www.toroenergy.com.au
Toro Energy (ASX: TOE) is well placed to operate one of the first new Western Australian uranium mines. The company is also an explorer in Western Australia, the Northern Territory, South Australia and in the African country of Namibia.
The Wiluna Project is at an advanced stage in government assessment and approval, with Toro planning to commit to construction late next year for first production in 2013. 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 (U3O8) in the current project approved.
Toro Energy director increases direct stake in the company
Toro Energy (ASX: TOE) non-executive director Peter Lester has acquired further shares in an on-market purchase, boosting his direct stake in the company.
Lester bought 60,000 shares on-market for a consideration of A$4,866, providing an average entry price of $0.08.
The purchase upped his stake to 60,000 ordinary shares and 1 million unlisted options.
Toro Energy is currently in a very interesting position, continuing to intersect high grade uranium mineralised zones at the wholly owned Theseus uranium project in Western Australia.
The mineralised zone at the Theseus Project palaeochannel system is now confirmed over a minimum strike length of 8 kilometres, and averages 500 metres wide, varying in thickness from 1 metre to 9 metres.
Recent results at the project point to a large uranium mineralised system.
