Toro Energy (ASX: TOE) has initiated the integration of vanadium into its Lake Maitland uranium resource block model, preparing for a scoping study update to re-optimize the mining pit. This integration aims to potentially increase mining volumes and production for a stand-alone uranium-vanadium operation. The updated scoping study, expected by year-end, will reflect the new resource estimates and optimize production schedules. Toro anticipates improved project outcomes, including a pre-tax NPV8 of AU$832.8 Million, 48% IRR, and total EBITDA of AU$2.3 Billion.
The mine is expected to produce 22.8 Milllion lbs of U3O8 and 11.9 Million lbs of V2O5 over 17.5 years, with low operating costs of US$17.28/lb U3O8 for the initial high-grade phase. Toro emphasizes the strategic relevance of uranium, especially given the global shift towards nuclear energy by companies like Microsoft and Amazon. The company is confident in its funding and expects this phase to unlock further value for shareholders.
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