Toro Energy Takes Stake In Nowthanna Uranium Project

Published on Tuesday July 19 2011

Toro Energy has increased its mid-west Western Australian uranium resource base by 25 per cent, with the acquisition of a large stake in another resource project.

The company has bought a 70 per cent stake in the Nowthanna uranium project, which lies 150 kilometres west of its Wiluna uranium mine.

It plans to start production at the Wiluna project by late 2013.

Toro's Managing Director, Greg Hall, says the purchase reinforces the company's position as a major player in the region.

"We think it's a good acquisition in difficult market times," he said.

"We certainly believe that by picking up these regional plays we are enhancing the potential value to our shareholders going forward, these sort of regional plays do take a lot more work but certainly it's giving us a much larger footprint."

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