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Mineral resource developer Atlantic Limited (ASX:ATI) has secured $41.7 million in new funding it plans to put to general corporate purposes and working capital for its Windimurra project in Western Australia.
The company says a capital raising will be complemented with a share purchase plan offer to existing shareholders.
Atlantic advises that its wholly owned Windimurra vanadium plant is ramping-up according to plan, following first production at the beginning of this year.
The company says it is also in talks with customers for its iron ore products and hopes to finish sales deals ahead of the first shipment of iron ore.
Atlantic booked a net loss of $11.1 million in the first half of its 2012 financial year.
