Ann: Quarterly Activities and Cashflow Report, page-2

6|P a g e
Strategic Focus
Toro 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. As previously advised, the date
for the substantial commencement condition contained in the State environmental approval for the Wiluna
Uranium Project, granted pursuant to Ministerial Statement 1051 (MS 1051), has passed. Toro considers, and
has sought advice to confirm, that the environmental approval granted by MS 1051 will remain valid
notwithstanding that substantial commencement did not occur by the date specified in MS 1051, and that it
will be open to the Company to apply under the Environmental Protection Act 1986(WA) for an extension of
time for that condition at a later time during the life of the approval. It is also envisaged that favourable results
from the studies detailed in this announcement may also necessitate an amendment to the proposal the
subject of each environmental approval received.
,What century will you actually try to attain this instead of rehashing this info every other announcement. if you try and fail nothing much will change, if you try and succeed.everything will change.