Toro Energy Estimates Lower Capex For Standalone Uranium-Vanadium Operation

(MT Newswires) — Toro Energy (ASX:TOE) said the scoping level capital expenditure estimate was completed for its proposed standalone Lake Maitland uranium-vanadium operation in Western Australia.

The total CAPEX was estimated at AUS$270 million ($202.5 million), lower than the previous estimate of AU$315 million, according to a Wednesday news release.

After the outstanding pit re-optimization results, the CAPEX estimate is an “excellent and economically significant” milestone towards delivering the advancement of Wiluna, said Executive Chair Richard Homsany.

Toro Energy shares closed 12% higher Wednesday.

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