Toro Energy Limited (Stock Symbols – ASX: TOE, OTCMKTS: TOEYF) engages in the exploration and development of uranium properties in Australia.
The Flagship Wiluna Uranium Project in Western Australia
Its flagship project is the Wiluna Uranium Project located in the central Western Australia.
The Wiluna Uranium Project Consists of Multiple Deposits
The Wiluna Uranium Project consists of the Centipede, Millipede, and Lake Maitland uranium deposits. These deposits are located about 30 kilometers south of the town of Wiluna in Western Australia’s northern goldfields.
The Wiluna region is a historic mining area that was first developed in the late 1800s. Wiluna is well known for its nickel and gold deposits, which have led to the creation of high-quality infrastructure. The area has a rich history of mining and continues to be an important source of minerals for the world.
The Wiluna Uranium Project has federal and state government environmental approvals to mine uranium at the Centipede, Lake Way, Millipede and Lake Maitland deposits. This means that the construction of a processing facility and all mine and processing related infrastructure, tailings storage facilities and finished product transport to port are approved.
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.
Toro Energy Limited
60 Havelock St
Western Australia 6005
Phone: (08) 9214 2100
Fax: (08) 9226 2958
Email: [email protected]
Toro Energy Limited Stock Performance & Market Cap
Stock Symbols – ASX: TOE, OTCMKTS: TOEYF
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Don’t forget to take a look at these uranium stocks to include in your portfolio.
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