Australia's Toro Energy surges after "massive" sulphide nickel discovery

Toro Energy

09/08/2022 04:35

** Shares of nickel and uranium exploration company Toro
Energy  TOE.AX  rise as much as 13.3% to A$0.017, highest since
June 29
    ** Co says it has discovered a fourth accumulation of
"massive" nickel sulphides within its Dusty nickel project in
Western Australia  urn:newsml:reuters.com:*:nASX4BLvbq
    ** Stock posts its biggest intra-day percentage gain since
July 28
    ** Says its discovery intersection, named "Dimma", lies
within the same stratigraphic location as co's other three
discoveries, Dusty, Houli Dooley and Jumping Jack to the north 
    ** Says drill rig will remain in place at project and co
will steepen the drilling angle to test for nickel sulphides 20
to 30 metres downdip of the Dimma intersection
    ** Stock down 31.8% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))