Antinuclear

Another annual loss for uranium explorer Toro Energy

the result included a $13.95 million non-cash impairment resulting from decisions to cease exploration activities over 16 tenements……..

Toro posts $16m loss, writes down $13m, Sydney Morning Herald, September 16, 2010 Uranium explorer Toro Energy Ltd has reported a full year net loss, but says it is making progress to start construction of its Wiluna mine in WA in 2012.

Toro posted a net loss of $16.61 million for the 12 months to June 30, recovering from a $69.72 million loss in the prior year.

Toro said the result included a $13.95 million non-cash impairment resulting from decisions to cease exploration activities over 16 tenements……..

Despite a challenging environment, Toro continued to progress towards being one of Australia’s next generation of uranium developers and producers,” the company said in its report on Thursday.

Toro said it had significant progress in securing government approvals for its Wiluna Project in Western Australia with the public release of the environmental scoping document.

“At the Wiluna Project in WA, Toro continued its planning and development of a uranium mine, associated processing plant and support infrastructure.

“The group’s objective is to secure all government approvals necessary to enable construction of the project to begin in 2012.”

Toro posts $16m loss, writes down $13m

September 23, 2010 - Posted by Christina Macpherson | business, uranium, Western Australia | antinuclear, Australia, nuclear costs, uranium