T
- ro Energy Limited
T
- ro Energy Limited
Wiluna Uranium Project June 2010 Toro Energy is an Australian - - PowerPoint PPT Presentation
T T oro Energy Limited oro Energy Limited Wiluna Uranium Project June 2010 Toro Energy is an Australian resource Toro Energy is an Australian resource company with a multi project company with a multi project company with a multi-project
This presentation has been prepared by Toro Energy Limited (“Toro”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Toro has no reason to believe that it is not accurate, reliable or complete it has not been independently audited or verified by Toro complete, it has not been independently audited or verified by Toro. Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Toro. In particular, they speak only as of the date of this document, they assume the success of Toro’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (“Recipients”) are cautioned to not place undue reliance on such forward-looking statements place undue reliance on such forward-looking statements. Toro makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Toro and its officers, employees, related bodies corporate and agents (“Agents”) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Toro and/or any of its Agents) for any loss or damage suffered by a Recipient or other ( g g g , y g ) y g y p persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in A$ unless stated otherwise. C t t P St t t Competent Persons Statements: The information in this report that relates to Mineral Resources is based on information compiled by Mr Daniel Guibal who is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Guibal is a fulltime employee of SRK Consulting and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Guibal consents to the inclusion in this release of the matters based on his information in the form and context in which it appears. information in the form and context in which it appears. Information in this presentation relating to exploration results of the Napperby Project and Lake Mackay is based on information compiled by Dr David Rawlings BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Rawlings is a full-time employee of the Company. Dr Rawlings has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ Dr Rawlings consents to the inclusion in this release of the matters based on his information in the form and context in which it appears
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Ore Reserves . Dr Rawlings consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
Capital structure
Exchanges ASX: TOE
Shareholder profile
Share Price (June 2010) A$0.08 Options (unlisted) 21.69m Shares 964.95m Fully Diluted Market Cap A$77 2m
Oz Minerals 42.5% Minorities 57 5%
Fully Diluted Market Cap A$77.2m Cash (at March 31 2010) A$59.2m Debt Nil Enterprise Value A$18.0m
57.5%
12 Month High / Low A$0.26 / $0.08
Brief Corporate History Listed on ASX March 2006 E t d i t O ti A t N b l 2007 12 Month Share Price Graph Entered into Option Agreement on Napperby early 2007 Completed merger with Nova Energy late 2007 Completed Wiluna PFS in 2008 Rights Issue late 2008 Completed Wiluna Optimisation September 2009 Share placement to OZL and Institutions in Sept/Oct 2009 Share Purchase Plan Oct/Nov 2009
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T
Namibian Joint Venture
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Toro’s strategy encompasses both qualitative and quantitative
and quantitative targets
g ( )
3 8
y
Note: quantitative targets are aspirations for the company and do not constitute specific projections
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and supported
methodology
exerting control exerting control
utilities and majors
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reality creeping into costs – need for supportive pricing
Source: Ux Consulting
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Source: Ux Consulting
16000
Perhaps something poorly appreciated by h ff h ili i i
10000 12000 14000 O8 (tonnes) AVAILABLE MAJOR
the offshore utilities is the relatively small amount of uranium resource that is available.
2000 4000 6000 8000 Produced U3O MAJOR ALLOCATED
Most material is either fully committed or in the hands of the major companies.
2000 Y
p Toro holds a significant portion of this ‘available’ production.
Year 2,500 3,000 nnes) Toro 1,000 1,500 2,000 uced U3O8 (ton Remaining Available Production
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500 Produ Source: Public announcements and Toro estimates.
New production excluding Majors
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type mining – progressive rehabilitation – hyper-saline groundwater P i b d d
Transport road/rail shipment with export via ports of Port Adelaide and/or Darwin
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Lake Way
Centipede
category#
Mineralisation type
R i i if di i i
200ppm cut off
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100% Toro owned project
# Refer Competent Persons Statements on Page 2 and category of resources on Page 14
Resource Grade* Contained U3O8# As at June 2009 Category Mt ppm % U3O8 tonnes Mlbs Centipede Measured 0.3 588 0.059 176 0.4 p Indicated 7.7 619 0.062 4,754 10.5 Inferred 1.7 251 0.025 424 0.9 TOTAL 9.7 554 0.055 5,355 11.8 Lake Way Inferred 10.5 543 0.054 5,718 12.6 TOTAL 10.5 543 0.054 5,718 12.6
TOTAL WILUNA PROJECT 20.2 548 0.055 11,072 24.4 *200ppm cut‐off
# Refer Competent Persons Statements, Page 2
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pregnant liquor
p
3 8 q
to the mine void
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Direct precipitation of uranium from pregnant liquor
e i alent equivalent
(<1000C) M k 2 500ML
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Meteorological data collection
Vegetation, Soils
A i l S
g
survey – 0.2m contours
H d l H d l W t t
testing
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environmental management including funding of
through Central Desert Native Title Services (CDNTS) as representative body
environmental management including funding of independent advice and visits to uranium
Protocols established for heritage survey work to clear exploration drilling areas
negotiating mining agreement p g g including cultural mapping of entire project site
program initially with trial pit and g g g g environmental studies
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2009 2010 2011 2012 2013 Optimisation
Project referral Environmental Impact Assessment Metallurgical Trials
Decision to Proceed with BFS Bankable Feasibility Study (“BFS”) Indigenous Engagement Native Title Agreement Off‐take Agreements Decision to Proceed with Construct D i d C Design and Construct Commissioning & Production
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Uranium in T ertiary reduced sands and clays
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Hole LP0029 - 6m @ 216ppm U3O8 (assays) OR 4.5m @ 365ppm U3O8 (gamma)#
# Refer to the Toro ASX release “Uranium Discovery at Lake MacKay” dated 28/10/2009 for complete list of drill hole results
NAMIBIA [TOE: currently 90%]
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* Sixzone Investments Limited (Black Economic Empowerment)
7920000 mN 7925000 mN 7930000 mN 7935000 mN 7915000 mNBirrindudu Group c 1650
GORDON DOWNS
Brown's Brown's Brown's Brown's Brown's Brown's Brown's Brown's Brown's Range Range Range Range Range Range Range Range Range
E 8003554 E 8003554 E 8003554 E 8003554 E 8003554 E 8003554 E 8003554 E 8003554 E 8003554 E 8003553 E 8003553 E 8003553 E 8003553 E 8003553 E 8003553 E 8003553 E 8003553 E 8003553
7895000 mN 7900000 mN 7905000 mN 7910000 mNKilli Killi Beds Brow ns Range Metamorphics
E 8003556 E 8003556 E 8003556 E 8003556 E 8003556 E 8003556 E 8003556 E 8003556 E 8003556 E 8003558 E 8003558 E 8003558 E 8003558 E 8003558 E 8003558 E 8003558 E 8003558 E 8003558 E 8003559 E 8003559 E 8003559 E 8003559 E 8003559 E 8003559 E 8003559 E 8003559 E 8003559
Dome Dome Dome Dome Dome Dome Dome Dome Dome
Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1
E 8003555 E 8003555 E 8003555 E 8003555 E 8003555 E 8003555 E 8003555 E 8003555 E 8003555 E 8003557 E 8003557 E 8003557 E 8003557 E 8003557 E 8003557 E 8003557 E 8003557 E 8003557
7885000 mN 7870000 mN 7875000 mN 7880000 mN 7890000 mNBirrindudu
STURT CREEK LEWIS CREEK
E 8003560 E 8003560 E 8003560 E 8003560 E 8003560 E 8003560 E 8003560 E 8003560 E 8003560
Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Don-U, Au (REE) Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1 Mount Mansbridge 1
Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Mount Mansbridge 2-U Oracle U O l U O l U Oracle U O l U Oracle U O l U O l U O l U Jaimani-U Jaimani-U Jaimani-U Jaimani-U Jaimani-U Jaimani-U Jaimani-U Jaimani-U Jaimani-U
7860000 mN 7850000 mN 7855000 mN 7865000 mNKilli Killi Beds
Birrindudu Group
Redcliffe Pound Group
Slatey Creek Granite
White's Beach White's Beach White's Beach White's Beach White's Beach White's Beach White's Beach White's Beach White's Beach
Oracle-U Oracle-U Oracle-U Oracle-U Oracle-U Oracle-U Oracle-U Oracle-U Oracle-U
E 8003561 E 8003561 E 8003561 E 8003561 E 8003561 E 8003561 E 8003561 E 8003561 E 8003561
completed by Cameco
7845000 mN 7825000 mN 7830000 mN 7835000 mN 7840000 mNKOOKABURRA-Au LARRANGANNI BLUFF-Au
Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U Birrindudu 2-U
targets
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7815000 mN 7820000 mNKilli Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U Killi Killi Hills-U
Birrindudu new uranium exploration province
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Managing Director
3 Boskenna Avenue NORWOOD South Australia 5067 South Australia 5067 T elephone: +61 8 8132 5600 Facsimile: +61 8 8362 6655 Email: info@toroenergy.com.au Website: www.toroenergy.com.au