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PATH CLEARED: Vanessa Guthrie says the Wiluna mine will be one of the few projects capable of bringing new production to the market in the medium term. Photo: Bohdan Warchomij

Toro uranium mine finally gets federal nod

TORO Energy has secured long-awaited federal environmental approval for its flagship Wiluna uranium mine, the first of its kind in Western Australia.

Environment Minister Tony Burke announced this week he would back Toro’s $269 million project, subject to 36 strict conditions, after a “rigorous environmental assessment”.

Federal approval for the project comes six months after it was given the go-ahead by the state government.

A decision had been expected in December, having already been delayed once before but it was pushed back again for several months at the request of the minister.

Among Mr Burke’s conditions of approval are demands that Toro prevents “significant adverse impact” on groundwater-dependent flora and fauna, and ensures the site is safe and non-polluting after its closure.

Toro managing director Vanessa Guthrie said the latest approval “provides a clear pathway to complete detailed engineering design, infrastructure and cost estimates for Wiluna”.

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Toro Energy (TOE)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
182ndBass Metals69%23%
458thLion Energy0%-20%
628thToro Energy-29%-21%
643rdBuxton Resources-32%-21%
778thJupiter Energy-62%-32%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

22/12/17
$0 Issued
22/12/17
$0 Issued
13/09/16
$47k Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

105th↓Lion Energy$1.6m
106th↓Bass Metals$1.6m
107th↓Toro Energy$1.6m
108th↑Buxton Resources$1.5m
109th↑Jupiter Energy$1.5m
499 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Toro Energy

973rdRichard Homsany$44k
1382ndMichel Marier$40k
1383rdRichard Patricio$40k
Ranked by total remuneration from all listed WA companies

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