Toro unlocking Wiluna’s value as uranium market strengthens

Toro Energy (ASX:TOE) is advancing the design phase of its beneficiation and hydrometallurgical pilot plant in line with plans to begin its operation in the second half of 2024 at the Wiluna Uranium Project in Western Australia. 

The $44.5 million market capitalisation company says the pilot plant will test the entirety of the ‘successful’ bench-scale research completed by Toro to date at a closer to production scale. 

The plant will also test all of the components of the newly proposed processing circuit that were tested successfully on an individual basis, within a production flow stream for the first time. 

The plant will be designed to go beyond the Lake Maitland stand-alone operation and assume an extended mining operation to the Lake Way and Centipede-Millipede deposits, which are prospective for uranium and vanadium mineralisation. 

In addition to potential bulk ore from Lake Maitland, the plant will test a new processing technique on potential bulk ore from Centipede-Millipede and Lake Way.

The facility will be equipped to take at least 20 dry tonnes of potential ore through 2 campaigns of testing and beneficiation circuit and 2 campaigns of testing the hydrometallurgical circuit. 

It will be constructed, commissioned and operated at Strategic Metallurgy’s facility in Perth. 

Toro will proceed to plan the drilling required to collect the bulk ore samples ready for piloting early in H2 2024, once design and construction of the plant is complete.  

The company also announces it is working to refresh and update the Lake Maitland Scoping Study to evaluate the financial outcomes using the latest more favourable commodity pricing and exchange rate guidance. 

Executive Chairman Richard Homsany says the company remains committed to “developing the asset so that it can be brought into production when government policy and uranium markets align”.

“As Toro continues to advance the Wiluna Uranium Project towards production, the potential value of the project, amidst the backdrop of a strengthening global uranium market, keeps growing. 

The Wiluna Uranium Project is an asset of global significance. 

The pilot plant is an important step towards further demonstrating the potential scale and value of this asset, and developing it to production.”

Toro Energy is a uranium developer and explorer with projects in Western Australia, although the company’s tenure is also prospective for gold and base metals. 

The company’s wholly owned Wiluna Project sits near the township of Wiluna on the Goldfields Highway some 750km northeast of Perth and comprises the Lake Maitland, Lake Way, and Centipede-Millipede deposits. 

Together, the deposit contains some 52 million tonnes (Mt) grading 548 parts per million (ppm) uranium (U3O8) for 62.7 million pounds of contained uranium at a 200ppm cut-off. 

This is in addition to a vanadium resource of 96.3Mt grading 322ppm V2O5 for 68.3Mlbs of contained V2O5 at a 200ppm V2O5 cut-off. 

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Images: Toro Energy
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.