Toro Energy Limited (Stock Symbols – ASX: TOE, OTCMKTS: TOEYF) engages in the exploration and development of uranium properties in Australia.
Its flagship project is the Wiluna uranium project located in the central Western Australia.
This project is located approximately just over 18 miles south of Wiluna.
Toro Energy is working to advance the development of the Wiluna uranium project including to expand upon its Joint Ore Reserves Committee (JORC) resource of approximately 80.5 million pounds of uranium.
As released publicly in 2016, the resource is broken down into 6.2 million pounds in the measured category, 60.4 million pounds in the indicated category, and another 17.4 million pounds in the indicated category.
The company plans to use open pit mining to a depth of only 50 feet to recover the uranium ore and anticipates an annual production of approximately 2 million pounds per year.
The company has secured all approvals to begin production once the price of uranium recovers.
In addition, the company is conducting exploration of the rest of its land portfolio including the wholy owned Theseus project which was initially discovered in 2009.
The Theseus project’s maiden resource is 6.9 million pounds with lots of exploration upside.
The project is located near Lake Mackay in Western Australia.
The company has many joint ventures with other companies to provide additional upside.
This includes rare earths with Northern Minerals; copper/gold with TNG Limited; and potash with Rum Jungle Resources.
The company is headquartered in West Perth, Australia.
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