Toro Energy

Quarterly Activities and Cashflow Report December 2023

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to provide the following review of activities for the three month period ended 31 December 2023.


Highlights

Wiluna Uranium Project

  • Significant progress made on Lake Maitland Uranium Project Extension Study, which involves evaluating the potential incorporation of material from Toro’s 100% owned Lake Way and Centipede-Millipede uranium deposits into a proposed processing operation at Lake Maitland.
  • Strong potential exists to increase production at Lake Maitland with additional uranium resources from Lake Way and Centipede-Millipede. The study will evaluate whether this extends the potential processing of high-grade uranium resource well beyond the 7th year - a stand-alone Lake Maitland operation is expected to process 7 years of high grade material.
  • The Extension Study includes a pit optimisation of Lake Way and Centipede-Millipede to determine economic cut-off grades based on latest long-term prices, exchange rates, operating costs & processing recoveries. Lake Maitland pit optimisation successfully increased potential production by 8Mlbs U3O8 and 11.9Mlbs V2O5 based on the price assumptions set out in the Lake Maitland stand-alone scoping study.
  • Refresh and update of Lake Maitland Scoping Study, completed in 2022, commenced to evaluate financial outcomes using the latest more favourable commodity pricing and exchange rate guidance. The pit optimisation will also be assessed again.
  • Cash and liquid financial assets valued at approximately $15 million as at 31 January 2024.

Corporate

  • Fifty for one capital consolidation completed in December 2023 following shareholder approval at the Company’s 2023 Annual General Meeting.
  • Two successful capital raisings completed:
    • In September 2023, prior to completion of the above capital consolidation, an A$4,224,100 placement (before costs) by the issue of 422,410,000 fully paid ordinary shares at an issue price of $0.01 per Share to institutional, sophisticated and professional investors together with one (1) free attaching listed option exercisable at $0.015 on or before 23 October 2023 for every two (2) shares subscribed for and issued.
    • After the end of the quarter in January 2024, on a post consolidation basis, an A$12.3 million placement (before costs) comprising the issue of approximately 23 million new fully-paid ordinary shares in the capital of the Company.
URANIUM PORTFOLIO SUMMARY
 

Wiluna Uranium Project, Western Australia

 

Toro’s 100%-owned Wiluna Uranium Project is located near Wiluna on the Goldfields Highway, some 750km NE of Perth in Western Australia.

The Wiluna Project consists of the Lake Maitland, Lake Way, and Centipede- Millipede Deposits (see Figure 1). Together, these deposits of the Wiluna Uranium Project contain some 52 Mt grading 548ppm U3O8 for 62.7 Mlbs of contained U3O8 at a 200ppm U3O8 cut-off (JORC 2012 – refer to ASX announcements of 15 October 2015, 1 February 2016, 21 October 2019 and 30 November 2021).

This is in addition to the vanadium resource of 96.3Mt grading 322ppm V2O5 for 68.3Mlbs of contained V2O5 at a 200ppm V2O5 cut-off as referred to above (JORC2012 – Inferred – refer to the Company’s ASX announcement of 21 October 2019).


Click here for the full ASX Release

This article includes content from Toro Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


TOE:AU
Toro Energy

Toro Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Toro Energy (ASX:TOE)

Toro Energy


Keep reading...Show less

Uranium development and exploration in Western Australia

Updated Scoping Study Results Lake Maitland Uranium Project

Updated Scoping Study Results Lake Maitland Uranium Project

Toro Energy (TOE:AU) has announced Updated Scoping Study Results Lake Maitland Uranium Project

Download the PDF here.

Quarterly Activities and Cashflow Report March 2025

Quarterly Activities and Cashflow Report March 2025

Toro Energy (TOE:AU) has announced Quarterly Activities and Cashflow Report March 2025

Download the PDF here.

Lake Maitland pit re-optimisation complete

Lake Maitland pit re-optimisation complete

Toro Energy (TOE:AU) has announced Lake Maitland pit re-optimisation complete

Download the PDF here.

Quarterly Activities and Cashflow Report December 2024

Quarterly Activities and Cashflow Report December 2024

Toro Energy (TOE:AU) has announced Quarterly Activities and Cashflow Report December 2024

Download the PDF here.

Company Update - Name Change to 'American Uranium Limited'

Company Update - Name Change to 'American Uranium Limited'

GTI Energy (GTR:AU) has announced Company Update - Name Change to 'American Uranium Limited'

Download the PDF here.

Terra Clean Energy President and CEO Greg Cameron.

Terra Clean Energy Ramps Up Summer Drilling Plans, Eyes Resource Update

Terra Clean Energy (CSE:TCEC,OTCQB:TCEFF,FWB:C9O0) President and CEO Greg Cameron outlines the company's upcoming summer drill program at the South Falcon East uranium project, building on strong results from a winter campaign at the Fraser Lakes B deposit.

“The plan is to get up to 2,500 meters back into this new area of interest. Hopefully drill into what we're defining as an unconformity basement-hosted uranium deposit with significantly higher grade than we currently have,” he said.

“We would have the ability to update that resource report in some fashion, maybe early 2026 or mid-2026, so those are the two key catalysts. But it's all about drilling and adding pounds to the current resource and, more importantly, significantly enhancing that grade which we think we have," Cameron added.

Keep reading...Show less
Placement Shares Issued & Drilling Approval Expected August

Placement Shares Issued & Drilling Approval Expected August

GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected August

Download the PDF here.

Yellow uranium rock on dark stones with ASX logo in the corner.

Top 3 ASX Uranium Stocks of 2025

Uranium broke out in 2024, with the spot price rising to a 17 year high of US$106 per pound early in the year. Despite a pullback to about US$78, uranium is still more than 40 percent higher than it was two years ago.

Although the market is dealing with ample supply and uncertain demand in 2025, experts are predicting a bright future as countries around the world pursue energy security goals.

Against that backdrop, ASX-listed uranium companies have been making moves in 2025.

Keep reading...Show less
North Shore Uranium (TSXV:NSU)

North Shore Uranium Engages Investing News Network

North Shore Uranium Ltd. (TSX-V:NSU) ("North Shore" or the "Company") is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the "INN Agreement") with Dig Media Inc. dba Investing News Network ("INN").

INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. On July 4, 2025, the Company entered into the INN Agreement. The INN Agreement will be for a three-month term, with three equal payments of $2,750 that will be paid at the beginning of each month, totaling $8,250 (GST excluded). The INN Agreement will not automatically renew. INN will provide advertising to increase awareness of the Company with the first campaign commenced on July 4, 2025. INN does not provide Investor Relations or Market Making services. INN currently holds no common shares in the Company. INN and the Company are unrelated and unaffiliated entities.

Keep reading...Show less
Toro Energy

Toro Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×