Toro Energy Limited · ASX:TOE
Toro Energy — The Watchlist investor webinar - New Energy Focus (January 2024)
31 slides from Toro Energy's conference presentation, Jan 16, 2024
Slide 1: ASX Release: Investor Webinar Presentation
AUSTRALIA’S URANIUM ASX Release ASX: TOE 16 January 2024 INVESTOR WEBINAR PRESENTATION Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce its participation in The Watchlist investor webinar, to be held Tuesday 16 January 2024 at 11am AWST / 2pm AEDT. Executive Chairman R
Slide 2: Corporate Presentation
Toro Energy Ltd AUSTRALIA’S URANIUM ASX:TOE Corporate Presentation Watchlist Webinar - New Energy Focus 16 January 2024 Toro Energy Limited (ASX:TOE)
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Toro Energy Limited (“Toro”). The information contained in this access to additional information or correcting any error or omission which may become apparent after presentation is a professional opinion only and is given in good faith. Certain infor
Slide 4: About Toro
About Toro Toro is committed to building an energy metals business with the flagship Wiluna Uranium Project as the centrepiece. Wiluna Uranium Project (100%) Dusty Nickel Project (100%) Uranium Exploration Projects (100%) Located 30km to the south of the town of Located some 50kmE of Wiluna in W
Slide 5: Corporate Snapshot
Corporate Snapshot Share Price Market Capitalisation Experienced Board and Management A$0.55 A$53.1m Richard Homsany 52 week high $0.018, low $0.008 Executive Chairman An officer of Mega Uranium (TSE:MGA), director of various ASX & TSXV companies. Experienced corporate lawyer and Certified Practisin
Slide 6: Investment Highlights
Investment Highlights Significant Uranium and Wiluna Uranium Project Dusty Nickel Project Vanadium Inventory Studies Continue Drilling 4 Nickel Massive/Semi-Massive 90.9Mlbs U3O8 / 62.7Mlbs U3O8 NPV8 A$610m (pre-tax) JORC Resource across various projects / Wiluna Scoping study for the Lake Maitland
Slide 7: Uranium Sector Overview
Uranium Sector Overview Favourable market fundamentals Uranium Prices Have Renewed Momentum as Supply Risks Mount Major economies like China, India, Japan, Europe, Concerns that existing capacity isn’t enough to meet incentivise enough production increases in the near and the United States embra
Slide 8: Uranium Sector Overview
Uranium Sector Overview The current market Uranium Prices Have Renewed Momentum as Supply Risks Mount Increasing Demand Production and Supply Net-zero Carbon Targets Uranium Production by Country SOURCE: World Nuclear Association as of August 2023 Kazakhstan 43.00% Canada 15.00% Namibia 11.00% Austr
Slide 9: Wiluna Uranium Project
Wiluna Uranium Project 62.7Mlb U3O8 Overview Key Characteristics Resources Located 30km to the south of the town of Wiluna in Approvals Federal & tate government measured and Western Australia’s northern goldfields. environmental approvals received 2017 Indicated supporting The Project consists
Slide 10: Lake Maitland Pit Optimisation
Lake Maitland Pit Optimisation Additional US560,000,000 approx. in Results showed huge expansion of the pit and potential gross product value created increase in potential uranium ore is (US$70/lb U3O8 US$5.67/lb V2O5 US$:A$0.70 exchange rate) transformational for the value of Toro’s Wiluna assets N
Slide 11: Wiluna Uranium Project: Lake Maitland scoping study result
Wiluna Uranium Project Lake Maitland scoping study result Scoping Study for a stand-alone Lake Maitland Uranium-Vanadium Operation completed in late October 2022 (SRK Consulting Australasia & Strategic Metallurgy). The scoping study was completed for Lake Maitland as a stand-alone operation, and des
Slide 12: Lake Maitland Scoping Study Results
Wiluna Uranium Project Lake Maitland scoping study result Scoping Study Scoping Study for a stand-alone Lake Maitland Uranium- Vanadium Operation completed in late October 2022 Lake Maitland Scoping Study Results (SRK Consulting Australasia & Strategic Metallurgy) NPV A$610m (pre-tax) CAPEX A$270m (
Slide 13: U3O8 Price and exchange rate impacts on NPV
Wiluna Uranium Project U3O8 Price and exchange rate impacts on Lake Maitland Uranium Project NPV U 3 O8 NPV A$:US$ US$/lb (Pre-tax) Scenario 1 (Base Case) $70 0.70 $609.6M Scenario 2 $70 0.65 $676.6M Scenario 3 $65 0.70 $506.5M Scenario 4 $65 0.65 $570.6M Scenario 5 $60 0.70 $423.2M Scenario 6 $60 0
Slide 14: Lake Maitland Deposit Scoping Study
Lake Maitland Deposit Scoping Study Strong Results Low operating cost estimates Mining and Production C1 Cash operating cost of US$15.84/lb Mine life of approximately 17.5 years U3O8 over the first 7 years Low average strip ratio of 1.17 C1 Cash operating cost of US$23.10/lb U3O8 over Life o
Slide 15: Vanadium integrated into Lake Maitland U3O8 resource
Lake Maitland Deposit Scoping Study Vanadium (as V2O5) successfully integrated into the Lake Maitland U3O8 resource Vanadium (as V2O5) successfully integrated into the Lake Maitland U3O8 resource. Re-optimisation of the proposed Lake Maitland open cut uranium mine has been completed and takes in
Slide 16: Significant Process Improvements
Significant Process Improvements Geology re-interpretation, Economic Significance Lake Maitland Lithology- Proportion of Main Lithologies of the Wiluna Project- Resource Proportion of High Grade Ore (Mlbs U3O8 - 500 ppm cut-off) (>500 ppm U3O8) All Clay and/or fine- grained sediments 13.0% 12.0% com
Slide 17: Beneficiation Circuit
Scoping Study Beneficiation Circuit BENEFICIATION IS KEY TO NEW PROCESS FLOWSHEET – HIGHLY EFFICIENT ON CLAY ORES Run of >500μm Low grade, Scrubbing Screening mine ore Coarse ore <500μm Low grade, De-slime Slime waste KEY BENEFITS: Conventional equipment Wash water, No comminution circuit Proces
Slide 18: Improved Processing Flowsheet
Improved Processing Flowsheet New flowsheet benefits from beneficiation, filtration and ion exchange Old Flowsheet New Flowsheet Run of Run of Comminution Beneficiation Slimes Waste mine Ore mine Ore Coarse Ore Stockpile Na2CO3 Na2CO3 Leach Leach NaHCO3 NaHCO3 Site Uranium Tailings Uranium Tailings
Slide 19: Summary of Process Improvements
Summary of Process Improvements Significant &continuous improvements to the overall process from: Lower Costs Beneficiation Produces high grade concentrate. Low grade coarse ore available for future Reduced CAPEX processing. Smaller processing plant and De-slime works on all samples, allows
Slide 20: Dusty Nickel Project
Dusty Nickel Project Over 15km strike length of komatiite-ultramafic target rock for massive nickel sulphides The Dusty Nickel Project is located on the DUSTY northern, eastern and southern shores of HOULI DOOLEY Lake Maitland and the Lake Maitland JUMPING JACK Uranium Deposit. DIMMA Magnetic Komati
Slide 21: Dusty Nickel Discoveries
Dusty Nickel Discoveries 50kmE of world class Mt Keith nickel deposit 15km NE of Bronzewing Gold Mine. Blind discovery of massive & semi-massive nickel sulphides at base of a 7.5km unbroken length of previously unknown komatiite (Dusty komatiite) – arguably the 1st massive nickel sulphides discovere
Slide 22: Dusty Nickel Discoveries
Dusty Nickel Discoveries 1 Dusty Massive and/or semi massive nickel sulphides with up to 9.0m at 2.07% Ni from 250.9m including 2.0m at 4.01% Ni, 0.27% Cu, 0.13% Co and 0.388 g/t Pt + Pd from 250.9m; and 2.0m at 3.85% Ni, 0.41% Cu, 0.13% Co and 0.45 g/t Pt+Pd from 255.5m. 2.6m @ 3.45% Ni, 0.18%
Slide 23: Dusty Nickel Discoveries
Dusty Nickel Discoveries 4 Dimma Results to date indicate Dimma is a continuous lens of massive Ni-sulphide mineralisation at least 160m in down-dip length and open at depth. TED41 - 4.31m of massive Ni-sulphides, grading 1.16% Ni 0.29% copper (Cu), 0.386 g/t Pt+Pd from 243.33m downhole. TED42
Slide 24: Yandal Gold and Base Metal Project
Yandal Gold and Base Metal Project Located in close proximity to quality mines and deposits The Yandal Gold and Base Metal Project is located only 20km NE of the world class Bronzewing Gold Mine and the Mt McClure, Bronzewing and Sundowner group gold deposits. It is a unique exploration opportunity
Slide 25: Opportunities and economic upside
Opportunities and economic upside Lake Maitland Uranium Project Increased mine life, production and revenue Increase to the overall V2O5 Resource Proposed production schedule does not include any Mineral Resources from Toro’s With the inherent relationship between uranium and vanadium in the pot
Slide 26: In Conclusion - Near-term Catalysts
IN CONCLUSION - Near-term Catalysts Wiluna optimisation opportunities Continue to advance optimisation opportunities across the whole Wiluna Uranium Project. Maximise financial and technical feasibility (Lake Maitland Extension) Significant optionality to maximise financial and technical feasibility
Slide 27: Appendices
Appendices 26
Slide 28: Wiluna Uranium Project Resources Table (JORC 2012)
Appendix 1 Resources Wiluna Uranium Project Resources Table (JORC 2012) at 200 ppm cutoffs inside U3O8 resource envelopes for each deposit – Proposed Mine Only Measured Indicated Inferred Total U3O8 V 2 O5 U3O8 V 2 O5 U3O8 V 2 O5 U 3 O8 V 2 O5 Centipede / Millipede Ore Mt 4.9 - 12.1 - 2.7 53.6 19.7
Slide 29: Competent Persons' Statements
Appendix 2 Competent Persons’ Statements Geology and Exploration The information in this document that relates to geology and exploration was authorised by Dr Greg Shirtliff, who is a full- time employee of Toro Energy Limited. Dr Shirtliff is a Member of the Australian Institute of Mining and Metal
Slide 30: References
Appendix 3 References Echo Resources Limited ASX release 22 August 2017. Phillips, G. N, and Anand, R. R. (2000) Importance of the Yandal greenstone belt, In Yandal Greenstone Belt Regolith, Geology and Mineralisation, (eds) Phillips, G. N, and Anand, R. R., CRC for Landscape Evolution and Mineral E
Slide 31: toroenergy.com.au
CLEAN ENERGY FOR A GROWING WORLD Toro Energy Limited 60 HavelockStreet West Perth, 6005 toroenergy.com.au Western Australia Telephone: +61 8 9214 2100 info@toroenergy.com.au
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