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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 marshalls four uranium projects in WA

Friday, January 29, 2010

Toro Energy (ASX: TOE) raised A$61 million through SPP & placements to fund feasibility and approvals for Wiluna uranium project (WA) during the quarter.

Environmental approvals with WA and Federal Governments have commenced for the Wiluna project. Application for environmental assessment and approval was submitted for the Wiluna Uranium Project in WA. Approval was received from WA State Government for resource test pit at Wiluna in 2010 1Q to firm up resource, trial mining technique and obtain bulk samples.

Assay results from Lake Mackay (WA) drill samples confirm a significant, grass-roots uranium discovery hosted in palaeochannel style sands over a surface width of 2.5km, at depths around 100m below surface. Correlation of assay with gamma results is continuing, in conjunction with the airborne Tempest EM data.

Initial interpretation of EM data over the Reynolds Range project indicates the presence of well defined palaeochannels and basement conductors. A 2010 drilling program is being planned.

Toro Energy acquired two additional uranium prospective exploration tenements at Wiluna in Western Australia and associated technical databases from Rhodes Resources Pty Ltd, a wholly-owned subsidiary of the Liberty Resources
Ltd.

The acquisition price of A$1.0 million was satisfied by the issuance to Liberty of 5 million ordinary Toro shares at A$0.20 per share. The acquisition covers the footprint of the “Firestrike” uranium discovery and along-strike potential extensions in the near vicinity of Toro’s nearby Wiluna Uranium Project.

It takes to four the number of uranium projects now marshalled by Toro under its uranium growth strategy in Western Australia.

At the end of the December 2009 quarter, Toro held cash and net receivables of A$61.9 million.

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