Toro Energy Limited

Toro Energy Limited (ASX:TOE) (PINK:TOEYF) has executed a Definitive Agreement with U3O8 Limited (ASX:UTO) to acquire 100% of the Dawson-Hinkler Well Uranium Project near Wiluna in Western Australia for a consideration of A$6.2 million.

Australia has the potential to be the world's largest uranium producer within a decade, according to one of the sector's most active project developers. Addressing the Company's 2010 annual general meeting in Adelaide today, Toro Energy Limited's (ASX:TOE) (PINK:TOEYF) Managing Director, Mr Greg Hall, said the firming by equities markets in recent days of uranium stocks "came as no surprise to the industry".

Toro Energy Limited (ASX:TOE) (PINK:TOEYF) has executed a Memorandum of Understanding with U3O8 Limited (ASX:UTO) to acquire for A$6.2 million, 100% of the Dawson-Hinkler Well Uranium Project near Wiluna in Western Australia.

The Environmental Protection Authority of Western Australia (EPA) has approved the Environmental Scoping Document (ESD) for Toro Energy Limited's (ASX:TOE) (PINK:TOEYF) 100%-owned Wiluna Uranium Project.

Australia has a key place in meeting a potential shortfall in primary uranium supply and its related contribution as one emerging global energy solution. This role will involve both expanding existing mines and discovering and developing new ones - provided the price is right, according to Toro Energy Limited (ASX:TOE).

ADX Energy Limited (ASX:ADX) (PINK:ADXRF) are pleased to provide an update in relation to the proposed divestment and Initial Public Offering "IPO" of the Company's mineral assets portfolio. This strategy is in-line with the previously stated intention of ADX becoming a highly focused energy company while ensuring that the necessary capital is secured to finance the exploration and development of its highly promising gold and base metals tenements.

Toro Energy Limited (ASX:TOE) (PINK:TOEYF) has completed the extraction of a bulk mineralised sample from a Resource Test Pit at its 100% owned Wiluna Uranium Project.

The Australian market fell for an eighth straight session on Thursday and closed at its lowest level in 11 months. The market opened lower after Wall Street fell on disappointing employment data in the US. Sentiment was dented further as a fall in China's purchasing managers' index for June raised concerns of a slowdown in Chinese economy. At the close, the benchmark S&P/ASX200 index slashed 64 points, or 1.49 per cent, at 4237.5 points. The broader All Ordinaries index was down 62.1 points, or 1.44 per cent, at 4262.7.

Toro Energy Ltd (ASX:TOE) says it is commencing its first round of offtake agreement negotiations with international buyers for uranium oxide product from its Wiluna project in Western Australia, which is expected to see a maiden production from early 2013.

Wall Street closed in negative territory on Friday despite a survey showed that US consumer sentiment rose to its strongest level in three months. But the Dow still surged 164 points, or 1.74 per cent, with four days rally in the week.