Toro shaves $33m off WA uranium project

A further study to enhance the economics of Toro Energy's Wiluna uranium project in Western Australia has shaved 17 per cent off the capital cost to $162 million.

The Adelaide-based company today released result of its optimisation study on the uranium project, which could be in production as early as 2012.

The study found that upfront capital costs can be reduced from the previously estimated $195 million to $162 million, while operating costs can be cut by 28 per cent to $A39.70 per pound of uranium oxide.

The study found that an alkaline heap leach option with direct precipitation is the preferred project development route going into the bankable feasibility study, due to start next quarter along with the formal approvals process.

The mine has a 10 year life and is estimated to produce 731 tonnes or 1.6 million pounds of uranium oxide annually, up from the previous figure of 680t.

Shares in Toro climbed one cent to 19.5c at 11:29 AEST.