Toro cranks up WA uranium, vanadium resource

The West Australian09-24

Toro Energy has cranked up the resource estimate at its Lake Maitland deposit near Wiluna in Western Australia, revealing a 12 per cent rise in uranium and a 74 per cent jump in vanadium, after ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToro cranks up WA uranium, vanadium resource\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-24 06:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/business/bulls-n-bears/toro-cranks-up-wa-uranium-vanadium-resource-c-16164045><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Toro Energy has cranked up the resource estimate at its Lake Maitland deposit near Wiluna in Western Australia, revealing a 12 per cent rise in uranium and a 74 per cent jump in vanadium, after ...</p>\n\n<a href=\"https://thewest.com.au/business/bulls-n-bears/toro-cranks-up-wa-uranium-vanadium-resource-c-16164045\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TTC","symbol_name":"托罗配件","start_time":0,"source_url":"https://thewest.com.au/business/bulls-n-bears/toro-cranks-up-wa-uranium-vanadium-resource-c-16164045","article_id":"2469431837","we_media_id":null,"thumbnails":["https://images.thewest.com.au/publication/C-16164045/9d384d251b8a26f5855627a4c724370ad5a5a276.jpg"],"rights":{"source":"thewest_stock","url":"https://thewest.com.au/business/bulls-n-bears/toro-cranks-up-wa-uranium-vanadium-resource-c-16164045","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2469431837","pubTimestamp":1727128975,"sourceInfo":{"source_id":"thewest_stock","name":"The West Australian"},"weMediaInfo":null,"summary":"Toro Energy has revealed resource rises of 12 per cent for uranium and 74 per cent for vanadium at its Lake Maitland deposit in WA after lowering its cut-off grades to tap into improving market conditions.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"TTC":"托罗配件","LU1543694498.USD":"法巴水资源基金RH MD Dis","LU1165135440.EUR":"BNP Paribas Aqua Classic Cap EUR","BK4152":"农用农业机械","NPV":"弗吉尼亚纽文市保","IRR":"ING Risk Managed Natural Resourc"},"translate_title":"托罗启动西澳铀、钒资源","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IRR":1,"NPV":1,"TTC":1},"content_text":"Toro Energy has cranked up the resource estimate at its Lake Maitland deposit near Wiluna in Western Australia, revealing a 12 per cent rise in uranium and a 74 per cent jump in vanadium, after lowering the cut-off grade to 100 parts per million to better align with its peers.Management says the move was made the tap into a “rapidly-improving” market that was driving up the economic potential at its project for both commodities.The re-estimation of the deposit, which is part of the bigger Wiluna uranium project, has delivered an increased total inventory of 29.6 million pounds (Mlbs) of uranium at a grade of 403ppm and 31.4Mlbs of vanadium running at 285ppm. The news also gave the company’s shares a boost today, with the price up as much as 15 per cent to 22c on strong turnover.The overall Wiluna project has also benefitted, with the total uranium resources increasing by 17 per cent to 73.6Mlbs and vanadium stocks rising by 31 per cent to 89.3 Mlbs. In lowering the cut-off grade for uranium, the company has now aligned Lake Maitland with its other Wiluna deposits – Centipede-Millipede and Lake Way.Driven by strengthening uranium market conditions, we are very pleased to provide this significant expansion to the Lake Maitland and Wiluna resource bases, utilising a lower cut-off grade. From a benchmarking perspective, the lower cut-off grade permits better comparison with Toro’s industry peers, many of whom also state uranium resources at a 100ppm U3O8 cut-off. Toro Energy executive chairman Richard HomsanyThe company says it will now continue to review the most financially feasible model for the Wiluna project, in lockstep with the current regulatory conditions that are blocking uranium development in WA, in the hope of an eventual change in political direction in relation to the heavy metal.Notwithstanding calls from Federal Liberal leader Peter Dutton to overturn the State’s long-standing ban on uranium mining, WA Mines Minister David Michael has continued to reject the notion.WA has effectively barred the development of mining the clean fuel ever since Labor swept to power in 2017, citing voter approval reaffirmed from two successful election wins. Dutton has more recently departed from the Federal Government’s “no nuclear” stand to push nuclear power as a centrepiece of the Coalition’s energy policy.However, as the timeframe continues to stretch for finding alternative clean power sources in sufficient capacity to replace fossil fuels, any change in government after a Federal general election next year could rapidly find domestic uranium mining hopefuls back in the saddle.In preparation for a possible u-turn in policy, Toro has been busying itself by completing the finalised design of a pilot plant, with improved hydrometallurgical circuits it hopes will be able to better beneficiate the ore at site.Additionally, a recent scoping study outlined strong numbers for the project, were it to be developed. With a net present value (NPV) of $832 million and an internal rate of return (IRR) of 48 per cent, the development would deliver a total EBITDA of $2.3 billion across 17 years with a modest up-front cost of $203 million.The Wiluna uranium-vanadium deposits are shallow, groundwater-associated formations, similar to bigger deposits such as the 139Mlbs Yeelirrie deposit owned by Canadian-based uranium giant Cameco Corporation. Such deposits are hosted in sedimentary layers formed within ancient drainage systems or paleochannels, with grades linked to groundwater levels rather than specific rock types.The primary ore mineral is carnotite, which forms in near-surface zones and is not dependent on geological structures, making the shallow depth from the surface a key economic factor.With $12 million in the bank, Toro is well funded to reach its next milestones. And any change in government policy in the next 12 months would have a huge economic impact on the project, so investors are likely to be keeping a close eye on the politics of the day.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2469431837"}