Western Australia-focused uranium developer Toro Energy has completed the re-optimisation of the potential mining pit at its Lake Maitland uranium/vanadium project, marking a key step towards the planned 2025 update to its scoping study.

The study update was initiated following a revised resource estimate in September 2024, which incorporated a vanadium pentoxide resource into the uranium oxide block model. The pit re-optimisation represents the second phase of work required for the scoping study update, with the next stage focusing on mine scheduling and material movement planning.

The revised scoping study, the first update since the original October 2022 study, integrates updated financial data, adjusted cost assumptions, and yearly inflationary increases. Engineering consultancy SRK Consulting-Australasia has been engaged to oversee all aspects of the update, including the pit re-optimisation.

Toro is considering multiple pathways for commercialising its wholly owned Wiluna project, of which Lake Maitland is a key deposit. The Wiluna project also includes the Centipede-Millipede and Lake Way deposits, located about 30 km south of Wiluna.