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Here s why the Tesoro (ASX:TSO) share price is flying 9% higher today

Here’s why the Tesoro (ASX:TSO) share price is flying 9% higher today Shares in the mining company entered a trading halt today before being reinstated. Here are the details Nikhil Gangaram is currently studying dentistry, however, his first love is the stockmarket which he believes to be the greatest wealth generator in the world. Nikhil has extensive experience in financial markets with a background in economics and having worked as an Australian equities trader for a proprietary firm. His investment philosophy has developed from being a short-term speculator to building long-term and sustainable portfolio returns. Nikhil hopes to help readers become better investors by focusing on stock selection and risk management.

Here s why the Tesoro Resources (ASX:TSO) share price is tumbling 31% today

The Tesoro Resources Ltd(ASX: TSO) share price is tumbling today, down 31% in late morning trade having earlier posted losses of 35%. Below we take a look at the ASX gold share’s resource update that looks to be driving some of the selling action. What resource update did Tesoro report? The Tesoro Resources share price is falling hard after the company announced its maiden Mineral Resource Estimate (MRE) for the Ternera Deposit at its El Zorro Gold Project in Chile. It reported a maiden MRE of 25.1 million tonnes at 0.8 grams per tonne for 660,000 ounces of gold. It used 0.3 grams per tonne of gold as a cut-off.

Tesoro Resources (ASX:TSO) receives further results from Ternera

Tesoro Resources (ASX:TSO) receives further results from Ternera
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Tesoro Resources (ASX:TSO) changes El Zorro agreement to fully contributing JV

Tesoro Resources (ASX:TSO) changes El Zorro agreement to fully contributing JV SubscribeBe the first with the news that moves the market Tesoro Resources (TSO) has changed the terms and structure of its acquisition of the El Zorro Gold Project to now be a fully contributing joint venture (JV) Through a purchase option agreement, Tesoro s 95-per-cent-owned Chilean subsidiary holds 70 per cent of the Chile-based project However, this agreement has been terminated to remove timing risks on Tesoro s milestone targets due to the project s ongoing expansion This means shareholders can contribute to the JV s capital requirements, and, if they don t, their ownership will be diluted

Tesoro Resources (ASX:TSO) spends Dec quarter at Chilean project

Tesoro Resources (ASX:TSO) spends Dec. quarter at Chilean project SubscribeBe the first with the news that moves the market Tesoro Resources (TSO) spent the December quarter focused on its El Zorro Gold Project in Chile During the quarter, 26 holes were drilled at the Ternera Deposit with aims of outlining gold resources at the project In late December, a result of 5.09g/t gold was intersected and it confirms the continuity of mineralisation at Ternera over a 500-metre strike length Gradient array induced polarisation (GAIP) surveying was undertaken and results indicate induced polarisation (IP) surveying is effective in targeting high-grade gold-bearing structures

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