TOE 0.00% 36.5¢ toro energy limited

got the uranium and 16m cash, page-4

  1. 557 Posts.
    Stellar is right in there too. Here's a bit of cut and paste from its announcements.

    'Stellar, through its two joint ventures, holds considerable exposure to uranium in South Australia.

    At the end of July 2006, Stellar announced the formation of a JV with Toro Energy Limited who occupies the adjoining tenement to jointly explore the Warrior deposit.

    The proposed joint venture provides Toro with access to a contiguous "whole of Warrior uranium project" exploration corridor while Stellar retains a significant 30% equity stake in any exploration success on its tenements, as it concentrates on its key copper and gold projects.

    Extensive development of prospective palaeochannels occurs within Stellar's other Tarcoola licenses. In order to improve the urgency and focus of the exploration effort the Company has formed a joint venture with UraniumSA Limited.

    Stellar will own 10,266,980 shares in UraniumSA Ltd., which represents more than 16.7% of that company.

    Under the terms of the JV, UraniumSA has a 70% equity and Stellar 30% equity in a JORC compliant Mineral Resource of uranium, or mainly uranium, discovered by either party and Stellar is free carried by UraniumSA to the establishment of a JORC compliant Ore Reserve.'

    And if you have a good look at Stellar, you would have to say the uranium interest is just a sidelight from their main game. Worth a look anyway and share price certainly going the right way after a period of relative quiet.
 
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