Toro Energy (ASX:TOE) to review Australian uranium assets

• A review is underway at Toro Energy’s (TOE) Australian uranium assets to add further value to its current resource base of 90.9 million pounds of contained triuranium octoxide
• Toro holds significant uranium resources inside the Wiluna Uranium Project, with 62.7 million pounds of contained triuranium octoxide in three deposits
• The review will focus on the three significant assets outside the Wiluna Uranium Project
• The company is focusing on this area to take advantage of the uranium market conditions and intellectual property held by Toro regarding metallurgical optimisation at Wiluna
• As the market opens, Toro is in the grey and trading at 2.6 cents per share

Toro Energy’s (TOE) is undertaking a review of its Australian uranium assets to look for further opportunities.

The current resource base for Australia is 90.9 million pounds of contained triuranium octoxide.

Toro holds significant uranium resources inside the Wiluna Uranium Project with 62.7
million pounds of contained triuranium octoxide in three deposits; Lake Maitland,
Lake Way and Centipede-Millipede.

Notably, at Wiluna, 96 per cent of the resources are in the measured and indicated category.

The review will focus on the three significant assets outside the Wiluna Uranium Project, called the Dawson Hinkler, Nowthanna, and Theseus deposits.

The company is focusing on this area to take advantage of the uranium market conditions and intellectual property held by Toro regarding metallurgical optimisation at Wiluna.

Commenting on the review is Chairman Richard Homsany.

“Re-engineering and scoping studies completed on the Lake Maitland operation to date have already revealed significant optimisation opportunities, and with further work, our team is confident these improvements have potential to be applied across the broader Wiluna Uranium Project,” he said.

“One such potential improvement currently being investigated is the lowering of the
optimised mining cut-offs at the Lake Maitland Deposit as a result of improved economics in the proposed new processing flow sheet, resulting in more of the resource being processed over the life of the mine, which could add considerable value.

“Our technical team has identified significant potential to grow the value in our footprint outside the existing Wiluna resource base and a key focus will be on assessing exploration potential across Toro’s entire uranium portfolio,” he concluded.

As the market opened this morning, Toro was in the grey and trading at 2.6 cents per share at 10:06 am AEDT.