(a bit of a) Summary, page-83

@Green Bull Thoughts on comparison between LCL and TSO now that TSO have released their maiden resource estimate?

Tesoro's maiden Ternera gold deposit estimate doesn't impress tradersHAVING started work in 2017 and substantially accelerating activities 18 months ago, Tesoro has unveiled an initial 660,000 ounce resource at Ternera on its El Zorro ground in Chile, with the deposit grading 0.8 grams per tonne gold.
The resource was based on 148 diamond holes (totalling 46,937m), with Tesoro having drilled 201 holes in total and six rigs continuing to work 24/7.A third party has previously estimated Tesoro's all-in drilling costs (including assays) at about circa A$170/m.The deposit includes 15.4 million tonnes grading 1.1gpt for 540,000oz using a 0.5gpt cut-off, inside the headline resource of 25.1Mt that used an 0.3gpt cut-off.While the market will be keen to see some potential mining economics, Tesoro indicated it was focused on upgrading and adding additional resources at Ternera and other prospects at El Zorro.The company had $13.7 million cash at the end of June.
Shares in Tesoro slumped 35% to 10c in early trade, capitalising the company at $55.5 million.A $21 million equity raising unveiled late last year priced new shares at 27c each.