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Toro Energy ( (AU:TOE) ) has provided an update.
Toro Energy has agreed to be acquired by Canada- and US-listed IsoEnergy under a scheme of arrangement that will see IsoEnergy acquire 100% of Toro’s shares, giving Toro investors 0.036 IsoEnergy shares per Toro share. The deal values Toro at A$0.584 per share, a premium of nearly 80% to its last traded price before the announcement, and will leave Toro shareholders with about 7.1% of the enlarged uranium group, which combines Toro’s Wiluna Uranium Project with IsoEnergy’s Athabasca Basin assets, past-producing US mines and broader exploration portfolio. The transaction is expected to provide Toro investors with exposure to a larger, more diversified uranium producer in tier-one jurisdictions, greater access to capital, and improved liquidity, while Toro continues technical work, including pilot plant design and remodelling of the Lake Maitland geometallurgical block model ahead of a core drilling program that will further refine its resource base.
The most recent analyst rating on (AU:TOE) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Toro Energy stock, see the AU:TOE Stock Forecast page.
More about Toro Energy
Toro Energy Ltd is an Australian uranium company focused on exploration and development, with its flagship Wiluna Uranium Project in Western Australia. The company’s asset base includes scoping-stage projects and prospective deposits such as Lake Maitland, Lake Way and Centipede-Millipede, and it is advancing geometallurgical modelling and pilot plant planning to support potential future mining and processing operations.
Average Trading Volume: 549,536
Technical Sentiment Signal: Buy
Current Market Cap: A$68.56M
Learn more about TOE stock on TipRanks’ Stock Analysis page.