MINEPOWER RECEIVES LETTER OF INTENT FROM ATLANTIC LTD’S MVPL PTY LTD
Minepower is pleased to announce that it has received a Letter of Intent from Atlantic Ltd’s Midwest Vanadium Pty Ltd (ASX: ATIO & ATI) advising of its intention to enter into a Mining Services Contract with Minepower for the proposed Windimurra Project.
Subject to MVPL board approval and the mutual agreement of MVPL and Minepower’s terms and conditions, the formal contract for services will be for a minimum period of two years.
Minepower recently completed a civil works contract for MVPL on time and on budget and looks forward to delivering outstanding results throughout the mining operation. Under the new contract Minepower will provide various civil works, drilling, blasting and load and haul services.
Minepower’s General Manager Rob Baker said “we are thrilled to have received the letter of intent and we are looking forward to extending our relationship with Atlantic Ltd. and MVPL”
Mr Baker added “The ongoing support and commitment we have received from our team and our valued suppliers such as Redline Drill & Blast, Nash Bros, Western Plant Hire and Oztrac has allowed us to achieve this result and we thank them very much for this”
Atlantic Ltd is the 100% owner of Midwest Vanadium Pty Ltd, the Windimurra vanadium project. The Windimurra project is a world scale vanadium project that is expected to be in production in September of 2011.