But, as he says, if Labour wins in 2025 (which he admits is likely) the uranium ban remains in place. They are firm favourites.
That would mean at least another 4yrs in limbo. Another 4yrs of capital raises & dilution.
And what if Labour win again, in 2029? Yet another 4yrs of dilution, more share consolidations, and more dilution.
Do you see now, why I am so critical of RH's decision to walk away from Mark McGowan's offer of a WA uranium Mining Permit?
None of this insane nightmare would now be happening, if RH had done his job and completed "substantial commencement". That's all he had to do as a mining boss. One task. Just get that Labour Government mining permit, before the offer expired. Colin Barnett had set it up for him. All Toro had to do was reach out and take it. He had 3 years to do it. Looking at Vimy's trajectory ($50m to $750m valuation), we would now be worth a least $750m, in my view.
RH apparently, traded plant location risk, for permitting risk. In a state which had a uranium mining ban in place, if you didn't already hold the mining permit. The mining permit he gave up.
Who does that?
TOE Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
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