Australian news, and some related international items

Toro Energy snatches at a financial straw for Wiluna uranium mine plan


still a long way off from the $260 million they need to start the project and $260 million they need in upfront bonds for mine closure. 

Toro secures $10m in funding. Yahoo News, 24 Dec 13, Toro Energy says it has secured $10 million in new funding from a South African fund manager via an equity subscription agreement.

RealFin Capital Partners will initially invest $5 million in three tranches with the option of Guthrie poisoned-chalice-3another $5 million equity subscription before July 1 next year.

The first tranche of shares will be priced at 7.3 cents with the balance of tranches priced at a 10 per cent discount to the prevailing trading price of Toro at the time.Toro managing director Dr Vanessa Guthrie said the subscription agreement provided further funding certainty for Toro as it looked towards a busy 2014 work program……

December 24, 2013 - Posted by | business, uranium, Western Australia

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