FIRB approves Toro investment
PERTH (miningweekly.com) – The Foreign Investment Review Board (FIRB) has approved a A$10-million investment into uranium developer Toro Energy’s Wiluna project, in Western Australia.
Last month, Toro executed a binding unitisation agreement with investor The Sentient Group, which would subscribe for 125-million shares in Toro, at a price of 8c each.
The investor also agreed, in principle, to an additional A$10-million project level investment to enhance and optimise the process design, project configuration and operating and capital cost structure for the Wiluna project.
Toro said on Thursday the Sentient transaction would be settled following a shareholders meeting on December 22.
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