Greg Hall, Toro Energy’s managing director, said:

“We are well advanced with our planning for Wiluna with a resource upgrade and optimisation study recently completed. Work on the Bankable Feasibility Study (BFS) to confirm the detailed design of the project and preferred treatment process has now commenced.

“As previously announced, key project personnel are in place, with further recruitment underway.

“While firmer capital cost estimates are subject to the BFS, the optimisation study demonstrated a robust project, with significant reductions in capital and operating cost estimates and enhancements in grade and production capacity.

“Our preferred process route currently is an alkaline heap leach operation based on open pit mining of the shallow mineralisation, at an annual rate of approximately 1.6 million tonnes, generating an average 730 tonnes p.a. of uranium oxide.”