Toro Energy Receives $75m Takeover Bid from Canadian Uranium Miner IsoEnergy
Canadian company IsoEnergy has made a $75 million bid for Australia's Toro Energy (ASX: TOE) to strengthen its top-tier uranium portfolio.
The proposed takeover includes Toro's Wiluna uranium project in Western Australia, comprising the Centipede-Millipede, Lake Way, and Lake Maitland deposits.
- The project is in the scoping stage and is considered high-quality.
- IsoEnergy's asset line-up includes past-producing US mines and the ultra-high-grade Hurricane deposit in Canada's Athabasca Basin.
- Currently, IsoEnergy holds 6 million Toro shares, equivalent to 4% of the company.
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Author's summary: IsoEnergy bids $75m for Toro Energy.