So, TSO is raising a total $7.3m, of which 90% ($6.6m) is to go to JV expenses. This means, I think, that the JV partner (now 15%) must stump up about $1.1m. I wonder how the court case will affect this. I suppose the JV (majority TSO) can decide to spend Tesoro's 6.5m and then decide what to do about the JV partner's contribution after the court decision. So exploration can continue without JV partner contribution, or a court decision. But there is an unwelcome uncertainty in all this. Just hope Chile gets its act together and resolves this quickly.
TSO Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
