Atlantic is using a big insurance payout to rebuild the Windimurra vanadium plant nearly a year after a fire forced the project to shut down, but the company still faces major operational and financial challenges.
Struggling miner Atlantic has secured $29.7 million in debt funding from its major shareholder Droxford International and negotiated a standstill arrangement with the majority of its noteholders.
Embattled miner Atlantic is once again set to obtain extra funding from major shareholder Droxford International, which has proposed a new $32.6 million loan facility.
Vanadium producer Atlantic has secured a further $11.75 million in unsecured funding from its biggest shareholder, Droxford International, the latest in a series of cash injections to sustain its working capital.
Battling vanadium miner Atlantic has secured an additional $20 million in high interest debt to fund continued development at its Windimurra mine in the Mid West.
