Toro Energy Begins Extension Study for Proposed Lake Maitland Uranium-Vanadium Operation

Toro Energy (ASX:TOE) has begun its extension study for the Lake Maitland project, according to an article published by The West Australian. The study seeks to explore the Lake Way and Centipede-Millipede deposits for uranium-vanadium ore, the article said.

The study, to be completed by mining engineers at SRK Consulting Australasia (SRK), aims to increase the value of the Lake Maitland operation which was originally pegged at an EBITDA of $101 million within a 17.5-year life of mine.

The first seven years of the proposed Lake Maitland Uranium-Vanadium operation is expected to process high-grade uranium material and the new study will look at whether this high-grade operation can extend beyond the first seven years and have a transformational effect on the value of the broader Wiluna Uranium Project, a press release issued by the company explained.

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