Thought tonight I would attempt to write up a basic summary of TSO. I have done this on several companies that I am bullish on (refer to signature below), and I think it makes for a great starting point for potential investors in trying to get their head around the abundance of information required to research a company... I have been invested in TSO now for almost 12 months, and although I rarely appear on the threads, I monitor the threads regularly... But also, in regards to this, I tend to get headaches when reading a lot of the rubbish posts, hence, I just do a quick browse down until I see a post from respected posters whose opinion I hold in high regard (Including Karmalocust)...
Please note that this summary is only intended as the name suggests, a Summary... I have invested a lot of my hard earned money into TSO (And tooped up significantly today). I am not a professional investor, nor am I a Geologist. There is a lot of jargon to decipher, a lot of math's to calculate and just too much information causing “AnalysisParalysis”,so it is with this summary that I can hopefully have all my research here in one place under one roof, outlined in a format that I can easily follow, and in words that I can understand (and you) …
So what is TSO and what does it do?
Tesoro Resources Limited (ASX: TSO) is an Australian public company with exploration stage gold assets in Chile. Founded in 2017 by the members of the Board and Tesoro is focused on acquiring developing high grade gold assets that have potential to be district scale mining projects.
Tesoro is managed by experienced mining professionals (which I will discuss below) with strong geological and finance backgrounds as well as significant in-country expertise. Tesoro executed an earn in agreement over the El Zorro Gold Project in 2017 from a local Chilean vendor and is currently undertaking exploration programs.
Tesoro Resources is a Gold Explorer with a focus on Chile, a proven and safe mining district with a Tier-1 geological endowment.
Our El Zorro project is ideally located within region 3 of Chille, at low altitude and near the Caldera Port, an International Airport, and adjacent to a major highway. With mining the main industry in the region, there are 4 major mines within a 90 km radius of El zorro ; Montverde (61,000 tonne-per-year mine), Inca de Oro (one of the largest copper reserves in Chile and in the world having estimated reserves of 769.7 million tonnes of ore grading 0.36% copper), Candelaria (one of the largest copper reserves in Chile and in the world having estimated reserves of 600 million tonnes of ore grading 0.95% copper, 3.84 million oz of gold and 576 million oz of silver) and the Maricunga mine (currently closed due to Chilean government shutting down the water system linked to the operation over environmental concerns) ...
Chile is the worlds No 1 copper producer, with mining comprising 47% of its export revenues. As one of the most developed economies in South America, it is known well for its strong mining code and governance framework.
The Coastal Caldera, where our El Zorro Project is situates, hosts many copper and gold deposits, and region III has well established infrastructures, service providers, and an experienced mining workforce.
Tesoro Resources has a strategy of acquiring, exploring and developing gold projects within this Coastal Caldera in Chile, and through its deep in-country experience and networks, TSO has secured the rights to acquire El Zorro, a District Scale Gold Project.
The El Zorro Gold Project is Tesoro’s main focus and covers over 500km2 and is located 140km by road from the city Copiapo in Region III, northern Chile.
The project site is well supported by established infrastructure and is only 50 minutes by road from the port of Caldera and approximately 15km inland from the Pan American Highway.
The El Zorro project is 70% owned by TSO, and the company has rights to acquire up to 80% of the project through the completion of a feasibility study by 2022
Edit:
El Zorro Project location showing proximity to established infrastructure (Pic Below):
The oldest rocks in the El Zorro area are Palaeozoic sediments which have been intruded by a Jurassic diorite body of the Coastal Batholith Series which has thermally metamorphosed the sediments around the contact area.Historical mining by artisanal workers at El Zorro is limited and has largely concentrated on early stage quartz veins in and around Ternera within the El Zorro Tonalite.Since becoming involved in the project in mid-2017, Tesoro has carried out a number of exploration programs including drilling which has reported some promising results with a number of holes reporting over 100 g/m gold intercepts (See website or ANN for details)
The Ternera Prospect now has proven gold mineralisation for over 1,000m strike, 400m depth and up to 350m wide. Mineralisation remains open in all directions.
Tesoro has classified the El Zorro Gold Project as being an Intrusive Related Gold (IRG) system and has affinities to the Tintina Province in North America. Since commencing exploration Tesoro has expanded the know occurrence of gold mineralisation and host rocks outside of the Ternera Prospect and delineated multiple targets prospective for gold mineralisation.
Tesoro has an aggressive exploration and development campaign planned and is focussed on delivering a maiden resource at El Zorro.(2021).
Ok, so the above is basically from the company website and the company video which you can watch here: vimeo.com/468806742/a78a98c861 ...
So what have TSO been doing lately?
Positive drill results to date highlight the potential for significant Gold Deposit at the Ternera Gold Prospect. To date, drilling has dielianted a mineralised zone over 700 meters long, up to 600 meters wide and drilled to 300 meters depth!!
Mineralisation remains open in all directions...
Tesero is focused on moving El Zorro through to its next stage of development and as quickly as possible...
In total, Tesoro has drilled 136 diamond drill holes at El Zorro for 42,760m’s. ▪ Assays remain outstanding for 31 holes.
And, we now have Five (5) drill rigs (with the addition of 1) now on site at El Zorro drilling 24/7 to accelerate resource drilling
Infill and extensional drilling continues to demonstrate excellent continuity of gold mineralisation across the entire Ternera Deposit.
Assays have been received for six (6) infill drill holes at Ternera, with all holes returning positive gold results (Refer to Ann 29 April, 2021)
Also, on the 13 April, it was announced:
Need I say more?
Ternera: Advanced stage of exploration! 6 years of work. Phase 4 infill & extensional drilling ongoing with 5 (Five) rigs + 6 geologists onsite, drilling 24/7.
Ok, so what about the management team and Top 20 Investors?
Well, the Tp 20 shareholders own almost HALF of the company!!! (46%) ... I would be curious to see the latest Top 20 list as SOME good Gold Exploeres such as CNB update on a monthly basis...
And what about 2021 and beyong?
If I might add something, the last CR of TSO back in December was at a SP of 27 cents!!!
At even 27 cents, it should be noted that:
Post the end of the quarter, the Company announced it had received valid applications for a total of 16,836,932 new Shares from Eligible Shareholders, totalling $4,546,000 and exceeding the targeted $3,000,000.
Wow, if at 27 cents these people are seeing value, I definately see value at 17 cents (in which I topped up today very happily)
Please note that the above is VERY BASIC research and I will be looking (and publishing) into things further over the next days / weeks... I really wish these companies would provide the latest Top 20 data for further analysis!! (Hint Hint Mr Reeves)!!!
For me personally, as an investor, I really need to know the composition of the Top 20, who and who does not have the conviction to hold, and Managements composition!!
Please feel free to add to this VERY basic Summary of TSO, and I look forward to all of your positive contributions ... (And please fill in the gaps where possible)
Cheers,
Cari
TSO Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
(and you) …
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