Toro Energy

Quarterly Activities Report For period ending 30 September 2024

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to provide the following review of activities for the three month period ended 30 September 2024.


Highlights

Wiluna Uranium Project

  • Re-estimation of the Lake Maitland uranium (as U3O8) and vanadium (as V2O5) resources completed within a lower grade U3O8 resource envelope (see details below) to allow for the resources of Lake Maitland to be stated at a 100ppm U3O8 and V2O5 cut-off grade.
    • As a result the Lake Maitland Uranium-Vanadium resource can now be stated at a 100ppm U3O8 and V2O5 cut-off grade in alignment with the other deposits of the Wiluna Uranium Project.
    • This expands the Lake Maitland stated U3O8 resource by approximately 12% or 3.2Mlbs to 29.6Mlbs contained U3O8, with a reduction in average grade to 403ppm U3O8 (at a 100ppm U3O8 cut-off).
    • The stated Lake Maitland V2O5 resource expands by approximately 74% or 13.4Mlbs to 31.4Mlbs contained V2O5, with a reduction in average grade to 285ppm V2O5 (at a 100ppm V2O5 cut-off).
    • All of the Wiluna Uranium Project resources can now be stated at a 100ppm cut-off, resulting in an approximate 17% expansion of the U3O8 resources for the Project to 73.6Mlbs from the previous 62.7Mlbs, with a reduction in average grade to 381ppm U3O8.
  • Design phase for pilot plant commissioned by Toro for the Wiluna Uranium project nearing completion, to text the improved beneficiation and hydrometallurgical circuit developed by Toro at closer to production scale.
  • Pilot plant will test potential ore from all three uranium deposits (Lake Maitland, Lake Way and Centipede-Millipede) which could potentially underpin an expanded Lake Maitland operation.
  • Integration of re-estimated Lake Maitland vanadium resource into Lake Maitland uranium resource block model commenced after the end of the quarter, which is the start of preparations for a new scoping study update for a stand-alone uranium-vanadium mining and processing operation at Lake Maitland.

Corporate

  • Cash and liquid financial assets valued at approximately $11.2 million as at the quarter end.

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 87.8 Mt grading 381ppm U3O8 for 73.6 Mlbs of contained U3O8 at a 100ppm 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 141.8Mt grading 286ppm V2O5 for 89.3Mlbs of contained V2O5 at a 100ppm V2O5 cut-off (inside the U3O8 resource envelope) 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.

Thor Energy (ASX:THR)

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium and Critical Minerals Production

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).

Keep reading...Show less
Saga Metals (TSXV:SAGA)

Saga Metals


Keep reading...Show less
Swedish flag with a yellow cross on a blue background, waving in the clear sky.

Sweden Moves to Lift Uranium Mining Ban Through Legislative Proposal

Sweden has announced plans to lift its seven-year ban on uranium mining, with a proposal to amend the Environmental Code and Minerals Act expected in parliament later this year. If approved, the changes would take effect on January 1, 2026.

The proposal follows the conclusions of a government inquiry completed in December 2024, which recommended that uranium be treated under the same legal framework as other concession minerals.

That recommendation was reviewed by the Council on Legislation in June 2025, clearing the way for parliament to consider a repeal.

Keep reading...Show less
Basin Energy Managing Director Pete Moorhouse.

Basin Energy Shifts Focus to Uranium Assets with District-scale Potential in Queensland

Basin Energy’s (ASX:BSN) recent acquisition of a significant landholding in the Mount Isa region of Northwest Queensland has propelled the company into Australia's uranium and rare earths exploration landscape, giving investors exposure to a cost-effective, district-scale opportunity, according to the company’s managing director, Pete Moorhouse.

“The Queensland opportunity provides direct exposure for district-scale wins from first-pass drilling with reverse circulation and aircore, so this is relatively cheap drilling on district-scale opportunities. Northwest Queensland, from the jurisdiction (perspective), is a real prime opportunity for critical minerals,” said Moorhouse.

The Basin Energy executive also noted that there are significant government initiatives in place at both the federal and state level to support the region’s growth, as well as recent M&A activity in the uranium space.

Keep reading...Show less
Basin Energy Logo

Basin Energy


Keep reading...Show less
Nuclear reactors with upward trending graph overlay.

Cameco, Kazatomprom Production Cuts Stoke Uranium Market Tightness

Shares of Cameco (TSX:CCO,NYSE:CCJ) were on the rise after the uranium major announced it is reducing its annual production guidance due to expansion delays at the McArthur mine in Saskatchewan, Canada.

Instead of the projected 18 million pounds of U3O8 the company was aiming for from its McArthur River joint venture with Orano, the revised output tally reduces 2025’s production total to between 14 million and 15 million pounds.

In January, Cameco warned that delays at McArthur River — including slower-than-expected ground freezing, development setbacks and labor constraints — could affect its 2025 production outlook.

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

×