TOE - Toro Energy

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The jury ist still out whether we're dealing with a change of trend or a false break. Stop Loss raised to 8.6c.



Yesterday's initial gap-up is no longer an issue; today's green candle is also a positive.
Let's see whether buying volume returns tomorrow; I give it a good chance because sector rotation could well swing Materials' way, seeing XMJ was one of today's biggest drag on the ASX Top 200.

 

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Long time no comment.
Is anyone still interested? (rhetorical Q I am keeping an eye on it. And got in early enough.)
There hasn't been any news that might explain today's "explosion", but I suppose we'll see a speeding ticket soon.

 

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putting the breakout in perspective: lt channel appears well and truly broken.

 

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... almost 2 days later, they 'fess up and call a trading halt.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01818616
let's see what impact the environmental clearances will have.

 

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This morning, PDI crowed about some gold samples in Ivory Coast. While Au grades are usually reported in ppm (parts per Million, which equals grams per metric ton), and I'm usually looking for figures from 4 upwards, PDI changed to ppb (parts per Billion!). I wonder how many casual readers would see 700+ and go "Woweee! Bonanza!".
Not only that, but in the report, PDI mention some JV with "Toro Gold" - which caused the ASX to automatically put the same news, complete with delayed Open, on TOE.
I may be wrong, but isn't Toro Gold a UK company? I always thought that was slightly different to Toro Energy, located in South Australia.

Hopefully, TOE traders/ investors aren't taking too much notice, but support TOE on its own merits. That should create a break from the current Flag pattern on the Daily chart.

 

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Since the WA State Government accepted the Federal approval, any lingering uncertainty has now been removed and Toro can proceed with the development. This is reflected in the chart. I hold.

 

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it may have taken a fair while, but it's been worth the wait
target 5c+

 

[BlindSquirrel]

This one came onto my radar today.

Whoops!

 

[Miner]

It has been a long time that I looked into Toro. Was totally surprised to see the uranium hopeful has become a gold miner.
When I saw OZL bought a chunk then only I got intrigued back on TOE. Seems lot of interesting things happening including result of a drilling pending to be announced. On my watch list now.

https://www.asx.com.au/asxpdf/20200930/pdf/44n4q7t94kfvbq.pdf - drilling finished
https://www.asx.com.au/asxpdf/20200916/pdf/44mpp1kxqjqnvv.pdf - oz minerals acquired some good chunk
https://www.asx.com.au/asxpdf/20200911/pdf/44mklk0czs69y8.pdf - mega uranium sold out uranium holding

 

[frugal.rock]

I have had TOE on a watchlist for 15 years... there still listed in Energy sector, from oil to uranium to gold... they go where the money is....

Solid 10 year chart tells the story... I lost money on it 15 years ago.
Possibly the biggest FC I ever knew...
I am not fooled by the post Corona rise...

 

[Miner]

I have had TOE on a watchlist for 15 years... there still listed in Energy sector, from oil to uranium to gold... they go where the money is....

Solid 10 year chart tells the story... I lost money on it 15 years ago.
Possibly the biggest FC I ever knew...

View attachment 112517

15 YEARS a long time for any investment excepting marriage

 

[Dona Ferentes]

likely to pop


4.5M CUMULATIVE OF MASSIVE NICKEL SULPHIDES WERE INTERSECTED FROM 250.9M DOWNHOLE WITH AN AVERAGE GRADE OF 3.91% NICKEL, 0.34% COPPER, 0.13% COBALT AND 0.45G/T PLATINUM AND PALLADIUM.

 

[bux2000]

likely to pop

And POP

bux

 

[greggles]

TOE bottomed out a couple of weeks ago at around 1.3c-1.4c and has now turned bullish again. Today it confidently smashed through 2c and hasn't looked back. It's currently trading at 2.25c.

Some encouraging news from the Dusty Nickel Project this week:

Of the 10 drill holes that have reached target depth at Dusty, all have intersected nickel sulphide mineralisation in some form, including six holes that have intersected massive or semi-massive nickel sulphide of between 0.15m to 4.5m cumulative downhole thickness (TED03, 04, 06, 07, 11 and 14).

TOE is shaping up as a stock to watch in the coming months.

 

[greggles]

TOE on the move today, up 12.5% to 3.6c. No news out today but it looks like OZL have stopped selling, so today's bounce could just indicate that supply is starting to dry up a little and that the next leg up has begun. Think we'll see TOE over 4c shortly.

 

[bux2000]

I have picked TOE for the March comp. I am having a punt on Uranium having a little flutter this month but TOE does have Nickel in the ground as well

bux

 

[debtfree]

I'll be buggered ...... the last person to tip this was @bux2000 . I'll do my best mate to lift 1st prize in the September Tipping Comp to show you were on the right track .

Bit of interest in TOE just lately with price going up along with volume and moving up faster than the XAO over the last week. Let's see if it continues.

 

[bux2000]

I'll be buggered ...... the last person to tip this was @bux2000 . I'll do my best mate to lift 1st prize in the September Tipping Comp to show you were on the right track .

And may the Force be with you my friend

bux

 

[chuckyball]

from my reading, Toro's uranium play is potentially over as they missed the cutoff to invest/commence activity at their mine. they are raising the issue with the various gov departments but some say they haven't got a chance of any restart and have permanently lost their uranium window of opportunity.
this was mentioned in their last ASX release:
"
As previously advised, the date for the substantial commencement condition contained in the State
environmental approval for the Wiluna Uranium Project, granted pursuant to Ministerial Statement
1051 (MS 1051), has passed. Toro considers, and has sought advice to confirm, that the
environmental approval granted by MS 1051 will remain valid notwithstanding that substantial
commencement did not occur by the date specified in MS 1051, and that it will be open to the Company
to apply under the Environmental Protection Act 1986 (WA) for an extension of time for that condition
at a later time during the life of the approval. It is also envisaged that favourable results from Toro’s
studies may also necessitate an amendment to the proposal the subject of each environmental
approval received.
"

I was keen on the stock until i read this.

 

[Sean K]

This Capex to build a new uranium mine seems pretty cheap. It's costing PDN, BOE and LOT about $100m just to restart an old one. It's a smaller plant, but, hmmmm