Toro Energy's (ASX: TOE) market value has risen 47.9% since early September in a banner time for the company since granted environmental approval for its Wiluna Uranium Project by Western Australian Minister for Environment Bill Marmion.
The company's shares hit an intra-day high of A$0.105 today, compared to the $0.071 the company was trading at in early September.
Around 5.7 million shares changed hands today alone, the highest amount in one day since the announcement.
The Wiluna Uranium Project comprises two uranium resource deposits near Wiluna in Western Australia, which currently has no operating uranium mines.
The project would process 1.3 million tonnes per annum of ore to produce about 820 tonnes of uranium oxide concentrate, with first sales targeted for the 2014-15 financial year.
The Wiluna Project is the first uranium project to be approved in Western Australia since the change in uranium policy by the State Government in 2008.
The Australian Government is taking measures to increase uranium exports out of the country.
Prime Minister Julia Gillard is currently in India negotiating a safeguard agreement to allow sales to India.
The civil nuclear co-operation agreement, which could take one to years to finalise, is expected to pave the way for commercial negotiations on uranium exports.
Uranium demand is expected to increase as global nuclear power capacity grows at a reported rate of 30% to 100% by 2030.
Electricity generation in Asia is expected to triple in the next 20 years.
Uranium demand is expected to double over the next two decades, with supplies set to fall short in the near future.
The supply gap is estimated at around 30 million pounds by 2014 as a result of delays on several projects, diminishing supplies and the ending of the HEU agreement between Russia and the U.S. in 2014.
Since the tsunami induced nuclear accident in Japan, most key countries, including India, have re-affirmed their commitment to nuclear power after undertaking "stress tests" for their particular location.
China, India, South Korea and Russia account for 70% of new plants coming on stream.
Currently there are 432 operable nuclear power stations, 63 under construction, 150 firmly planned and over 300 conceptual.
Toro may be the first post-ban uranium miner in Western Australia to market with the next uranium mine in Australia to begin production.
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