MXR has significant tenement positions around the Windimurra...

MXR has significant tenement positions around the Windimurra Vanadium project, this news today increases Maximus's value in owning the large and highly prospective Windimurra tenemnets, (base metals, gold, uranium etc, see the last quarterly report for maps/figures, locations of etc).

FMS will also be pleased with the deal Atlantic has as FMS bought the massive magnetite rights off Maximus. It's also interesting that Atlantic are reporting 1m tonnes per annum of hematite as a by- product of the Vanadium processing. The Windimurra Vandium project was previously owned by WVL before their revenue/funding difficulties.

"5 August 2010
ATLANTIC TO ACQUIRE 90% INTEREST IN WINDIMURRA VANADIUM PROJECT
Highlights
Atlantic now to acquire 90% interest in Windimurra vanadium project
Revised terms deliver significant project and economic benefits to Atlantic
Amended transaction terms streamline project management and operation
Shareholder meeting scheduled for 6 August to be adjourned until 13 August
Atlantic Ltd (ASX: ATI; Atlantic) is pleased to announce the signing of a binding term sheet to restructure the transaction with Mineral Resources Limited (MRL) to acquire the Windimurra vanadium project (Project).
In April 2010, Atlantic announced that a consortium of Atlantic and MRL had agreed to work together to acquire an effective 90% equity interest in Midwest Vanadium Pty Ltd (MVPL), the company that holds 100% of the Project.
Under the terms of the revised agreement, Atlantic will acquire the full effective 90% equity interest in MVPL and MVPL will also acquire the existing beneficiation plant at Windimurra owned and operated by MRL.
This revised agreement represents a superior transaction outcome for Atlantic whilst for MRL it fast tracks repayment of its existing unsecured debt position with MVPL.
Atlantic Managing Director Michael Minosora said he was pleased that Atlantic and MRL had agreed to restructure the Project acquisition agreements.
We believe that the Windimurra project is a high quality project that can now deliver improved returns for Atlantics shareholders and for our funding providers as well as be a major contributor to theWA and the Mt Magnet communities, said Mr Minosora....".....