Australia's Toro Energy hits 2-1/2-mnth high on Uranium production boost

Toro Energy

16/01/2024 02:40

** Shares of Toro Energy  TOE.AX  rise as much as 18.2% to
A$0.650, their highest since Nov. 1 
    ** Stock set for best day since Dec. 1 - if current gains
hold 
    ** Uranium developer and explorer says Lake Maitland pit
optimisation in Western Australia has increased potential
production by 8Mlbs U3O8 and 11.9Mlbs V2O5 based on certain
price assumptions 
    ** Says price assumptions include low operating cost
estimates with C1 cash operating cost US$23.10/lb U3O8 and AISC
of US$28.02/lb U3O8, among others 
    ** About 2.4 mln shares change hands, compared with the
30-day average volume of 284,646 
    ** Stock has risen 17% this year as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))