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Wiluna uranium project, Australia

6th February 2015

  

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Name and Location
Wiluna uranium project, Australia.

Client
Toro Energy.

Project Description
The Wiluna uranium project is situated 30 km south of Wiluna, in Western Australia.

The mine will produce about two-million tons of ore and about 1 200 t/y of uranium oxide over a 14-year life-of-mine. Ore will be sourced from the Centipede and Lake Way deposits, an estimated 550 km from Kalgoorlie.

Selective mining will occur within a series of shallow openpits, which will be progressively rehabilitated after the pits have been used as tailings impoundment facilities or for waste-rock disposal.

To support the project, Toro will establish accommodation for the workforce, a water-supply borefield, based on a local underground aquifer, and up to 12 MW of on-site gas-fired power generation.

Value
The total estimated capital cost of A$280-million has been downgraded to an estimated A$207-million.

Duration
The project is expected to start production in 2014/15.

Latest Developments
The Foreign Investment Review Board (FIRB) has approved a A$10-million investment in the Wiluna project.

In November 2014, Toro executed a binding unitisation agreement with investor The Sentient Group, which will subscribe for 125-million shares in Toro, at a price of 8c each.

The investor also agreed, in principle, to an additional A$10-million project level investment to enhance and optimise the process design, project configuration, and operating and capital cost structure of the Wiluna project.

The Sentient transaction was expected to be settled following a shareholders meeting on December 22, 2014.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Toro Energy, tel +618 8132 5600, fax +618 8362 6655 or email info@toroenergy.com.au.

Edited by Creamer Media Reporter

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