the additional funding required to implement MVPL’s business plan as well as an appropriate longer term capital structure for the business have been ongoing for some time.
Atlantic understands that the parties have not been able to reach a mutually acceptable agreement and as a result have terminated the discussions.
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