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toro stock goes into orbit Toro stock goes into orbit

By NATHAN CROSS
28mar06
ADELAIDE-based uranium company Toro Energy continued its stellar run on the Australian Stock Exchange yesterday with its shares jumping 63 per cent.

Toro stock closed at $1.31, after opening at 84c, and climbed as high as $1.60 during the day.

The shares had more than trebled on Friday - their first day of ASX trading - and are now more than five times the issue price of 25c.

Managing director Greg Hall said yesterday the move on the share market was the result of a positive outlook for uranium.

"The main context here is the uranium price is strong and the uranium market is in a shortage of supply," he said. "Secondly, we announced at our listing we are hitting the ground running very quickly, drilling within a month.

"That is also positive in terms of Toro and the market reaction.

"We are there for the long haul and are hitting the ground running, but we still are just hitting the ground. We have a lot of work to do going forward."

Toro Energy was formed through the combining of Minotaur Exploration's and Oxiana's uranium assets to create a pure uranium explorer. Its chairman is Dr Ian Gould, a former managing director of the Normandy Mining Group.


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