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Toro Energy director increases direct stake in the company

Toro Energy (ASX: TOE) non-executive director Peter Lester has acquired further shares in an on-market purchase, boosting his direct stake in the company.

Lester bought 60,000 shares on-market for a consideration of A$4,866, providing an average entry price of $0.08.

The purchase upped his stake to 60,000 ordinary shares and 1 million unlisted options.

Toro Energy is currently in a very interesting position, continuing to intersect high grade uranium mineralised zones at the wholly owned Theseus uranium project in Western Australia.

The mineralised zone at the Theseus Project palaeochannel system is now confirmed over a minimum strike length of 8 kilometres, and averages 500 metres wide, varying in thickness from 1 metre to 9 metres.

Recent results at the project point to a large uranium mineralised system.