Tesoro Gold (TSO) Q3 2026 TU earnings summary

Executive summary

• Advanced the El Zorro Gold Project with strong exploration results and technical studies, moving directly to a Definitive Feasibility Study (DFS) targeted for completion by end of CY2026.

• Three concurrent, fully-funded diamond drilling programs (infill, extensional, new discovery) progressed, with significant high-grade gold intercepts at Ternera and new targets identified.

• Environmental baseline studies and permitting activities are well advanced, supporting an integrated development schedule.

• Hosted an institutional investor and analyst site tour, enhancing stakeholder engagement.

Financial highlights

• Cash balance of A$22.58 million and zero debt as of 31 March 2026.

• Approximately A$6.67 million spent on exploration and development during the quarter.

• 88,779 shares sold via Unmarketable Parcel Share Sale Facility, reducing administrative costs.

Outlook and guidance

• DFS completion targeted by end of CY2026, with Final Investment Decision (FID) expected soon after.

• Project aims for a single open pit operation and 3Mtpa processing plant, targeting over 110koz gold per annum.

• Continued drilling at new discovery targets expected to deliver further results in Q2 CY2026.