Homsany to head Toro

The appointment of Richard Homsany as executive chairman at West Perth-based uranium hopeful Toro Energy ties up leadership changes at the company with chairman John Cahill resigning today just a month after managing director Vanessa Guthrie.

Ms Guthrie had served as managing director for four years.

Mr Homsany has been on the board of Toro since 2013 and is executive vice president of Toronto-listed Mega Uranium, which holds about 21 per cent of Toro.

He is also the chairman of Perth-based Health Insurance Fund, which trades as HIF.

Toro’s key project is a planned uranium mine near Wiluna in Western Australia, which has long been delayed due to the low uranium price.

One of the deposits that comprise the project, Lake Maitland, has had previous involvement from Mr Homsany.

It was owned by Redport, a company he chaired more than a decade ago.

Mr Homsany was then involved in negotiating a farm in and joint venture with two Japanese companies for the deposit.

Mr Cahill is planning to focus on other corporate and not for profit commitments, which include a directorship at Emeco, according to BNiQ.

He had served in the role since the departure of Fiona Harris in October 2015.

Toro’s two other current directors are Michael Marrier and Richard Patricio.

Shares in Toro Energy were up 2.4 per cent to 4.2 cents each at the time of writing.