Toro Energy Limited

Toro Energy Limited is one of Australia’s largest (by market capitalisation) emerging uranium exploration and development companies. It has the financial and technical resources to discover and/or acquire uranium projects and bring them to production in a socially and environmentally responsible manner.

Toro Energy listed on the Australian Stock Exchange in March 2006, having raised A$18million to conduct uranium exploration on its extensive tenement holdings (26,000km2) in South Australia.  At the time of listing Toro Energy’s major shareholders were Oxiana Limited (25%) and Minotaur Exploration Limited (25%), both of whom vended tenements or uranium access rights to the new company.

Since listing, Toro Energy has acquired an option to purchase the Napperby uranium project to the north of Alice Springs and is currently undertaking a resource drilling program.  The Company has also signed an MOU to acquire uranium interests in Morocco.

In August 2007, Toro made a successful takeover bid for Nova Energy Limited.  Nova Energy’s projects include the advanced Lake Way – Centipede uranium project near Wiluna in Western Australia, and extensive tenement holdings in Western Australia, South Australia, the Northern Territory, Namibia and Guinea.

The merger of the two companies has further strengthened Toro Energy’s capacity to responsibly evaluate and develop uranium deposits in Australia.  Key aspects of the larger company include:

- A pipeline of advanced projects in Australia (Wiluna in WA, Napperby in NT and Warrior in SA);
- Significant JORC resources with production potential by 2012;
- Premium exploration tenure in Australia and Africa;
- Excellent share liquidity through free float of 490 million shares spread over predominantly Australian
shareholders;
- Strong cash position;
- Highly experienced board and management with extensive knowledge of uranium exploration, mining, marketing and community engagement; and
- Technical and financial support from the largest shareholder, OZ Minerals Limited (previously Oxiana) (46%).

 

 

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05-Aug-2008 02:02 PM