TOE toro energy limited

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20.0¢

Toro Energy Announces Acquisition of 19.79% of Strateco Resources From the Sentient Group, page-3

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Robot42

922 Posts.

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02/11/14

20:01

Post #: 14224480
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In 2006, Strateco set up the Matoush uranium project, now considered one of the highest-grade uranium projects in the world. The Matoush project is located in the Otish Mountains, about 275 km north of Chibougamau and 210 km northeast of Mistissini (Quebec, Canada).

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and then there is this...

The Cree Nation government firmly opposes all uranium exploration, mining and waste storage in Eeyou Istchee, Cree territory in northern Quebec.

In June 2013, Quebec's environment minister refused to grant Strateco the permits it had requested to go ahead with the project.

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Seems like the endless red tape in the province may have sapped them of cash, but I'm still unsure of what Toro would want out of this. Could they be eyeing a future listing on the TSX?

And this from the marketwire release...

The common shares were acquired for a total outlay of C$1,249,339 (C$0.029 per Strateco share) via the issue of 15,977,838 new Toro shares to Sentient. The convertible note was acquired at face value of C$1,000 per note for C$14,105,000 via the issue of 180,389,298 new Toro shares to Sentient. The Loan was also acquired at face value via the issue of 38,367,096 new Toro shares to Sentient. The SeqUr common shares were acquired for a total outlay of C$85,000 (C$0.017/share) via issue of 1,087,068 new Toro shares to Sentient.

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Interested to hear peoples thoughts on this...

TOE Price at posting: 8.2¢ Sentiment: Hold Disclosure: Held
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Last 20.0¢		Change 0.005(2.56%)		Mkt cap ! $24.05M

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Toro Energy Announces Acquisition of 19.79% of Strateco Resources From the Sentient Group, page-3

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