Mining firm Atlantic (ASX: ATI), based in Perth, has admitted on Thursday there are delays in reviving its Windimurra vanadium mine in Western Australia. To address the delay, the firm will resume trading after a self-imposed trading halt.

Atlantic seeks to raise $25 million from the public offer of 21 million shares at $1.20, per share which the miner will use to finance improvements and modifications that could speed the mine's 18-month timetable to reach full capacity.

The firm completed the buy-in of the Windimurra mine from Mineral Resources in 2010 after it went into receivership.

Vanadium is a hard, silvery gray, ductile and malleable transition metal. The metal is mostly used as an alloy called ferrovanadium as an additive to improve steel. Vanadium peritoxide is used as a catalyst for production of sulfuric acid.

JP Morgan Australia is the only lead manager for the fund raising. The 12.1 million shares placement has been fully subscribed. Another 8.7 million shares were subscribed by investors directly with Atlantic.