Announcement Date: 2022-10-24
Announcement Type: Scoping Study
Announcement Code: JORC
Company name: Toro Energy Ltd.
Project name: Lake Maitland
Location: Australia
Commodities: Vanadium,Uranium
Highlight: Scoping Study result incl. Pre Tax NPV (8%) of AUD $610M & IRR of 41%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce the excellent results of its Scoping Study for the proposed stand-alone Lake Maitland Uranium-Vanadium operation, located approximately 105 km southeast of Wiluna township The Study was completed by mining engineers at SRK Consulting Australasia (SRK) and metallurgical and processing engineers at Strategic Metallurgy and highlights the project’s potential to deliver robust financial returns. Management Commentary Commenting on the outcomes of the Lake Maitland Scoping Study Toro’s Executive Chairman, Richard Homsany, said “The Board is delighted to report these outstanding Scoping Study results for the Lake Maitland deposit which further highlight the quality and global significance of Toro’s uranium assets. These strong financial estimates and outcomes, driven by modest capital and operating costs, are the culmination of many years of extensive research and development by Toro to optimise the processing flowsheet. Lake Maitland represents a significant proportion of the Wiluna Uranium Project’s resources, and these Scoping Study results clearly illustrate the transformational effect of the stand-alone Lake Maitland operation on the potential economics of the entire Wiluna Uranium Project.
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