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Tesoro Resources (ASX:TSO) changes El Zorro agreement to fully contributing JV
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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 ....

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