Windimurra cost of production is quite different than LGO. When LGO projected costs were $15/kg Windimurra was in the $25/kg area (from LGO presentation) Now LGO has brought production cost estimates down to $12.75/kg. Even if Windimurra costs are down to $20/kg area, they are barely above breakeven with FerroV sitting at about $24/kg right now. Largo would still be very much in the black and making decent profits at current prices Maracas may very well be the only new Vanadium deposit able economically produce at the current prices.... one reason why this project will probably be sought after by one of the major players in the vanadium sector at some point.
lurk
SEVERAL hundred jobs at the Windimurra vanadium mine development in Western Australia's Mid West are being wound down after the appointment of administrators and receivers.
The mine was set to start producing ferrovanadium this year but announced at the end of last year that it needed an extra $81 million for construction labour and fixed costs.
"There are more than 400 contractors on-site, and they're being wound down and demobilised from the site because construction needs to be put on hold while this assessment occurs," administrator Darren Weaver of Ferrier Hodgson said yesterday.
"Ultimately the decision is in the hands of the receiver."
The receiver said there was Chinese