PERTH (miningweekly.com) – ASX-listed Toro Energy on Thursday told shareholders that it would be undertaking further studies at its Wiluna uranium project, in Western Australia, to both evaluate and improve the project value.
Toro earlier this week revealed the potential to recover vanadium as a by-product of processing uranium from the Lake Maitland project, within the greater Wiluna project, with only a marginal increase to the capital and operating costs of the proposed processing plant.
The company said that some 499 t/y of vanadium could be produced at Wiluna, along with the more than two-million pounds of uranium oxide, with operating costs only increasing by 1.8% at the plant, while capital costs at the plant would only increase by some 6.5%, or A$5.7-million, from the A$87.9-million anticipated in the scoping study.
Toro on Thursday said that the company would now initiate further study to consider the cost associated with Lake Maitland, such as mining and non-process infrastructure. This further study would assist in determining the overall capital and operating costs for Lake Maitland.
The company told shareholder that it would continue to find value and opportunities in the Wiluna project in order to maintain the project as an early mover for a returning uranium market and price.