(MT Newswires) — Toro Energy (ASX:TOE) said the scoping level capital expenditure estimate was completed for its proposed standalone Lake Maitland uranium-vanadium operation in Western Australia.
The total CAPEX was estimated at AUS$270 million ($202.5 million), lower than the previous estimate of AU$315 million, according to a Wednesday news release.
After the outstanding pit re-optimization results, the CAPEX estimate is an “excellent and economically significant” milestone towards delivering the advancement of Wiluna, said Executive Chair Richard Homsany.
Toro Energy shares closed 12% higher Wednesday.
Price (AUD): $0.02, Change: $0.00, Percent Change: +11.76%
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