Toro Energy (AU:TOE) has released an update.
Toro Energy has expanded its uranium and vanadium resources at the Wiluna Uranium Project, increasing the Lake Maitland uranium resource by 12% and the vanadium resource by 74% at a 100ppm cutoff. The company is nearing completion of the design phase for a pilot plant to test ore from its three deposits, potentially supporting an expanded operation at Lake Maitland. With cash reserves of $11.2 million, Toro is preparing for a new scoping study for a standalone uranium-vanadium operation.
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