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- Last 2026-11-06
- A$0.74
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$133M
- EV
- A$124.1M
- Cash
- A$9.3M
- Debt
- A$0
3 newer ASX announcements not yet reflected in this valuation
- Application for quotation of securities - TSOPost Cash Checkpoint Security Event
- Quarterly Cashflow ReportLatest Four Cash Flow Reports
- Quarterly Activities ReportLatest Four Activities Reports
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Sign in or enter a guest codeAnnouncements
Latest 12 of 28All sources ▸- Quarterly Activities ReportOperations
- Quarterly Cashflow ReportResults
- Presentation - Precious Metals Summit Beaver CreekPresentation
- Notification of cessation of securities - TSOCorporate Action
- Maiden 1.28Moz Ore Reserve at Ternera - title correctionReserve Update
- Half Year Report and AccountsResults
- Upgrade to Ternera 1.8Moz Mineral ResourceResource Update
- Quarterly Activities ReportOperations
- Quarterly Cashflow ReportResults
- Application for quotation of securities - TSOCorporate Action
- Tesoro Advances El Zorro DFS and DevelopmentStudy
- Change of Director's Interest Notice x4Governance
Event calendar · next 12 months
8 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| Q4 CY2026 | DFS completion | Study | Company Guided | High | Resets capital (PFS US$276.5m, +/-25%), operating cost and schedule; the main test of the base-case economics. |
| December 2026 | EGM: placement tranche 2 and Marlin acquisition | Corporate Action | Company Guided | Medium | Approves A$7.2m of the placement and the 11.7m-share purchase of Marlin's 5%, lifting ownership to 95.4%. |
| Q1 2027 | EIA, sectorial permits and closure plan submission | Permitting | Company Guided | High | Starts the statutory review; approval timing sets the construction start. |
| Q1 2027 (company target) | Final investment decision | Financing | Company Guided | High | Requires DFS, a financing package of roughly A$410m including debt and equity, and permits; we model construction from 2028. |
| Expected 2027 | Wanaco appeal decision | Governance | Company Guided | Medium | Resolves the challenge to the 2021 capital increase that underpins 95.4% of El Zorro SCM. |
| Late January 2027 | December 2026 quarterly report | Results | Inferred | Medium | Cash after placement settlement, DFS status and extension drilling. |
| March 2027 | FY2026 annual report and resource/reserve statement | Results | Inferred | Medium | Audited cash, capitalised exploration and reserve reaffirmation. |
| Ongoing | Ternera East and Drone Hill extension drilling results | Exploration | Company Guided | Medium | Mineralisation up to 300m beyond the pit; supports the bull-case life extension. |
Executive roster
As of 2026-10-30Background checks ▸Corporate snapshot slide of the 22 September 2026 presentation lists the full board and management; checked against the 2025 annual report and the September 2026 quarterly (no changes announced to the cutoff).
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Zeffron (Zeff) Reeves | Managing Director | Chief Executive · Executive Director | 2020-01-29 | Annual Report to shareholders · Presentation - Precious Metals Summit Beaver Creek |
| Linton Putland | Executive Director - Mining and Development | Executive Director · Technical | 2021-09-14 | Annual Report to shareholders · Presentation - Precious Metals Summit Beaver Creek |
| Emma Curnow | Chief Financial Officer | Finance | 2025-07-22 | Annual Report to shareholders · Presentation - Precious Metals Summit Beaver Creek |
| Tim Williams | Chief Development Officer | Operations · Senior Management | — | Presentation - Precious Metals Summit Beaver Creek · TSO management assessment and background check (local research product) |
| Sergio Uribe | Country Manager Chile | Senior Management | — | Presentation - Precious Metals Summit Beaver Creek · TSO management assessment and background check (local research product) |
| Sarah Wilson | Company Secretary | Company Secretary | 2025-10-31 | Annual Report to shareholders · Presentation - Precious Metals Summit Beaver Creek |
devCoverage status: Complete As Disclosed
Portfolio detail
Assets
Core asset
El Zorro Gold Project (Ternera deposit)
CL
PFS Developer90.63% ownedGold
Ternera single open pit: maiden 1.28Moz Ore Reserve (Sep 2026), DFS due by end CY2026, EIA submission Q1 2027, FID targeted Q1 2027, first gold CY2029. Tesoro holds 95% of Tesoro Mining Chile (Inversiones Marlin 5% free-carried), which holds 95.4% of El Zorro SCM (Wanaco SpA 4.6%, fully diluting); effective 90.63%, rising to 95.4% if the Marlin purchase completes after the December 2026 EGM.
- Study
- PFS (Ore Reserve modifying factors)
- Post-tax NPV (study prices, attributable)
- US$900.9md
- NPV restated at our deck (attributable)
- Locked
- IRR
- 57%s
- Initial capex (100%)
- US$276.5ms
- Capital intensity
- US$3,023/(oz/yr)d
- LoM AISC
- A$2,208/ozs
- Mine life
- 13.0 yrs
Project location
Approximate location
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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$994M5% discount
IRR57%Published return
Initial capexUS$276.5MPublished capital estimate
Operating cost1,538USD/oz
NPVUS$663M7.5% discount
IRR51%Published return
Initial capexUS$248MPublished capital estimate
Operating cost1,216USD/oz
Post-tax, real, US$3,500/oz gold, 100% project basis, PFS +/-25% (financial outcomes +/-35%).
Post-tax, US$2,750/oz, scoping +/-35% (superseded).
Resources & reserves7
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 2.4 Mt | 1.24 g/t Au | Gold | 2026-08-27 |
| Mineral Resource | Indicated | 37.9 Mt | 1.13 g/t Au | Gold | 2026-08-27 |
| Mineral Resource | Inferred | 11.3 Mt | 0.98 g/t Au | Gold | 2026-08-27 |
| Mineral Resource | Total | 51.6 Mt | 1.10 g/t Au | Gold | 2026-08-27 |
| Ore Reserve | Proved | 2.8 Mt | 1.05 g/t Au | Gold | 2026-09-16 |
| Ore Reserve | Probable | 40.1 Mt | 0.92 g/t Au | Gold | 2026-09-16 |
| Ore Reserve | Total | 42.8 Mt | 0.93 g/t Au | Gold | 2026-09-16 |
Tenements3
Milestones5
- Maiden Ore Reserve declared
Achieved · High materiality
- Definitive Feasibility Study completion
Pending · High materiality
- EIA, sectorial permits and closure plan submitted
Pending · High materiality
- Final investment decision (first guided end CY2026, now Q1 2027)
Delayed · High materiality
- Target first gold
Pending · High materiality
Permits & approvals4
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Mining tenure for the reserve | Chile | Granted | — | No |
| Environmental qualification (RCA) via EIA to the SEIA | Chile (SEA, Atacama) | Required | — | Yes |
| Sectorial environmental permits (PAS) and closure plan | Chile | Required | — | Yes |
| 21MW grid connection authorisation (SUCTD) with Coordinador Electrico Nacional | Chile | Pending | — | Yes |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Expanded and upgraded open pit scoping study | Scoping Study | Superseded | 2025-09-11 | 40.7Mt at 1.02g/t, 1.26Moz recovered, US$248m upfront capital, AISC US$1,216/oz, post-tax NPV7.5 US$663m at US$2,750/oz (Indicated and Inferred). |
| PFS-level Ore Reserve modifying-factor study | PFS | Current | 2026-09-18 | Reserve-only schedule of ~1.19Moz recovered over Y2-Y16 at 3.0Mtpa; pre-production capital US$276.5m (US$52.2m vendor lease), opex US$42.77/t, AISC US$1,572/oz, post-tax NPV5 US$994m, IRR 57%, payback 17 months at US$3,500/oz. |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash fell to A$9.28m at 30 September 2026 with no debt or facilities; the A$40m placement (A$32.8m unconditional, A$7.2m subject to a December 2026 EGM) funds the DFS, permitting and drilling into 2027 but not construction, which needs roughly US$224m of cash capital plus a US$52m vendor lease after FID. VAT refunds (A$1.97m in H1 2026) partly offset spending.
Capital structure
Ownership and dilution
- Ordinary shares
- 179.7M
- Fully diluted
- 193.7M
31 Dec 2025 177,850,215 shares (post 15:1 consolidation on 1 Dec 2025) -> 9 Feb 2026 +1,153,333 on rights conversion -> 179,003,548 (AR date) -> +56,111 to 179,059,659 at 30 Jun 2026 -> 17 Jul 2026 +630,000 performance-right conversions and +46,508 share rights -> 179,736,167 at 18 Sep 2026 (Appendix 3H), unchanged to 30 Sep 2026. Pending and not yet issued at the cutoff: ~54.8m placement shares at A$0.73 (tranche 2 needs EGM approval) and ~11.7m consideration shares for the Marlin 5% interest in Tesoro Mining Chile (EGM December 2026). Fully diluted adds 12,872,762 performance rights, 1,000,000 A$0.54 options and 77,243 share rights.
Security classes4
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Ordinary fully paid shares (TSO) | Ordinary Share | 179.7M | — | — |
| Performance rights (TSOAB), milestone-vesting | Performance Right | 12.9M | — | — |
| Unlisted options exercisable at A$0.54 | Option | 1M | A$0.54 | 2028-06-25 |
| Share rights (TSOAD), salary sacrifice | Other | 77.2K | — | — |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | TY2024 (6m)A | FY2025A |
|---|---|---|---|---|
| Profit and loss | ||||
| Revenue (gold) | AUDm | 0.0 | 0.0 | |
| Site operating costs | AUDm | 0.0 | 0.0 | |
| Specific mining tax (proxy) | AUDm | 0.0 | 0.0 | |
| Corporate and other expenses (net of other income) | AUDm | 1.0 | 5.3 | |
| EBITDA | AUDm | (1.0) | (5.3) | |
| Depreciation and amortisation | AUDm | 0.0 | 0.1 | |
| EBIT | AUDm | (1.0) | (5.5) | |
| Net finance cost (negative = net income) | AUDm | (0.1) | (0.3) | |
| Income tax | AUDm | 0.0 | 0.0 | |
| NPAT (consolidated, before NCI) | AUDm | (0.9) | (5.2) | |
| Cash flow | ||||
| Operating cash flow | AUDm | (0.7) | (2.9) | |
| Sustaining capex (incl. corporate PP&E) | AUDm | 0.0 | 0.1 | |
| Growth (construction) capex | AUDm | 0.0 | 0.0 | |
| Exploration, evaluation and pre-FID study spend | AUDm | 4.9 | 13.6 | |
| Total capex | AUDm | 4.9 | 13.7 | |
| Free cash flow | AUDm | (5.6) | (16.5) | |
| Equity raised (net) | AUDm | 9.1 | 42.8 | |
| Debt drawn / (repaid) | AUDm | 0.0 | 0.0 | |
| Other (term deposits, leases, FX, closure) | AUDm | 0.0 | (8.0) | |
| Net change in cash | AUDm | 3.6 | 18.3 | |
| Balance sheet | ||||
| Cash | AUDm | 3.9 | 22.2 | |
| Debt | AUDm | 0.0 | 0.0 | |
| Net debt / (cash) | AUDm | (3.9) | (22.2) | |
| Total equity | AUDm | 46.3 | 85.8 | |
| Per share | ||||
| Shares on issue (year end, diluted from 2027) | m shares | 103.6 | 177.9 | |
| EPS | AUD/share | (0.01) | (0.03) | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (137.7) | (25.1) | |
| P / E (x, current market cap) | x | (155.0) | (27.7) | |
| FCF yield (current market cap) | % | -3.9% | -11.6% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | 4.0 | 4.2 | |
KPI history
Operating metrics · Company
| Metric | Unit | Trend | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | AUD | 22,171,000 | 14,545,000 | 15,291,208 | 9,280,000 | |
| Exploration and evaluation payments | AUD | 4,788,000 | 6,670,000 | 7,135,000 | 5,639,000 |
Operating metric source table17
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Cash and cash equivalents | Company | Dec 2024 | Point In Time | 3,856,976 AUD | Reported |
| Cash and cash equivalents | Company | Jun 2025 | Point In Time | 7,450,867 AUD | Reported |
| Cash and cash equivalents | Company | Sep 2025 | Point In Time | 3,747,000 AUD | Reported |
| Cash and cash equivalents | Company | Dec 2025 | Point In Time | 22,171,000 AUD | Reported |
| Cash and cash equivalents | Company | Mar 2026 | Point In Time | 14,545,000 AUD | Reported |
| Cash and cash equivalents | Company | Jun 2026 | Point In Time | 15,291,208 AUD | Reported |
| Cash and cash equivalents | Company | Sep 2026 | Point In Time | 9,280,000 AUD | Reported |
| Exploration and evaluation payments | Company | Dec 2025 quarter | Quarter | 4,788,000 AUD | Reported |
| Exploration and evaluation payments | Company | Mar 2026 quarter | Quarter | 6,670,000 AUD | Reported |
| Exploration and evaluation payments | Company | Jun 2026 quarter | Quarter | 7,135,000 AUD | Reported |
| Exploration and evaluation payments | Company | Sep 2026 quarter | Quarter | 5,639,000 AUD | Reported |
| Borrowings (none) | Company | Sep 2026 | Point In Time | 0 AUD | Reported |
| Design gold recovery (PFS) | El Zorro | PFS life of mine | Point In Time | 94.5 % | Reported |
| Nameplate plant throughput (PFS) | El Zorro | PFS design | Point In Time | 3 Mt/yr | Reported |
| Life-of-mine AISC (PFS) | El Zorro | PFS life of mine | Point In Time | 1,572 USD/oz | Reported |
| Operating cost per tonne (mining 23.11, processing 13.73, G&A 4.28, lease 1.63) | El Zorro | PFS life of mine | Point In Time | 42.77 USD/t | Reported |
| Scheduled gold production, PFS Year 3 | El Zorro | PFS Year 3 (first full year) | Point In Time | 111 koz | Reported |
Company guidance9
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Steady State Gold Production | el_zorro | PFS Years 3-11 | 100 | 112 koz/yr | Current |
| Low Grade Stockpile Production | el_zorro | PFS Years 12-16 | 41 | 41 koz/yr | Current |
| Life Of Mine AISC | el_zorro | PFS life of mine | 1,572 | 1,572 USD/oz | Current |
| Pre Production Capital | el_zorro | Construction (PFS, +/-25%) | 256 | 276.5 USD m | Current |
| Sustaining Capital | el_zorro | Life of mine | 46.3 | 46.3 USD m | Current |
| DFS Completion | el_zorro | CY2026 | — | — date | Current |
| First Gold | el_zorro | CY2029 | — | — date | Current |
| Final Investment Decision | el_zorro | End CY2026 (February 2026 guidance) | — | — date | Superseded |
| Scoping Study Pre Production Capital | el_zorro | Scoping study (September 2025) | 248 | 248 USD m | Superseded |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-10-29 | RaisingOrdinary Shares | A$40M | — | A$0.73 | Announced | Two-tranche placement: ~A$32.8m under existing capacity and ~A$7.2m subject to approval at an EGM expected in December 2026; ~54.8m shares at A$0.73 for DFS completion, permitting, resource expansion and exploration.Max 54.8M · Holder approval required |
| 2026-06-30Ann. 2026-09-11 | Lease | A$341K | — | — | Ongoing | — |
| 2025-12-02Ann. 2025-09-30 | RaisingOrdinary Shares | A$34M | 42.8M | A$0.053 | Completed | A$34m placement in two tranches (641.5m pre-consolidation shares, about 42.8m post-consolidation), tranche 2 approved 26 November 2025.Max 641.5M · Holder approval required |
| 2025-06-25Ann. 2025-04-17 | RaisingOrdinary Shares | A$11.1M | 30.8M | A$0.024 | Completed | A$11.1m institutional placement (461.3m pre-consolidation shares).Max 461.3M · Holder approval required |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Annual report 2025, half-year 2026, reserve release and September 2026 quarterly reviewed for royalties, streams, offtake, JVs, carries, partnerships and hedges; the reserve release states no government or private royalties apply, no offtake is required (dore sold on site) and no hedges are disclosed.
Marlin holds a 5% free-carried interest in Tesoro Mining Chile (so Tesoro funds 100% of TMC spending for 95% of the benefit). A binding term sheet (29 October 2026) buys it for ~11.7m Tesoro shares, lifting effective El Zorro ownership from 90.63% to 95.4% subject to the December 2026 EGM.
Free Carry · Active- Counterparties
- Inversiones Marlin Limitada
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Free-carried interest in Tesoro Mining Chile SpA: 5 %
Acquisition consideration (binding term sheet, 29 Oct 2026): 11,700,000 shares
Escrow on consideration shares: 50% for six months
Condition: Shareholder approval at December 2026 EGM
How it affects our valuation
No valuation treatment is available for this arrangement.
Wanaco SpA, the original vendor-partner, holds about 4.6% of El Zorro SCM in a fully diluting joint venture and disputes the 2021 capital increase; the first-instance court dismissed its claim with costs (August 2025) and the appeal is pending.
Joint Venture · Active- Counterparties
- Wanaco SpA
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Wanaco interest in El Zorro SCM: 4.6 %
Funding: Fully diluting: non-participation in capital increases dilutes Wanaco
Litigation: Civil claim over the 2021 capital increase dismissed Aug 2025; appeal expected to be decided in 2027; ancillary proceedings continue
How it affects our valuation
No valuation treatment is available for this arrangement.
Non-binding alliance LOI with STRACON as preferred contractor for pre-construction, construction and mining; PFS mining costs include alliance costs.
Strategic Partnership · Announced- Counterparties
- STRACON Chile SpA
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Mixed
- Period
- From 2026-07-01; no end date stated
- Key terms
- Nature: Non-binding LOI for an alliance-style mining and construction framework, phases under separate Notices to Proceed
Binding: —
How it affects our valuation
No valuation treatment is available for this arrangement.
Non-binding MoU for grid power supply via the Tecnocap line and Totoralillo substation; underpins the PFS power cost (~US12c/kWh).
Other · Announced- Counterparties
- Tecnocap S.A. (Compania de Aceros del Pacifico)
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Benefit
- Period
- From 2025-05-09; no end date stated
- Key terms
- Scope: Non-binding MoU to study grid power transmission via Totoralillo (175MVA line)
Connection request: 21 MW
How it affects our valuation
No valuation treatment is available for this arrangement.
MoU for brine (bittern) process water piped from the Aguas CAP Totoralillo plant ~25km away; metallurgy confirmed recoveries with this water.
Other · Announced- Counterparties
- Aguas CAP (Totoralillo desalination plant)
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Benefit
- Period
- Dates not stated
- Key terms
- Scope: MoU for supply of desalination brine as process water
How it affects our valuation
No valuation treatment is available for this arrangement.
VAT refunds on exploration spend are conditional on meeting export targets by 30 June 2030 (extendable); a development delay beyond 2030 without an extension would require repayment.
Other · Active- Counterparties
- Chilean tax authority (SII)
- Applies to
- El Zorro Gold Project (Ternera deposit) · Gold
- Economic direction
- Burden
- Period
- 2023-08-02 to 2030-06-30
- Key terms
- Gross IVA receivable: 4,928,078 AUD
Condition: Meet export targets by 30 June 2030 (extendable) or repay VAT refunds
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
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Management background checks
Partial issuer-profile and company legal screen. Individual careers, outcomes and adverse leads are incompletely researched; no clearance is implied.
Decision-relevant facts
Material summary
Zeffron (Zeff) Reeves
Managing Director
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Geologist with 25+ years across resources; former MD of Metallum with Chile development/operating projects and prior Brazil project leadership.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Management · Zeff Reeves profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Management · Zeff Reeves profile; career/role section
LegalAlleged · High materiality
Wanaco litigation included a dismissal and a later criminal complaint
Tesoro reported dismissal of the initial Wanaco civil case in August 2025; its June 2026 half-year report states Wanaco appealed and ancillary proceedings remained. Separately, a September 2025 news report says a criminal complaint named Reeves and Uribe and reproduces a law-firm denial. The underlying complaint, any individual response and final case outcomes were not obtained.
Individual involvement documented · News reporting names this person in a complaint; allegations are not findings. The civil dismissal does not resolve the separate criminal complaint.
Half-year financial report, 30 June 2026 · Note 7, pp.29–30
Empresarios mineros presentan querella por prevaricación · 25 September 2025 report, complaint and law-firm response
Evidence gaps · 3
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
- The original criminal complaint, response by named individuals and final criminal/civil outcomes remain unverified.
Linton Putland
Executive Director - Mining and Development
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
35+ years in operations, JVs and corporate management; senior roles at IAMGOLD, Aurion, Delta and Pancontinental; mining consultancy principal.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Management · Linton Putland profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Management · Linton Putland profile; career/role section
Evidence gaps · 2
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
Emma Curnow
Chief Financial Officer
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Senior finance roles at Inca Minerals, Norwest Energy, Paringa Resources and Chariot Oil & Gas; corporate advisory experience.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Management · Emma Curnow profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Management · Emma Curnow profile; career/role section
Evidence gaps · 3
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
- Paringa role start and departure dates, and whether the role overlapped its U.S. subsidiary’s 2020 Chapter 11 proceedings, remain unverified; no responsibility for those proceedings is established.
Tim Williams
Chief Development Officer
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Senior/COO roles with Rio Alto, Rio2 and Marathon Gold; profile says he led development of multiple gold mines from concept to operation.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Management · Tim Williams profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Management · Tim Williams profile; career/role section
Company SuccessDocumented · Medium materiality
Valentine development and later first gold
Marathon appointed Williams COO in 2020 and announced a replacement effective 1 October 2023, while saying he would provide consulting support. Equinox reported Valentine’s first gold on 14 September 2025.
Role overlaps event; causation unproven · Williams held the COO role during early project development; the reported first pour occurred after his replacement. The duration of subsequent consulting and his individual contribution to that milestone are unverified.
Marathon Gold appoints Tim Williams chief operating officer · appointment announcement
Marathon Gold announces management appointments · management appointment and planned consulting
Equinox Gold delivers first gold at Valentine · first gold announcement, 15 September 2025
Evidence gaps · 3
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
- Valentine consulting duration, individual contribution to the 2025 first gold, and project outcomes during his exact tenure remain unverified.
Sergio Uribe
Country Manager Chile
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
Former Commercial Manager at Metallum Chile, GM at Acorn Mining Chile and Country Manager at Cleveland Mining Chile; exposure to mining lifecycle and Pilbara development team.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Board and Management · Sergio Uribe profile; career/role section
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Board and Management · Sergio Uribe profile; career/role section
LegalAlleged · High materiality
Wanaco litigation included a dismissal and a later criminal complaint
Tesoro reported dismissal of the initial Wanaco civil case in August 2025; its June 2026 half-year report states Wanaco appealed and ancillary proceedings remained. Separately, a September 2025 news report says a criminal complaint named Reeves and Uribe and reproduces a law-firm denial. The underlying complaint, any individual response and final case outcomes were not obtained.
Individual involvement documented · News reporting names this person in a complaint; allegations are not findings. The civil dismissal does not resolve the separate criminal complaint.
Half-year financial report, 30 June 2026 · Note 7, pp.29–30
Empresarios mineros presentan querella por prevaricación · 25 September 2025 report, complaint and law-firm response
Evidence gaps · 3
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
- The original criminal complaint, response by named individuals and final criminal/civil outcomes remain unverified.
Sarah Wilson
Company Secretary
Personal SuccessIssuer Reported · Medium materiality
Relevant professional experience
The 2025 appointment announcement reports more than 12 years of corporate advisory and governance experience.
Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.
Change of company secretary · p.1, appointment and professional experience
Role FitAnalyst Inference · Medium materiality
Role fit and evidence limits
The issuer-reported career has potential relevance to the current role; prior outcomes and individual contribution need independent verification.
Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.
Change of company secretary · p.1, appointment and professional experience
Evidence gaps · 3
- This is partial screening; independent career, qualifications, former-employer, legal, safety, fraud, environmental and governance checks remain incomplete.
- Exact role dates and cutoff continuity need dated corroboration.
- Tesoro’s site contains two same-name secretary biographies and its 2024 resignation and 2025 appointment do not independently establish whether the two officeholders are the same person. The certificate and membership shown in the older biography are withheld until identity and credentials are verified.
Company ownership
Investors & shareholders
Registered shareholder list unavailable
The available disclosures below do not provide a complete ranked register.
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 10.71%Issued shares | 2026-02-03 | |
| 6.31%Issued shares | 2026-02-12 | |
| 5.67%Issued shares | 2025-12-02 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- No coherent registered-shareholder/top-20 register was located in the reviewed 2026 annual report or local filing cache.
- Corporate International Holdings BV / Gold Fields Group is omitted from current substantial holders because the issuer labels the 345,266,739-share / 13.71% figure as pre-consolidation; no post-consolidation current quantity was established.
Sources
- Tesoro Gold Limited Annual Report 2026
ASX / issuer announcement · Published 2026-03-26 · Accessed 2026-10-09
Lists the latest substantial-holder disclosures and identifies their original ASX announcement dates.
Local PDF downloads/TSO/2026/2026-03-26_Annual Report to shareholders.pdf, p. 94
- Change in substantial holding
ASX / issuer announcement · Published 2026-02-03 · Accessed 2026-10-09
ASX notice referenced by the 2026 annual report for Collins St Asset Management.
Local PDF downloads/TSO/2026/2026-02-03_Change in substantial holding_5d363167278f35f4.pdf
- Change in substantial holding
ASX / issuer announcement · Published 2026-02-12 · Accessed 2026-10-09
ASX notice referenced by the 2026 annual report for Ruffer LLP.
Local PDF downloads/TSO/2026/2026-02-12_Change in substantial holding_37bb4933e75ce3ed.pdf
- Becoming a substantial holder
ASX / issuer announcement · Published 2025-12-03 · Accessed 2026-10-09
Form 603 identifies Aigle Royal Superannuation Pty Ltd ATF The A. Poli Superannuation Fund and Aigle Royal Consolidated Pty Ltd; 10,066,666 shares and 5.67% on 2 December 2025.
Local PDF downloads/TSO/2025/2025-12-03_Becoming a substantial holder_158532078c6d13b5.pdf, pp. 1-3
- Change in substantial holding
ASX / issuer announcement · Published 2025-10-10 · Accessed 2026-10-09
Gold Fields Group notice reports 345,266,739 shares and 13.71% before the subsequent consolidation; the annual report explicitly flags this figure as pre-consolidation.
Local PDF downloads/TSO/2025/2025-10-10_Change in substantial holding_6d42474314272e3d.pdf, pp. 1-3
Disclosed activity
Insider transactions
Trading activity2 buys · 1 sell shownNet cash last 12 months no tradesShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-09-14 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-09-14As disclosed: 360,000 Class E performance rights lapsed after vesting conditions were not met
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | ExpiryClass E performance rights | 360,000 | —Non Cash | — | — |
| 2026-07-17 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-07-17Conversion of vested performance rights, not an on-market purchase. Appendix 2A 2924-03112022-6A1334304 reports rights converted 13 July and shares issued 17 July; Appendix 3Y states change 17 July. As disclosed: Issue of shares on exercise of vested performance rights
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseOrdinary shares | 630,000 | —Non Cash | — | 630,000 |
| 2026-07-17 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-07-17Conversion of vested performance rights, not an on-market purchase. Appendix 2A 2924-03112022-6A1334304 reports rights converted 13 July and shares issued 17 July; Appendix 3Y states change 17 July. As disclosed: Issue of shares on exercise of vested performance rights
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseClass M performance rights | 90,000 | —Non Cash | — | — |
| 2026-07-17 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-07-17Conversion of vested performance rights, not an on-market purchase. Appendix 2A 2924-03112022-6A1334304 reports rights converted 13 July and shares issued 17 July; Appendix 3Y states change 17 July. As disclosed: Issue of shares on exercise of vested performance rights
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseClass L performance rights | 90,000 | —Non Cash | — | — |
| 2026-07-17 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-07-17Conversion of vested performance rights, not an on-market purchase. Appendix 2A 2924-03112022-6A1334304 reports rights converted 13 July and shares issued 17 July; Appendix 3Y states change 17 July. As disclosed: Issue of shares on exercise of vested performance rights
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ Change of Director's Interest Notice ↗ | ExerciseClass F performance rights | 450,000 | —Non Cash | — | — |
| 2026-07-01 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-07-01As disclosed: 110,000 Class Q performance rights lapsed after vesting conditions were not met
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | ExpiryClass Q performance rights | 110,000 | —Non Cash | — | — |
| 2026-06-19 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-06-19As disclosed: 286,667 Class Y performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass Y performance rights | 286,667 | —Non Cash | — | — |
| 2026-06-19 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-06-19As disclosed: 286,667 Class X performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass X performance rights | 286,667 | —Non Cash | — | — |
| 2026-06-19 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-06-19As disclosed: 286,667 Class W performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass W performance rights | 286,667 | —Non Cash | — | — |
| 2026-06-19 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-06-19As disclosed: 286,667 Class V performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass V performance rights | 286,667 | —Non Cash | — | — |
| 2026-06-19 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-06-19As disclosed: 1,003,332 Class U performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass U performance rights | 1,003,332 | —Non Cash | — | — |
| 2026-06-19 | Mark Connelly
Details & evidence for Mark Connelly on 2026-06-19As disclosed: 150,794 Class Y performance rights granted under performance rights plan
director · 2024-06-03 Correction to Appendix 3Y ↗ | GrantClass Y performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Mark Connelly
Details & evidence for Mark Connelly on 2026-06-19As disclosed: 150,794 Class W performance rights granted under performance rights plan
director · 2024-06-03 Correction to Appendix 3Y ↗ | GrantClass W performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Mark Connelly
Details & evidence for Mark Connelly on 2026-06-19As disclosed: 150,794 Class V performance rights granted under performance rights plan
director · 2024-06-03 Correction to Appendix 3Y ↗ | GrantClass V performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Mark Connelly
Details & evidence for Mark Connelly on 2026-06-19As disclosed: 497,618 Class U performance rights granted under performance rights plan
director · 2024-06-03 Correction to Appendix 3Y ↗ | GrantClass U performance rights | 497,618 | —Non Cash | — | — |
| 2026-06-19 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-06-19As disclosed: 258,730 Class Y performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass Y performance rights | 258,730 | —Non Cash | — | — |
| 2026-06-19 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-06-19As disclosed: 258,730 Class W performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass W performance rights | 258,730 | —Non Cash | — | — |
| 2026-06-19 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-06-19As disclosed: 258,730 Class V performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass V performance rights | 258,730 | —Non Cash | — | — |
| 2026-06-19 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2026-06-19As disclosed: 853,810 Class U performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass U performance rights | 853,810 | —Non Cash | — | — |
| 2026-06-19 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2026-06-19As disclosed: 150,794 Class Y performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass Y performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2026-06-19As disclosed: 150,794 Class W performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass W performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2026-06-19As disclosed: 150,794 Class V performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass V performance rights | 150,794 | —Non Cash | — | — |
| 2026-06-19 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2026-06-19As disclosed: 497,618 Class U performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass U performance rights | 497,618 | —Non Cash | — | — |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 700,000 ordinary shares issued on exercise of Class F, I, J, K and L performance rights
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseOrdinary shares | 700,000 | —Non Cash | — | 5,048,294 |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 50,000 Class L performance rights exercised
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseClass L performance rights | 50,000 | —Non Cash | — | — |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 50,000 Class K performance rights exercised
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseClass K performance rights | 50,000 | —Non Cash | — | — |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 50,000 Class J performance rights exercised
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseClass J performance rights | 50,000 | —Non Cash | — | — |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 50,000 Class I performance rights exercised
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseClass I performance rights | 50,000 | —Non Cash | — | — |
| 2026-02-09 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2026-02-09As disclosed: 500,000 Class F performance rights exercised
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice ↗ | ExerciseClass F performance rights | 500,000 | —Non Cash | — | — |
| 2025-12-31 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2025-12-31As disclosed: 84,444 Class P performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x3 ↗ | GrantClass P performance rights | 84,444 | —Non Cash | — | — |
| 2025-12-31 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2025-12-31As disclosed: 84,444 Class O performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x3 ↗ | GrantClass O performance rights | 84,444 | —Non Cash | — | — |
| 2025-12-31 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2025-12-31As disclosed: 84,445 Class N performance rights granted under performance rights plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x3 ↗ | GrantClass N performance rights | 84,445 | —Non Cash | — | — |
| 2025-12-31 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2025-12-31As disclosed: 110,000 Class Q performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x3 ↗ | GrantClass Q performance rights | 110,000 | —Non Cash | — | — |
| 2025-12-31 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2025-12-31As disclosed: 110,000 Class N performance rights granted under performance rights plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x3 ↗ | GrantClass N performance rights | 110,000 | —Non Cash | — | — |
| 2025-12-31 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-12-31As disclosed: 40,000 Class S performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x3 ↗ | GrantClass S performance rights | 40,000 | —Non Cash | — | — |
| 2025-12-31 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-12-31As disclosed: 40,000 Class R performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x3 ↗ | GrantClass R performance rights | 40,000 | —Non Cash | — | — |
| 2025-12-31 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-12-31As disclosed: 40,000 Class N performance rights granted under performance rights plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x3 ↗ | GrantClass N performance rights | 40,000 | —Non Cash | — | — |
| 2025-12-01 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-12-01As disclosed: 180,000 shares sold on market at A$1.15 per share
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice ↗ | SaleOrdinary shares | 180,000 | —Non Cash | AUD 1.15Disclosed price | 2,368,060 |
| 2025-11-10 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-11-10As disclosed: 3,750,000 Class F performance rights exercised
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x2 ↗ | ExerciseClass F performance rights | 3,750,000 | —Non Cash | — | — |
| 2025-11-10 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-11-10As disclosed: 3,750,000 ordinary shares issued on exercise of Class F performance rights
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x2 ↗ | ExerciseOrdinary shares | 3,750,000 | —Non Cash | — | 38,220,918 |
| 2025-11-10 | Mark Connelly
Details & evidence for Mark Connelly on 2025-11-10As disclosed: 3,750,000 Class F performance rights exercised
director · 2024-06-03 Change of Director's Interest Notice x2 ↗ | ExerciseClass F performance rights | 3,750,000 | —Non Cash | — | — |
| 2025-11-10 | Mark Connelly
Details & evidence for Mark Connelly on 2025-11-10As disclosed: 3,750,000 ordinary shares issued on exercise of Class F performance rights
director · 2024-06-03 Change of Director's Interest Notice x2 ↗ | ExerciseOrdinary shares | 3,750,000 | —Non Cash | — | — |
| 2025-02-27 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-02-27As disclosed: 152,372 shares acquired at A$0.031 per share
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice ↗ | PurchaseOrdinary shares | 152,372 | —Non Cash | AUD 0.031Disclosed price | 34,470,918 |
| 2025-02-17 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2025-02-17As disclosed: 9,225,000 Class D performance rights lapsed for non-achievement of performance conditions
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x2 ↗ | ExpiryClass D performance rights | 9,225,000 | —Non Cash | — | — |
| 2025-02-17 | Geoffrey William McNamaraLinkwood Holdings Pte Ltd
Details & evidence for Geoffrey William McNamara on 2025-02-17As disclosed: 10,805,000 Class D performance rights lapsed for non-achievement of performance conditions
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x2 ↗ | ExpiryClass D performance rights | 10,805,000 | —Non Cash | — | — |
| 2024-12-17 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-17Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Lapse of performance rights following non-achievement of vesting conditions
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | ExpiryClass E performance rights (pre-consolidation) | 4,600,000 | —Not Disclosed | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass L performance rights (pre-consolidation) | 750,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass K performance rights (pre-consolidation) | 750,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass J performance rights (pre-consolidation) | 750,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass I performance rights (pre-consolidation) | 750,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass H performance rights (pre-consolidation) | 7,500,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass G performance rights (pre-consolidation) | 7,500,000 | —Non Cash | — | — |
| 2024-12-16 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x4 ↗ | GrantClass F performance rights (pre-consolidation) | 7,500,000 | —Non Cash | — | — |
| 2024-12-16 | Mark Connelly
Details & evidence for Mark Connelly on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · 2024-06-03 Change of Director's Interest Notice x4 ↗ | GrantClass H performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-12-16 | Mark Connelly
Details & evidence for Mark Connelly on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · 2024-06-03 Change of Director's Interest Notice x4 ↗ | GrantClass G performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-12-16 | Mark Connelly
Details & evidence for Mark Connelly on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · 2024-06-03 Change of Director's Interest Notice x4 ↗ | GrantClass F performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-12-16 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass M performance rights (pre-consolidation) | 1,350,000 | —Non Cash | — | — |
| 2024-12-16 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass L performance rights (pre-consolidation) | 1,350,000 | —Non Cash | — | — |
| 2024-12-16 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass H performance rights (pre-consolidation) | 6,750,000 | —Non Cash | — | — |
| 2024-12-16 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass G performance rights (pre-consolidation) | 6,750,000 | —Non Cash | — | — |
| 2024-12-16 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice x4 ↗ | GrantClass F performance rights (pre-consolidation) | 6,750,000 | —Non Cash | — | — |
| 2024-12-16 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass H performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-12-16 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass G performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-12-16 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2024-12-16Performance rights; no on-market trade. Amounts are before the later 15:1 consolidation. As disclosed: Issue of performance rights under plan
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x4 ↗ | GrantClass F performance rights (pre-consolidation) | 3,750,000 | —Non Cash | — | — |
| 2024-11-13to 2024-11-14 | Geoffrey William McNamaraTanamera Resources Pte Ltd
Details & evidence for Geoffrey William McNamara on 2024-11-13As disclosed: 708,000 shares acquired on 13–14 November 2024 at A$0.023 per share
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice ↗ | PurchaseOrdinary shares | 708,000 | —Non Cash | AUD 0.023Disclosed price | 34,318,546 |
| 2024-04-26 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-04-26As disclosed: 246,952 share rights granted under salary-sacrifice plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | GrantShare rights | 246,952 | —Non Cash | — | — |
| 2024-03-08 | Zeffron Charles ReevesPalin Trust
Details & evidence for Zeffron Charles Reeves on 2024-03-08As disclosed: 9,225,000 Class C performance rights lapsed following non-achievement of performance conditions
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Change of Director's Interest Notice x2 ↗ | ExpiryClass C performance rights | 9,225,000 | —Non Cash | — | — |
| 2024-03-08 | Geoffrey William McNamaraLinkwood Holdings Pte Ltd
Details & evidence for Geoffrey William McNamara on 2024-03-08As disclosed: 10,805,000 Class C performance rights lapsed following non-achievement of performance conditions
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Change of Director's Interest Notice x2 ↗ | ExpiryClass C performance rights | 10,805,000 | —Non Cash | — | — |
| 2024-02-01 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2024-02-01As disclosed: 253,378 share rights granted under salary-sacrifice plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | GrantShare rights | 253,378 | —Non Cash | — | — |
| 2023-10-19 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2023-10-19As disclosed: 380,570 share rights granted under salary sacrifice plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | GrantShare rights | 380,570 | —Non Cash | — | — |
| 2023-10-05 | Kristie Young
Details & evidence for Kristie Young on 2023-10-05As disclosed: 4,550,000 TSOAB performance rights lapsed on 5 October 2023; the FY2024 Annual Report attributes 4,550,000 rights to Kristie Young and states they lapsed upon her resignation that day.
director · Start not disclosed to 2023-10-05 Notification of cessation of securities - TSO ↗ Annual Report to shareholders ↗ Annual Report to shareholders ↗ Final Director's Interest Notice ↗ | ExpiryPerformance rights (TSOAB) | 4,550,000 | —Non Cash | — | — |
| 2023-08-01 | Linton John PutlandPutland Family Trust
Details & evidence for Linton John Putland on 2023-08-01As disclosed: 277,777 share rights granted under salary sacrifice plan
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Change of Director's Interest Notice ↗ | GrantShare rights | 277,777 | —Non Cash | — | — |
Disclosed holding observations13 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-03-13 | Geoffrey William McNamara
Details & evidence for Geoffrey William McNamara on 2026-03-13The register position of 2,368,060 shares matches the year-end balance reported through Tanamera Resources Pte Ltd, of which Geoffrey McNamara is sole director and shareholder.
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Annual Report to shareholders ↗ Annual Report to shareholders ↗ | PositionFully paid ordinary shares (post-consolidation) | 2,368,060 | — |
| 2026-03-13 | Zeffron Charles Reeves
Details & evidence for Zeffron Charles Reeves on 2026-03-13The 13 March 2026 register lists 5,048,294 shares under Zeffron Charles Reeves. The annual report says the 31 December 2025 balance was held through Palin Trust, and the previously reviewed 9 February 2026 Appendix 3Y reports 700,000 ordinary shares issued on exercise of rights to that account. The positions reconcile exactly; the register does not restate the account name.
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Annual Report to shareholders ↗ Annual Report to shareholders ↗ Change of Director's Interest Notice ↗ | PositionFully paid ordinary shares (post-consolidation) | 5,048,294 | — |
| 2025-12-31 | Mark Connelly
Details & evidence for Mark Connelly on 2025-12-31No separate registered account is identified for this reported relevant interest. All table amounts are post-consolidation.
director · 2024-06-03 Annual Report to shareholders ↗ | PositionFully paid ordinary shares (post-consolidation) | 250,000 | — |
| 2025-12-31 | Mark Connelly
Details & evidence for Mark Connelly on 2025-12-31The table aggregates multiple classes and reports all balances post-consolidation. No separate account is identified.
director · 2024-06-03 Annual Report to shareholders ↗ | PositionPerformance rights (aggregate classes, post-consolidation) | 500,000 | — |
| 2025-12-31 | Geoffrey William McNamara
Details & evidence for Geoffrey William McNamara on 2025-12-31The annual report states these shares are held by Tanamera Resources Pte Ltd, of which Geoffrey McNamara is sole director and shareholder. All table amounts are post-consolidation.
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Annual Report to shareholders ↗ | PositionFully paid ordinary shares (post-consolidation) | 2,368,060 | — |
| 2025-12-31 | Geoffrey William McNamara
Details & evidence for Geoffrey William McNamara on 2025-12-31The annual report states that the rights are held by Linkwood Holdings Pte Ltd, of which Geoffrey McNamara is a director and substantial shareholder. The table aggregates multiple classes and reports all balances post-consolidation; this account attribution differs from some previously saved director grant notices and is not reconciled here.
director · Start not disclosed Tanamera Resources Pte Ltd · Sole director and shareholder of account-holder Tanamera Resources Pte Ltd. Linkwood Holdings Pte Ltd · Director and substantial shareholder of account-holder Linkwood Holdings Pte Ltd. Annual Report to shareholders ↗ | PositionPerformance rights (aggregate classes, post-consolidation) | 620,000 | — |
| 2025-12-31 | Linton John Putland
Details & evidence for Linton John Putland on 2025-12-31The annual report states that the rights are held by Linton Putland as trustee for the Putland Family Trust. The table aggregates multiple classes and reports all balances post-consolidation.
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Annual Report to shareholders ↗ | PositionPerformance rights (aggregate classes, post-consolidation) | 2,110,000 | — |
| 2025-12-31 | Linton John Putland
Details & evidence for Linton John Putland on 2025-12-31The annual report identifies 77,245 closing share rights but does not identify a registered account for the interest.
director · Start not disclosed Putland Family Trust · Trustee and beneficiary; director notices report interests held by him and Karen Putland as trustees. Annual Report to shareholders ↗ | PositionShare rights (aggregate classes, post-consolidation) | 77,245 | — |
| 2025-12-31 | Zeffron Charles Reeves
Details & evidence for Zeffron Charles Reeves on 2025-12-31The annual report states that the shares are held by Zeffron Charles Reeves as trustee for the Palin Trust. All table amounts are post-consolidation.
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Annual Report to shareholders ↗ | PositionFully paid ordinary shares (post-consolidation) | 4,348,294 | — |
| 2025-12-31 | Zeffron Charles Reeves
Details & evidence for Zeffron Charles Reeves on 2025-12-31The annual report states that the rights are held by Zeffron Charles Reeves as trustee for the Palin Trust. The table aggregates multiple classes and reports all balances post-consolidation.
director · Start not disclosed Palin Trust · Trustee and beneficiary; director notices disclose holdings through Palin Trust. Annual Report to shareholders ↗ | PositionPerformance rights (aggregate classes, post-consolidation) | 1,953,333 | — |
| 2023-10-05 | Kristie Young
Details & evidence for Kristie Young on 2023-10-05Final position on cessation; original trade underlying the replacement notice occurred in December 2022, before the coverage window.
director · Start not disclosed to 2023-10-05 Final Director's Interest Notice ↗ | FinalFully paid ordinary shares | 422,675 | — |
| 2023-10-05 | Kristie Young
Details & evidence for Kristie Young on 2023-10-05Final position on cessation; original trade underlying the replacement notice occurred in December 2022, before the coverage window.
director · Start not disclosed to 2023-10-05 Final Director's Interest Notice ↗ | FinalListed options exercisable at A$0.07, expiry 13 December 2025 | 23,483 | — |
| 2023-10-05 | Kristie Young
Details & evidence for Kristie Young on 2023-10-05Final position on cessation; original trade underlying the replacement notice occurred in December 2022, before the coverage window.
director · Start not disclosed to 2023-10-05 Final Director's Interest Notice ↗ | FinalPerformance rights | 4,550,000 | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory41 documents
TSO insider dealings (data/insider-transactions.db)Governance · MediumExtracted
python -m miners.insider_transactions show TSO: no on-market director purchases since February 2025; one sale (McNamara 180,000 shares at A$1.15, 1 December 2025); June 2026 grants of U-Y class performance rights to all directors except Gibson; Putland rights lapsed in July and September 2026; Reeves converted 700,000 rights into shares in February 2026.
- Document ID
- tso_insider_db
- Published UTC
- 2026-10-30T06:00:00Z
- Projects
- —
- Commodities
- gold
Quarterly Activities ReportOperations · HighExtracted
September 2026 quarterly activities report: Ternera MRE upgraded to 1.82Moz (1.47Moz Measured and Indicated), maiden 1.28Moz Ore Reserve, DFS targeted for CY2026, quarter-end cash A$9.28m, A$40m placement at A$0.73 and binding term sheet to buy Inversiones Marlin 5% free-carried interest in Tesoro Mining Chile for ~11.7m shares (both announced 29 October 2026, subject to an EGM in December 2026).
- Document ID
- tso_q3_2026_activities
- Published UTC
- 2026-10-30T02:59:41Z
- Projects
- el_zorro
- Commodities
- gold
Quarterly Cashflow ReportResults · HighExtracted
Appendix 5B for the September 2026 quarter: operating outflow A$0.119m, exploration and evaluation payments A$5.639m, closing cash A$9.280m, no financing facilities, 1.61 quarters of funding before the 29 October 2026 placement.
- Document ID
- tso_q3_2026_5b
- Published UTC
- 2026-10-30T03:04:11Z
- Projects
- el_zorro
- Commodities
- gold
ASX TSO closing price 30 October 2026Market Data · MediumExtracted
Latest eligible local ASX close from python -m miners.reference_price TSO --valuation-date 2026-10-30: A$0.795 (raw close) on 30 October 2026, volume 377,872, market data provider via miners.collect_stock_prices, one ASX TSO ordinary share, freshness 0 days.
- Document ID
- tso_price_20261030
- Published UTC
- 2026-10-30T05:10:00Z
- Projects
- —
- Commodities
- gold
Market snapshot TSO at 30 October 2026Market Data · MediumExtracted
python -m miners.v8db.market_snapshot TSO --cutoff 2026-10-30 --shares 179736167 --commodities Au: 52-week range A$0.755-1.425; returns 1m -7.6%, 3m -6.5%, 6m -29.7%, 12m -5.4%, 3y +179%; vs mining index 1m +2.6pp, 3m -2.0pp, 6m -18.8pp, 12m -14.2pp, 3y +138pp; 20-day average traded value A$170,745 and 60-day A$142,599; market cap A$142.9m; gold spot US$4,031.40/oz (29 October 2026) vs 1-year average US$4,452, 3-year US$3,305, 5-year US$2,725; AUD per USD 1.4407; no published gold peers in the v8 database share TSO's row (peer set built separately).
- Document ID
- tso_market_snapshot_20261030
- Published UTC
- 2026-10-30T06:00:00Z
- Projects
- —
- Commodities
- gold
Peer rows from miners_v8.db stock_daily (gold developers and builders)Market Data · MediumExtracted
Latest stock_daily rows on or before the cutoff for ASX gold peers already in the stock database: GGP (construction, 14 Oct 2026), RSG (construction, 14 Oct 2026), CMM (PFS developer/producer, 14 Oct 2026), FRS (PFS developer, 9 Oct 2026): market cap, EV, P/NAV, EV per attributable resource and reserve ounce, 12-month return, computed by miners.v8db.recompute against each stock's own published research.
- Document ID
- peer_database_20261030
- Published UTC
- 2026-10-14T06:00:00Z
- Projects
- —
- Commodities
- gold
TSO management assessment and background check (local research product)Governance · MediumExtracted
management/TSO/summary.md and background-check.json (researched 9 October 2026): team score 60/100 on role-relevant but mostly issuer-reported biographies (Reeves, Putland, Curnow, Williams, Uribe, Wilson); records the Wanaco civil dismissal (August 2025), the appeal and a September 2025 criminal complaint reported by La Tercera naming Reeves and Uribe, with no judicial finding against either. Checked against the 2025 annual report directors section.
- Document ID
- tso_mgmt_assessment
- Published UTC
- 2026-10-09T16:00:00Z
- Projects
- —
- Commodities
- gold
TSO ownership register (local research product)Governance · MediumExtracted
ownership/TSO/investors.json (reviewed 9 October 2026): substantial holders Collins St 10.71%, Ruffer 6.31%, Aigle Royal 5.67%, Gold Fields 13.71% pre-consolidation; notes that no top-20 list was located (the annual report p.95 top-20 table is used here instead).
- Document ID
- tso_ownership_register
- Published UTC
- 2026-10-09T16:00:00Z
- Projects
- —
- Commodities
- gold
This ASX gold stock could jump more than 200%: Broker (Motley Fool Australia on Morgans)Other · MediumExtracted
Motley Fool Australia (23 September 2026) reporting Morgans after the maiden reserve: price target A$2.64 with the shares at A$0.875; thesis of a technically robust, financeable single-pit project (strip ratio 6.3:1) near road, power, water and the port of Caldera, with multiple de-risking catalysts in 12 months; no explicit rating quoted. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- morgans_motley_20260923
- Published UTC
- 2026-09-22T23:00:00Z
- Projects
- —
- Commodities
- —
Presentation - Precious Metals Summit Beaver CreekPresentation · MediumExtracted
Precious Metals Summit Beaver Creek presentation (22 September 2026): capital structure at 18 September 2026 (179m shares, 12.8m performance rights, net cash A$15.3m at 30 June 2026), register split (Gold Fields 12.9%, Collins Street 10.9%), PFS headline economics, development timetable (DFS Q4 CY26, FID Q1 2027, first gold CY29).
- Document ID
- tso_pres_202609
- Published UTC
- 2026-09-21T22:22:49Z
- Projects
- el_zorro
- Commodities
- gold
Notification of cessation of securities - TSOCorporate Action · LowExtracted
Appendix 3H (18 September 2026): 360,000 performance rights lapsed; issued capital 179,736,167 ordinary shares, 12,872,762 performance rights, 1,000,000 options (A$0.54, June 2028) and 77,243 share rights.
- Document ID
- tso_appx3h_20260918
- Published UTC
- 2026-09-18T07:51:35Z
- Projects
- —
- Commodities
- gold
Maiden 1.28Moz Ore Reserve at Ternera - title correctionReserve Update · HighExtracted
Maiden Ternera Ore Reserve (title-corrected release, 18 September 2026): 42.8Mt at 0.93g/t Au for 1,283koz (93koz Proved, 1,190koz Probable) in a US$3,000/oz pit; PFS-level modifying factors: 3.0Mtpa CIP plant, 94.5% recovery, pre-production capital US$276.5m (US$52.2m vendor-financed lease), opex US$42.77/t or US$1,538/oz, LOM AISC US$1,572/oz, post-tax NPV5 US$994m and IRR 57% at US$3,500/oz, production schedule Y2-Y16 for ~1.19Moz, EIA submission Q1 2027, no government or private royalties.
- Document ID
- tso_ore_reserve_20260918
- Published UTC
- 2026-09-17T22:58:38Z
- Projects
- el_zorro
- Commodities
- gold
Half Year Report and AccountsResults · HighExtracted
Half-year report to 30 June 2026 (auditor-reviewed): loss after tax A$2.39m, cash A$15.29m, capitalised exploration A$66.27m, total equity A$81.69m, lease liabilities A$0.34m, 179,059,659 shares; review of DFS workstreams, STRACON alliance LOI, VAT refund contingent asset and the Wanaco contingent liability.
- Document ID
- tso_hy_2026
- Published UTC
- 2026-09-10T22:23:47Z
- Projects
- —
- Commodities
- gold
Upgrade to Ternera 1.8Moz Mineral ResourceResource Update · HighExtracted
Upgraded Ternera Mineral Resource (27 August 2026): 51.6Mt at 1.10g/t Au for 1.82Moz within a US$3,500/oz shell at 0.30g/t cut-off; Measured 95koz, Indicated 1,371koz, Inferred 356koz; 153,180m of drilling from 474 holes.
- Document ID
- tso_mre_20260827
- Published UTC
- 2026-08-26T22:31:05Z
- Projects
- el_zorro
- Commodities
- gold
Quarterly Activities ReportOperations · MediumExtracted
June 2026 quarterly activities report: resource-definition drilling (66.30m @ 1.71g/t Au in ZDDH0436), DFS workstreams, STRACON alliance, BurnVoir appointment, environmental baseline about 75% complete.
- Document ID
- tso_q2_2026_activities
- Published UTC
- 2026-07-30T23:11:19Z
- Projects
- el_zorro
- Commodities
- gold
Quarterly Cashflow ReportResults · MediumExtracted
Appendix 5B for the June 2026 quarter: exploration and evaluation payments A$7.135m, term deposit maturity, closing cash A$15.293m.
- Document ID
- tso_q2_2026_5b
- Published UTC
- 2026-07-30T23:19:14Z
- Projects
- el_zorro
- Commodities
- gold
Application for quotation of securities - TSOCorporate Action · LowExtracted
Appendix 2A (17 July 2026): 46,508 shares issued on vesting of share rights.
- Document ID
- tso_appx2a_20260717
- Published UTC
- 2026-07-17T06:20:58Z
- Projects
- —
- Commodities
- gold
Tesoro Advances El Zorro DFS and DevelopmentStudy · MediumExtracted
DFS and development-readiness update (1 July 2026): non-binding alliance LOI with STRACON Chile, GR Engineering on process design, Knight Piesold on dry-stack tailings, BurnVoir as debt adviser, 21MW grid connection request lodged, baseline studies 75% complete, EIA documentation late 2026 to early 2027.
- Document ID
- tso_dfs_update_20260701
- Published UTC
- 2026-06-30T22:20:54Z
- Projects
- el_zorro
- Commodities
- gold
Change of Director's Interest Notice x4Governance · LowExtracted
Appendix 3Y notices (19 June 2026): performance rights granted to directors after the 2026 AGM (Reeves 2.15m, Putland 1.63m, Connelly and McNamara 0.95m each).
- Document ID
- tso_dir_interest_20260619
- Published UTC
- 2026-06-19T06:24:55Z
- Projects
- —
- Commodities
- gold
Quarterly Activities ReportOperations · MediumExtracted
March 2026 quarterly activities report: extensional drilling down plunge (8.84m @ 3.54g/t Au), helicopter geophysics extending the corridor to over 40km, infill programme 80% complete, decision to go directly to DFS.
- Document ID
- tso_q1_2026_activities
- Published UTC
- 2026-04-23T05:00:04Z
- Projects
- el_zorro
- Commodities
- gold
Quarterly Cashflow ReportResults · MediumExtracted
Appendix 5B for the March 2026 quarter: exploration and evaluation payments A$6.670m, closing cash A$14.545m.
- Document ID
- tso_q1_2026_5b
- Published UTC
- 2026-04-23T05:03:19Z
- Projects
- el_zorro
- Commodities
- gold
Appendix 5B ReplacementResults · LowExtracted
Replacement Appendix 5B for the December 2025 quarter (2 April 2026) correcting cash to A$22.171m after reclassifying the A$8.03m term deposit; exploration and evaluation payments A$4.788m in the quarter.
- Document ID
- tso_5b_replacement_20260402
- Published UTC
- 2026-04-02T07:09:55Z
- Projects
- —
- Commodities
- gold
Annual Report to shareholdersResults · HighExtracted
Annual report for the year ended 31 December 2025 (audited, RSM): loss after tax A$5.17m, cash A$22.17m plus A$8.03m term deposit, capitalised exploration A$55.18m, equity A$85.79m; directors and biographies; MRE statement; Wanaco litigation and El Zorro ownership (95.4% of El Zorro SCM via 95%-owned Tesoro Mining Chile, 90.6% effective); top-20 holders at 13 March 2026 and substantial holders.
- Document ID
- tso_ar_2025
- Published UTC
- 2026-03-26T05:39:56Z
- Projects
- —
- Commodities
- gold
Tesoro Gold to advance Ternera to Definitive FeasibilityStudy · MediumExtracted
Decision to proceed directly to DFS (25 February 2026), DFS targeted by end CY2026 and FID by end CY2026; updated MRE then scheduled for Q2 2026.
- Document ID
- tso_dfs_decision_20260225
- Published UTC
- 2026-02-24T21:52:29Z
- Projects
- el_zorro
- Commodities
- gold
Gold price will rise 22% above current level to reach $6,300 by year-end 2026 - J.P. MorganCommodity Data · MediumExtracted
Kitco News (25 February 2026) on J.P. Morgan research: year-end 2026 gold target US$6,300/oz, long-term forecast raised to US$4,500/oz, central bank purchases expected near 755t in 2026 (about 190t a quarter), down from over 1,000t a year in 2022-2025. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- kitco_jpm_20260225
- Published UTC
- 2026-02-25T15:00:00Z
- Projects
- —
- Commodities
- gold
Change in substantial holdingCorporate Action · LowPartial
Form 604 change in substantial holding for Ruffer LLP (12 February 2026): 11,286,916 shares, 6.31%. Scanned image-only filing: the cover page was viewed as an image; the holding figure is taken from the 2025 annual report substantial-holder table (p.94), which cites this notice.
- Document ID
- tso_ruffer_20260212
- Published UTC
- 2026-02-11T21:13:53Z
- Projects
- —
- Commodities
- gold
Change in substantial holdingCorporate Action · LowPartial
Form 604 change in substantial holding for Collins St Asset Management (3 February 2026): 19,041,159 shares, 10.71%. Scanned image-only filing: the cover page was viewed as an image; the holding figure is taken from the 2025 annual report substantial-holder table (p.94), which cites this notice.
- Document ID
- tso_collins_20260203
- Published UTC
- 2026-02-03T05:25:35Z
- Projects
- —
- Commodities
- gold
Quarterly Activities ReportOperations · MediumExtracted
December 2025 quarterly activities report: 38,000m drilling programme under way, La Brea maiden drilling, A$34m placement settled, 15-for-1 consolidation completed.
- Document ID
- tso_q4_2025_activities
- Published UTC
- 2026-01-26T22:13:23Z
- Projects
- el_zorro
- Commodities
- gold
Tesoro Gold (ASX:TSO) analyst forecast (StockAnalysis, S&P Global consensus)Other · MediumExtracted
StockAnalysis page citing S&P Global (targets last updated 21 January 2026): three analysts, consensus Buy, average target A$3.23 (low A$2.00, high A$4.88); Canaccord Genuity initiated at Speculative Buy with A$2.80. Used only to test the thesis, not as a fair-value anchor. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- stockanalysis_consensus_20260121
- Published UTC
- 2026-01-20T22:00:00Z
- Projects
- —
- Commodities
- —
Change of Director's Interest NoticeGovernance · LowExtracted
Appendix 3Y (5 December 2025): Geoffrey McNamara (Tanamera Resources) sold 180,000 shares on market at A$1.15.
- Document ID
- tso_dir_interest_20251205
- Published UTC
- 2025-12-05T08:34:43Z
- Projects
- —
- Commodities
- gold
Becoming a substantial holderCorporate Action · LowExtracted
Form 603 Aigle Royal Superannuation / Aigle Royal Consolidated became a substantial holder (2 December 2025): 10,066,666 shares, 5.67%.
- Document ID
- tso_aigle_20251203
- Published UTC
- 2025-12-02T21:57:28Z
- Projects
- —
- Commodities
- gold
Gold demand rises to new high in tandem with price - WGCCommodity Data · MediumExtracted
Mining Weekly (30 October 2025) on the World Gold Council Q3 2025 Gold Demand Trends: record 1,313t quarterly demand (+3% y/y) driven by 222t of ETF inflows and 316t of bar and coin, jewellery down 19% to 371t, central banks 220t. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- wgc_q3_2025_miningweekly
- Published UTC
- 2025-10-30T07:00:00Z
- Projects
- —
- Commodities
- gold
Quarterly Activities ReportOperations · MediumExtracted
September 2025 quarterly activities report: updated scoping study (US$248m pre-production capital, AISC US$1,216/oz, 111koz pa) and August 2025 MRE of 1.82Moz.
- Document ID
- tso_q3_2025_activities
- Published UTC
- 2025-10-27T21:52:04Z
- Projects
- el_zorro
- Commodities
- gold
Change in substantial holdingCorporate Action · LowExtracted
Form 604 Gold Fields group (Corporate International Holdings BV) change in substantial holding (10 October 2025): 345,266,739 pre-consolidation shares, 13.71%.
- Document ID
- tso_goldfields_20251010
- Published UTC
- 2025-10-10T04:51:36Z
- Projects
- —
- Commodities
- gold
Tesoro secures A$34M to advance El Zorro towards developmentFinancing · HighExtracted
A$34m two-tranche placement at A$0.053 (pre-consolidation) announced 30 September 2025 to fund DFS, permitting and drilling.
- Document ID
- tso_placement_20250930
- Published UTC
- 2025-09-29T23:24:17Z
- Projects
- el_zorro
- Commodities
- gold
Expanded and Upgraded Open Pit Scoping Study OutcomesStudy · HighExtracted
Expanded and upgraded open pit scoping study (11 September 2025): 40.7Mt at 1.02g/t Au, 1.26Moz recovered over 13.5 years, upfront capital US$248m, AISC US$1,216/oz, post-tax NPV7.5 US$663m at US$2,750/oz; superseded by the September 2026 PFS-level Ore Reserve work.
- Document ID
- tso_scoping_20250911
- Published UTC
- 2025-09-10T23:09:46Z
- Projects
- el_zorro
- Commodities
- gold
Half Year Report and AccountsResults · MediumExtracted
Half-year accounts to 30 June 2025: cash A$7.45m after the A$11.1m placement.
- Document ID
- tso_hy_2025
- Published UTC
- 2025-09-07T23:00:00Z
- Projects
- —
- Commodities
- gold
Ternera Mineral Resource Estimate increases to 1.82 MozResource Update · MediumExtracted
August 2025 Ternera MRE: 51.2Mt at 1.10g/t Au for 1.82Moz in a US$3,000/oz shell (Indicated 1.12Moz, Inferred 0.69Moz); superseded by the August 2026 MRE.
- Document ID
- tso_mre_20250804
- Published UTC
- 2025-08-03T22:45:26Z
- Projects
- el_zorro
- Commodities
- gold
Annual Report to shareholdersResults · MediumExtracted
Transitional annual report for the six months to 31 December 2024 (change of year end from 30 June).
- Document ID
- tso_ar_2024t
- Published UTC
- 2025-03-26T08:09:42Z
- Projects
- —
- Commodities
- gold
Chile - New mining royalty is approved and ready to become law (EY tax alert)Other · MediumExtracted
EY tax alert (30 May 2023) on Chile Law 21,591: exemption below 12,000 tonnes of fine copper equivalent sales, progressive margin-based component for mining operators, ad valorem component only for copper sales above 50,000t, combined burden cap 45.5% below 80,000t; gold-specific application not described. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- ey_chile_royalty_20230530
- Published UTC
- 2023-05-30T13:00:00Z
- Projects
- —
- Commodities
- —
Gold Fields takes a stake in TesoroTransaction · MediumExtracted
Engineering News (17 November 2022): Gold Fields subsidiary Corporate International invested A$4.2m in a Tesoro placement (120m shares at A$0.035) as part of an A$8m raise; origin of the Gold Fields strategic holding. Remote-only source; the extraction fingerprint hashes the recorded summary.
- Document ID
- gf_stake_20221117
- Published UTC
- 2022-11-17T07:00:00Z
- Projects
- —
- Commodities
- —
Evidence facts87
9280000 AUD
2026-09-3040000000 AUD
2026-10-290.73 AUD/share
2026-10-2911700000 shares
2026-10-2990.63 %
2026-10-295640000 AUD
2026-09-30-119000 AUD
2026-09-30-5639000 AUD
2026-09-309280000 AUD
2026-09-300 AUD
2026-09-301.61 quarters
2026-09-30CY29 text
2026-09-21Q1 2027 text
2026-09-2112.9 %
2026-09-1842.8 Mt
2026-09-160.93 g/t Au
2026-09-161283000 oz
2026-09-16276500000 USD
2026-09-1852200000 USD
2026-09-1846300000 USD
2026-09-1842.77 USD/t
2026-09-181538 USD/oz
2026-09-181572 USD/oz
2026-09-18994000000 USD
2026-09-1857 %
2026-09-181510000000 USD
2026-09-1894.5 %
2026-09-18none applicable text
2026-09-18111 koz
2026-09-181189 koz
2026-09-1815291208 AUD
2026-06-3081691572 AUD
2026-06-30340954 AUD
2026-06-30-2411923 AUD
2026-06-30179059659 shares
2026-06-301822000 oz
2026-08-271466000 oz
2026-08-27179736167 shares
2026-09-1812872762 rights
2026-09-181000000 options
2026-09-1877243 rights
2026-09-1866.30m @ 1.71g/t Au from 375.00m (ZDDH0436) text
2026-06-3015293000 AUD
2026-06-30-7135000 AUD
2026-06-30179106167 shares
2026-07-1721 MW
2026-07-0175 %
2026-07-012150000 rights
2026-06-198.84m @ 3.54g/t Au from 576.00m (ZDDH0411) text
2026-03-3114545000 AUD
2026-03-31-6670000 AUD
2026-03-3122171000 AUD
2025-12-318030655 AUD
2025-12-3185794498 AUD
2025-12-3155182469 AUD
2025-12-31-5166419 AUD
2025-12-31-2856991 AUD
2025-12-31-13565399 AUD
2025-12-3195.4 %
2025-12-3195 %
2025-12-314587232 AUD
2025-12-3123017782 shares
2026-03-1322171000 AUD
2025-12-31-4788000 AUD
2025-12-31end of CY2026 text
2026-02-2538000 m
2025-12-315.67 %
2025-12-0213.71 %
2025-10-101.15 AUD/share
2025-12-01248000000 USD
2025-10-281216 USD/oz
2025-10-2834000000 AUD
2025-09-30663000000 USD
2025-09-11248000000 USD
2025-09-117450867 AUD
2025-06-301816000 oz
2025-08-043856976 AUD
2024-12-310.795 AUD/share
2026-10-30377872 shares
2026-10-304031.4 USD/oz
2026-10-294452.21 USD/oz
2026-10-291.4407 AUD/USD
2026-10-29170745 AUD
2026-10-300.793 x
2026-10-141.344 x
2026-10-1460 score
2026-10-09180000 shares
2025-12-01Conflicts requiring judgment2
- Tesoro Mining Chile interest in El Zorro SCM
The September 2026 quarterly says 94.54% on p.3 but 95.4% (90.63% effective) on pp.12-13; the audited Note 19 (95.4%) and the 90.63% effective figure (95% x 95.4%) agree, so 95.4% is used and 94.54% is treated as a transposition.
- PFS pre-production capital
Table 12 gives US$276.5m total pre-production capital (US$52.2m vendor-financed and repaid through a US$1.63/t capital lease opex line) while Table 14 shows US$256m; the model uses US$276.5m less the US$52.2m vendor lease as cash capital, with lease repayments in operating cost, and records the US$256m figure as unexplained.