Toro's investments, page-194

Correct. In fact, Greg made it clear to me, that unfortunately if they lose the Ministerial Approval, then they lose approval for BOTH the uranium and the vanadium by-product.

But, put aside, the approval process risk for sec, and you're still left with a management that simply doesn't believe it has an economically viable uranium project on it's hands.

I mean, just think about it...it last completed it's major scoping/engineering studies years ago, and nothing has changed. It's still doing studies, just rehashing stuff, trying shave off costs here & there, trying to include a bi-product, for extra credits etc..

Still stuck on doing scoping studies, after all this time! It hasn't even progressed it's studies to a bankable feasibility study level yet? Why?? Let alone, start development works which it could be doing in tandem with any scoping studies, or even apply for the secondary approvals required, haven't even applied.

Isn't that strange? I mean, Vimy completed a bankable study, applied for secondary approvals, got a mining contractor, started development, achieved substantial commencement works, got ministerial approval, and is now looking for utility buyers and finance partners/mergers. All done in tandem with studies that looked at cutting costs. No problems. It's management believes in the economic viability, that's the difference.

And now, after years, and years...with no bankable feasibility study, no secondary govt approvals, and no substantial commencement works, management decide to risk the whole project by taking on McGowan and the WA labour party, a party whose green city voters hate uranium. I mean, this is madness. Why would any management team actually behave like this, right??....ooohh, wait...I know....UNLESS, they never believed in the economic viability of the project to begin with. Wake up! That is what makes sense to me, by the facts that management has demonstrated. Otherwise, they must be suckers for punishment or, just enjoy watching their shareholders squirm. Doesn't make sense.

DYOR, but all I have stated above is based on observable facts. FACTS clear for anyone to see. All facts.