Australia's Tesoro Gold gains on securing fund for Chilean gold project
17/11/2022 05:15
** Shares of Tesoro Gold Ltd TSO.AX climb as much as 8.1%
to A$0.04
** Gold miner secures A$8 mln ($5.37 mln) funding, to be
used to advance El Zorro Gold Project in Atacama region of Chile
** Says unit of South-Africa based Gold Fields Ltd GFI.J
to make investment of A$4.2 mln in a placement and
sub-underwrite up to A$3.5 mln of an entitlement offer
** Issue price of A$0.035/share represents a 5.4% discount
to TSO's last close on Nov 15
** Stock had fallen 51.3% this year, as of last close
($1 = 1.4903 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))