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TOE requirements before 9 January 22, page-4

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mirandas

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16/09/21

18:58

Post #: 56127869
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Originally posted by stu_lorimer: ↑

Hey all,

I emailed Toro a little while ago but didn't get a reply. I'm heavily invested in the uranium space and wanted to add Toro but needed clarification on the below. Unfortunately for me (good for you all) the price has been spiking. Partially thanks to a uranium newsletter that has recently recommended TOE and of course Sprott (SPUT).

I was wondering if people here had some knowledge on the Wiluna Uranium project.

Within the ASX announcements and presentations, TOE says that the project is fully permitted and essentially ready for a mine to be built.

On 9 January 2017 announcement titled "Toro secures environmental approval for Wiluna", the then Minister for Environment stated that the project has a 5 years time limit in which it must commence "substantial works".

With the 5 years concluding 9 January 2022, does Toro must undertake substantial work on the Wiluna Uranium Project. Do you know if this substantial work on the mine site has already been completed and submitted to the Minister? If they have not, then when and how do they intend to meet this requirement?

Also, within the documentation, it says that the requirement prior to undertaking the substantial works, is Toro must have submitted and received an "Approved Management Plan" as outlined at the bottom of page 2. "Extention of Wiluna Uranium Mine Project..." within the announcement on 8 ASX Released 10 July 2017 Toro Energy.

My understanding is these are the same restrictions as Vimy.

Does anyone know if the minister has given the green light on and approved their management plan for the project and if they plan to undertake the substantial works? If they don't, I belive they will potentially lose the Wiluna licensing due to the 5 year terms.

Cheers, Stuart

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TOE Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
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