from the last quarterly... this engineering study should be close to completion! I don’t even want to think of what a trading halt regarding this information could do to the share price! It could literally double it by the time it opens IMO. Not only would we gain the attention of the entire current uranium bull run but also overseas investors too. The upside here is amazing! Especially considering how close we are to production compared to many of our peers who have had even better runs the past few days
Wiluna Uranium Project, Western AustraliaThe Company continues to improve the value of its Wiluna Uranium Project (Figure 4) through research, innovation and engineering opportunities. The Company’s efforts in this regard include proposed changes to the proposed processing flowsheet design which have resulted in potential improvements in the capital and operating costs of the Wiluna Uranium Project as well as a potential improvement in overall uranium recovery from the plant. The changes have resulted from the opportunities highlighted by the test work completed as part of the Beneficiation and Process Design studies (Studies) that have been ongoing since completion of the 2016 Scoping Study2.During the quarter the Company commencement a scoping level engineering study for the mining and processing of the Lake Maitland Uranium Deposit as a stand-alone project that will include the mining and processing of vanadium as a by-product of mining uranium. SRK Consulting has been engaged by the Company to carry out these works. The scoping study will include a complete engineering build and operational assessment from mining of the Lake Maitland resource through beneficiation, processing and treatment, to production of a ready to transport product for both uranium and vanadium. All stages of the operation will be costed by engineers to current prices, including all non- process related activities, in order to ascertain the current capital and operating cost of mining and processing the Lake Maitland Uranium Deposit as a stand-alone operation.The engineering will incorporate all of the changes and improvements to the processing and treatment of the potential ore from the Lake Maitland Uranium Deposit that have been proven possible by the research and development undertaken by Toro in recent years and announced to the market. This includes the most recent research demonstrating that vanadium could be successfully produced as a by-product of the leaching and treatment of the potential Lake Maitland uranium ore at a small marginal cost. Toro considers that a stand-alone Lake Maitland operation provides the Company a substantial amount of optionality with its significant uranium and vanadium resources. The successful scoping level research and improvements achieved at Lake Maitland to date also highlight opportunities within the broader Wiluna Uranium Project given the potential improved economics at Lake Maitland. The Lake Maitland studies also act as a testing ground for methods that may have the potential to be applied to the entire Wiluna Uranium Project. For further information please refer to the Company’s ASX announcements of 8 February 2021, 6 April 2021 and 15 June 2021.The Company remains focussed on the long-term feasibility of uranium production for its shareholders from the Wiluna Uranium Project, from which it is permitted to mine up to 62 million pounds of measured or indicated uranium resources (JORC 2012). Given the Lake Maitland Uranium Deposit represents a significant proportion of the Wiluna Uranium Project’s resources of both uranium and vanadium, improvements at Lake Maitland will have the greatest potential for improving the economics of the Project as a whole. Please see the Competent Person’s Statement at the end of this release for information about the reporting of the resource
TOE Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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