Toro Energy: Delivers reduced CAPEX for Lake Maitland operation

Toro Energy Delivers reduced CAPEX for Lake Maitland operation

• Toro Energy (TOE) announces a new and improved CAPEX estimate for the proposed Lake Maitland uranium-vanadium operation in WA
• The standalone operation is based on the namesake deposit which was the largest deposit planned to be mined as part of the Wiluna uranium operation several years ago
• The CAPEX has been estimated at $270 million, representing a $42 million reduction on the original estimate, and will cover the processing facility, beneficiation plant and associated infrastructure
• Lake Maitland will process 1.94 million tonnes of ore per annum and will produce 23.5 million pounds of uranium oxide and 12.2 million pounds of vanadium oxide over 17 years
• Toro shares are up 11.8 per cent to trade at 1.9 cents at 1:54 pm AEST