HIGHLIGHTS
1. The Office of the WA Environmental Protection Authority (OEPA) accepted Toro’s Response to Submissions document following the 12 week public comment period for the Public Environmental Review (PER) for an extension to the Wiluna Uranium Project.
2. The Chairman of the Environmental Protection Authority of Western Australia (EPA), Dr Tom Hatton, fellow Board member Glen McLeod, and assessing officers from the OEPA visited the Wiluna Project site on 3 June.
3. A mining agreement with the Wiluna People has been ratified by a community meeting, signed and has taken immediate effect.
4. Beneficiation results at Lake Maitland showed a four and a half times upgrade in the effective grade of the beneficiated concentrate to 9,968 ppm. Beneficiation testwork program has been expanded to a scoping study level.
5. Both spot and long-term uranium price declined over the quarter and closed at US$27.00/lb and US$38.00/lb respectively.
6. Cash balance at end of the quarter was $10.4M.
7. H2 2016 cash receipts from R&D tax incentive refunds and non-core asset sales estimated to be in excess of $2.5M.
8. Vanessa Guthrie was appointed Chair of the Minerals Council of Australia.
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