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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	TOE
Latest Price:	0.08 (2.44% )
52-week High:	0.15
52-week Low:	0.07
Market Cap:	81.94M

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Toro Energy Full Toro Energy profile here

Toro Energy (ASX: TOE) is a uranium explorer operating in Western Australia, the Northern Territory, South Australia and in the African country of Namibia.

The company’s Western Australian Wiluna Project is at an advanced stage in government assessment and approval. The project hosts two shallow, generally less than 10m deep, calcrete deposits with a Measured, Indicated and Inferred resource of 24.4Mlbs of contained uranium

Toro Energy completes $21.09 million Share Purchase Plan

Friday, November 20, 2009

Emerging uranium exploration and development company Toro Energy (ASX: TOE) has wrapped up a Share Purchase Plan to raise $21.09 million as part of a strategy to advance its West Australian-based projects.

In a statement, the South Australian-based company raised $21.09 Million at $0.15 per share and determined that no scaleback will be applied to acceptances.

The successful SPP follows the recent share placements to institutional and sophisticated investors, along with the company’s major shareholder OZ Minerals.

Company secretary Donald Stephens said funds raised from the share placement and recent capital raising initiative brought the total amount of funding to about $61 million.

The funds will be applied to the Bankable Feasibility Study and approvals for Toro’s 100% owned Wiluna Uranium Project in Western Australia; exploration initiatives, including the recent discovery at Lake MacKay; and strategic, corporate and project consolidation opportunities.

Mr Stephens said Toro was now in an excellent position to take the Wiluna Uranium Project forward to an anticipated development decision in late 2011.

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