Australian uranium companies further down the drain
Oz Minerals pulls out of Toro uranium JV,9 News, 19 Nov 11 OZ Minerals has pulled out of a uranium exploration joint venture with Toro Energy in South Australia, saying no economic uranium has yet been found at the Mt Woods project.
The Toro board has accepted a $3.75 million cash offer from OZ Minerals as consideration for the termination, Toro said in astatement on Friday. ”No potentially economic uranium results have been reported from the Mt Woods project,” Toro said…. Shares in Toro were down 3.41 per cent at 8.5 cents at 1540 AEDT while OZ Mineral shares were 1.89 per cent weaker, compared to losses in the broader market of about 1.8 per cent.
http://finance.ninemsn.com.au/newsbusiness/aap/8376270/oz-minerals-pulls-out-of-toro-uranium-jv
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