July 31, 2014 10:05 PM ET

Metals and Mining

Company Overview of Midwest Vanadium Pty Ltd

Company Overview

Midwest Vanadium Pty Ltd. engages in the exploration, production, and processing of vanadium in Australia. Its vanadium is used to strengthen steel and titanium. Midwest Vanadium Pty Ltd. was formerly known as Windimurra Vanadium Pty Ltd. The company was incorporated in 2005 and is based in Perth, Australia. Midwest Vanadium Pty Ltd. operates as a subsidiary of Atlantic Ltd.

Level 29

Bankwest Tower

108 St Georges Terrace

Perth, WA 6000

Australia

Founded in 2005

Phone:

61 8 6141 7200

Fax:

61 8 6141 7201

Key Executives for Midwest Vanadium Pty Ltd

Midwest Vanadium Pty Ltd does not have any Key Executives recorded.

Midwest Vanadium Pty Ltd Key Developments

Vanadium Announces Sales Results for the Month of April 2014

Vanadium announced sales results for the month of April 2014. For the month, the company reported sales of 54 tonnes contained V compared to 27 tonnes contained V in the month of March 2014.

Midwest Vanadium Pty Ltd Announces Sales Results for the Month of February 2014

Midwest Vanadium Pty Ltd. announced sales results for the month of February 2014. For the month of February 2014, the company reported Vanadium sales of 24 tonnes against 43 tonnes in the previous month.

Midwest Vanadium Pty Ltd Secures New Funding Facility of $29.7 Million with Droxford International Limited

Midwest Vanadium Pty Ltd. (MVPL) has signed a new funding facility of $29.7 million with Droxford International Limited (Droxford). In addition to the new funding facility, MVPL has agreed a standstill arrangement - providing forbearance and support - with a majority of the holders of MVPL's senior secured notes. Funding Facility The $29.7 million Droxford funding facility is new secured debt with a coupon of 17% per annum, maturing on 15 August 2014. The size of the facility has been reduced slightly from the previously proposed $32.6 million to reflect the earlier than expected first progress payment under Atlantic's insurance claim. This facility will be secured pari passu with MVPL's senior secured notes, subject to certain technical indenture and related document amendments to allow the new funding facility to be secured against the assets of MVPL.

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