Shares in Toro Energy Limited
(ASX:TOE) surged on Tuesday after the uranium explorer’s flagship project scored Federal Government environmental approval.
The company’s $269 million wholly owned Wiluna uranium project in Western Australia will be the first in the state.
Toro says the completion of the environmental approvals now delivers the company regulatory certainty ahead of first production slated for the end of 2015.
The company now plans to advance commercial financing arrangements and product off-take arrangements with potential partners.
Shares in Toro Energy soared 13.04 per cent on Tuesday, ending the session at $0.13.
Toro Energy booked a net loss of $1.987 million in the first half of the 2013 financial year.
