Napperby falls over at last jump
NT News
Toro Energy will not exercise its option to acquire the Napperby uranium project in the Northern Territory from fellow uranium explorer Deep Yellow, as it is currently not economically viable.
At the current uranium price, the option purchase price would be about $57 million.
Toro said yesterday a scoping study and follow-up on development options had shown the economics of the project, based on long-term uranium prices, did not warrant taking up the Napperby purchase.