Found this on the net from 23 June 2009. Maybe of interest despite being somewhat dated.
Glencore and Noble eyeing Windimurra Vanadium plant Tuesday, 23 Jun 2009
It is reported that Glencore International and Noble Group are thought to head a list of 9 parties in the running to buy Windimurra Vanadium's almost completed mine and plant near Mt Magnet.
Mr Brian McMaster of WVL receiver KordaMentha has asked parties to submit final binding offers by the middle of next month. He confirmed the timetable had slipped because of unexpected high interest in the project, with 55 parties having been through the WVL data room.
It may be noted that WVL collapsed in February 2009 when it ran out of cash with construction of the project only 90% complete. At the time WVL said it needed another USD 80 million to tide it over until it could rely on production cash flows.
KordaMentha, which was appointed by a Merrill Lynch led group of secured creditors owed USD 201 million, is hoping to reap as much as USD 200 million from the sale of the project.
Noble, whose vanadium off take agreement with WVL is thought to remain valid, is understood to still be in the race, as is Glencore, whose associate Xstrata was once the owner of the controversial Mt Magnet project. The list is also thought to include Chinese and Indian groups, private equity houses and Russian steel giant Evraz, which owns the Highveld vanadium business in South Africa.
The outcome of the WVL auction is being watched closely by Reed Resources, whose Barrambie vanadium project is just to the north of WVL's. Reed has placed a USD 629 million capital cost on developing its project and could attract the attention of unsuccessful WVL bidders.
