Toro Energy Limited: Energy Advances the Wiluna (WA) Project
28.11.2012 | ABN Newswire
09:42 AEST Nov 28, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.Adelaide, Australia (ABN Newswire) - In October 2012 Toro Energy's (ASX:TOE) Wiluna Uranium Project, which comprises the Centipede and Lake Way deposits, was granted WA Ministerial environmental approval, paving the way to potentially become the first uranium mine in WA.
The process engineering phase of the Definitive Feasibility Study (DFS) is complete and has demonstrated viable processing plant design. Detailed engineering design, infrastructure and cost estimates will commence once the only remaining environmental approval by the Federal Government is complete.
An updated project economic model has been completed, based on the process engineering from the DFS, pilot plant testwork and revised mine plan. This indicates a reduced capital cost estimate of $207 million in direct costs, $31 million in EPCM and $31 million in contingency for a total of $269M. C1 cash operating costs are currently estimated at US$37/lb U3O8.
Toro's total regional uranium resources across all categories (Measured, Indicated and Inferred) reported under the JORC Code is 54 mlbs in five deposits with significant upside in currently held but under-developed exploration tenements.
For the full announcement, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TOE-709101.pdf
About Toro Energy Limited:
Toro Energy is a modern Australian uranium company with progressive project development, acquisition and growth. The company is based in Adelaide, South Australia with a project office in Perth, Western Australia.
Toro’s flagship and wholly-owned Wiluna uranium project (includes existing mining lease) is 30 kilometres southeast of Wiluna in Central Western Australia.
Wiluna contains two shallow calcrete deposits, Lake Way and Centipede, with prefeasibility and optimisation studies completed and a definitive feasibility study underway. Toro has advanced the Approvals process with an anticipated date of mid-2012, construction through 2013 and first uranium sales in 2014.
Toro has a new uranium project at Theseus in Western Australia, and owns uranium assets in Northern Territory, South Australia and in Namibia, Africa.
Contact:
Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au