Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Tesoro Gold ( (AU:TSO) ) has issued an announcement.
Tesoro Gold has completed an unmarketable parcel share sale facility designed to help small shareholders exit their positions without brokerage or handling costs that could make selling uneconomic. The move also streamlines the company’s share register and is expected to reduce ongoing administrative and operating expenses, modestly improving efficiency for the Chile-focused gold explorer.
Under the facility, 88,779 fully paid ordinary shares held by 512 shareholders were sold at $0.9414 per share, a price set at or above the 10-day volume-weighted average prior to acceptance of purchase offers. Sale proceeds will be distributed to participating investors as soon as practicable, with the company urging remaining shareholders to update their bank details with its registry to facilitate payments and future transactions.
The most recent analyst rating on (AU:TSO) stock is a Sell with a A$0.80 price target. To see the full list of analyst forecasts on Tesoro Gold stock, see the AU:TSO Stock Forecast page.
More about Tesoro Gold
Tesoro Gold is an Australian-listed gold exploration and development company focused on Chile’s Coastal Cordillera region, where it has discovered and defined the first Intrusive Related Gold System in the country. Its flagship asset is the district-scale El Zorro Gold Project, including the 1.82-million-ounce Ternera discovery, held through a 95%-owned Chilean subsidiary that owns 95.4% of the project in a region hosting multiple world-class copper and gold mines.
Average Trading Volume: 301,644
Technical Sentiment Signal: Buy
Current Market Cap: A$156.5M
Find detailed analytics on TSO stock on TipRanks’ Stock Analysis page.