Ann: Windimurra Project and Forecast Update , page-10

All projects look good during capital raising, procurement and early construction, off take agreements get signed... Then some go pear shaped. Remember euphoria when Atlantic bought out windimurra ? Everyone threw money at it because the plant was as good as finished and production of high value vanadium AND iron ore would happen in months.. the same happened when Rod Smith got it back and PMA was the best performing stock in 2006 when share price went from cents to a few dollars and then to liquidation.

But windimurra isn't about the plant or the owner, it's about the ore body which is not world class in terms of tonnes, grade, or metallurgy. On all 3 it is junk. Jesus turned water into wine, but MM sure ain't Jesus.