OZ Minerals advises that it has reduced its holding in Toro Energy Limited by 10 million shares to 277.392 million leaving OZ Minerals with a 49.9% shareholding in the company. The transaction was facilitated by Taylor Collison, with the shares placed to clients at a price of $0.19 per share. OZ Minerals’ shareholding in Toro Energy increased to 51.7% as a result of the Company’s participation in a non-underwritten rights issue made by Toro in late-2008. This transaction restores OZ Minerals’ shareholding in Toro Energy to below 50% which is in line with OZ Minerals’ preferred position. OZ Minerals is pleased to continue its support of Toro Energy through a significant shareholding and board presence. The Company supports the Toro Energy board and management in their strategy to complete the Wiluna optimisation study and bring the project to a definitive feasibility study commitment decision in the third quarter of 2009, and to continue to evaluate other developable uranium projects.
