Tesoro Gold Ltd
Tesoro Gold holds a 95.4% interest in the ~570 km2 El Zorro gold project in northern Chile. A 2025 Scoping Study on the Ternera deposit outlined a 13-year, 110,000+ oz/year operation (total resource 1.82 million oz, with 1.18 million oz within a US$3,000/oz pit shell), reporting a post-tax NPV of US$663 million and 51% IRR at US$2,750/oz gold. The company bypassed a traditional PFS stage and is fast-tracking directly to a Definitive Feasibility Study, targeted for completion by late 2026.
Lifecycle Milestones
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Managing Director of Tesoro Gold Ltd. Geologist with 25+ years from exploration to production; former Managing Director of ASX-listed Metallum Ltd (Chile).
Executive Director – Mining & Development at Tesoro Gold Ltd. 35+ years of mining operations/corporate management experience across Australia, Africa and the Americas; senior roles at IAMGOLD, Aurion Gold, Delta Gold and Pancontinental Mining.
Chief Financial Officer of Tesoro Gold Ltd. Chartered Accountant with 15+ years of financial management experience at ASX/AIM-listed companies (Inca Minerals, Norwest Energy, Paringa Resources, Chariot Oil & Gas).
Chief Development Officer of Tesoro Gold Ltd. Mining engineer with 30+ years of mine development/operations experience globally; senior roles at Rio Alto, Rio2 and Marathon Gold.
Country Manager, Chile for Tesoro Gold Ltd. 14 years in the resources sector including FMG Pilbara operations; previously Commercial Manager at Metallum Chile and General Manager at Acorn Mining Chile.
Company Secretary of Tesoro Gold Ltd. 15+ years of governance/administration experience at ASX-listed resources companies; former Company Secretary of Mader Group and Austin Engineering.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Global gold miner Gold Fields is Tesoro Gold's largest shareholder at nearly 13%, alongside a sizeable stake held by fund manager Collins St Asset Management. In December 2025, one insider-linked holder (Aigle Royal Consolidated) bought AU$377,000 of stock on the market the same month another executive sold shares.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.
Tesoro Gold's updated Ternera Phase 1 Scoping Study for the El Zorro Gold Project, Atacama, Chile (ASX announcement, 11 Sep 2025): Ternera deposit pit-constrained Mineral Resource of ~1.82 Moz gold (unconstrained ~2.0 Moz). Base case at US$2,750/oz gold: post-tax NPV of US$663M, 51% IRR, ~US$248M initial capex, 20-month payback, 15-year mine life, ~111,000 oz/yr average production in the first nine years, 1.26 Moz total LOM production. Upside case at US$3,000/oz: pre-tax NPV7.5% of US$1,331M, 79% IRR. Project-level (100%) figures; Tesoro holds a 95.4% interest. NOTE: source ASX PDF is image-scanned and could not be text-extracted directly; figures corroborated via Smallcaps.com.au and Kalkine's contemporaneous, directly-quoted reporting of the same announcement.