Windimurra Vanadium (WVL)

Shares / Stock Code

WVL

Stock Exchange / Sharemarket

ax

Windimurra Vanadium (WVL) is a mineral exploration, mining and development Company principally focused on the exploration and commercial development of its Windimurra Vanadium mine site. Windimurra Vanadium Project is the core asset of the Company, which is based on one of the world’s largest vanadium Proven Ore Reserves. WVL owns 90% of the Windimurra Vanadium Project, with remaining 10% owned by its exclusive marketing partner Noble Resources Limited, through the operating company, MidWest Vanadium Pty Ltd. Noble Resources Limited is a controlled entity of Noble Group Limited. Windimurra Vanadium listed on the Australian Stock Exchange (ASX) on 22nd December, 1988. Windimurra Vanadium mine is situated about 600 kilometers north east of Perth and 80 kilometers south east of Mt Magnet in Western Australia. Windimurra Vanadium has entered into a pay sales and marketing agreement with Noble Group for the entire Windimurra’s production. According to the conditions of the agreement, Noble will purchase the vanadium production, market development for the sales to end user companies, co-ordinate the logistics for the supply of the product to customers and assume all credit risk for the sales to customers. The Company is currently engaged in the re-development of the Windimurra mine and processing facilities. The Windimurra mine is estimated to produce around 5,700 tonnes of vanadium as ferrovanadium annually. The Company aims to become a major supplier of vanadium through this mine.

Windimurra Vanadium History

The Company listed on the ASX in December 1988 as Precious Metals Australia. Windimurra mine was discovered in the 1960s. PMA commissioned a bankable feasibility study for Windimurra mine in 1988 and entered into a joint venture with Xstrata AG to develop the mine. The construction of the Windimurra mine together with a vanadium processing plant and infrastructure were completed in 1999 at a cost of $115 million. The mine became operational in November 1999, with Xstrata operating the mine until April 2003 when it was placed on care-and-maintenance. The mine was closed in 2004. In August 2005, Precious Metals Australia regained ownership of the mine together with remaining plant and equipment, intellectual property and designs and records. PMA was renamed to Windimurra Vanadium Limited (WVL) in December 2007.