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TORO ENERGY LIMITED (TOE)


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General Information
Company Name: Toro Energy Limited
Stock Code: TOE
Website: www.toroenergy.com.au
GICS Sub-Industry: Coal & Consumable Fuels
Market Cap ($M): 73
Equiv. Shares (M): 1,042

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.071 $ 0.072 $ 0.072 $ 0.070 $ 0.074 663,850 $ -0.003  -4.054 %

Company Overview

Business Description:
Toro Energy Limited (TOE) is a uranium exploration and development company based in Australia. TOE focuses on its flagship and wholly-owned Wiluna Uranium Project located in Central Western Australia. In addition, TOE holds uranium exploration projects in Australia and Africa.

Strategy Analysis:
TOE aims to become a significant sustainable uranium mining company focusing on developing a top tier exploration and production profile in the global uranium mining sector. The company is focussed on developing the Wiluna and Theseus uranium projects in Western Australia. The company is also a significant explorer in Western Australia, the Northern Territory, South Australia and in Namibia, Africa. Toro Energy reported negative cash flow of $2.82m for quarter ended 31 December 2012. Operating cash flow for the period was $(2.85m). Payments for exploration and evaluation were $(2.28m). Investing cash flow was $23,000. Financing cash flow was nil. Cash in hand at the end of the quarter was $4.7m.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A -10.3 -1.0 -- 0.0 0.0 0.0 --
2011  A -20.6 -2.1 -- 0.0 0.0 0.0 --
2010  A -16.6 -2.0 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Aquila Resources (AQA) $889 M -- -- -- 270.0000 -- -- 0.0000 0.0000 0.0000
Energy Resources (ERA) $536 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Linc Energy (LNC) $737 M -- -- -- -- -- 239.8305 0.0000 0.0000 0.0000
Toro Energy (TOE) $77 M -- -- -- -- -- -- 0.0000 -- --
Whitehaven Coal (WHC) $2,246 M -0.3218 -- -- 21.7478 -- 235.4839 0.0137 0.0000 0.0000

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
TOE -- -- 0.76 -- --
Market 0.83 14.4 1.22 1.88 1.72
Sector 1.36 15.1 0.77 2.18 5.20

Directors
Name Position Start Date
Dr Vanessa Guthrie -- 08 February 2013
Ms Erica Smyth Non-Executive Chairman 30 October 2007
Mr Andrew Coles Non-Executive Director 14 September 2009
Mr Gregory Hall Non-Executive Director 29 March 2006
Mr Peter Robert Lester Non-Executive Director 30 October 2007

Management
Name Position
Donald Clinton Stephens Company Secretary
Todd Alder Joint Company Secretary

Substantial Shareholders
Holding Name
410,259,378 (39.37%) Oxiana Limited

Calendar of Events
Date Event
29 April 2014 Report (Quarterly)
30 January 2014 Report (Quarterly)
29 October 2013 Report (Quarterly)
25 October 2013 Report (Annual)
26 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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