Uranium miner waiting to see impact of stock fall
A uranium mining company says the sharemarket uncertainty could affect future investment in exploration in the Northern Territory.
Toro Energy says it’s not feeling the impact of the current crisis as a company because the price for uranium is holding firm and it has money for current projects.
But the company’s managing director Greg Hall says it may affect future exploration in the region.
“If it extends for a longer period of time and therefore impacts on your ability to raise new capital, that’s when it could have an impact.
“But a longer period of time is usually a two year sort of time frame at least, so the sharemarket can impact on the raising of funds.
“But if people have funds in place and are developing or exploring then the sharemarket itself doesn’t have an impact, it’s only the commodity price that can start to have an impact.”