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Tesoro Gold Ltd ASX:TSO

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Dec 2025 to today

Commentary 2 comments

DateManagerActionSummary

30 Jun 2026Collins St Asset ManagementHeldCollins St Asset Management continues to hold Tesoro Gold because the company's June quarter update on its El Zorro Gold Project included progress on feasibility and permitting work alongside an increased drilling program at the Ternera deposit. The manager notes that Tesoro's Definitive Feasibility Study reported a post-tax NPV of $663 million, based on production of 110,000 ounces per annum over an initial 13-year mine life and an updated resource of 1.82 million ounces of gold, which Collins St compares favourably with the company's current market capitalisation of $150 million.

Gold Exploration Gold MiningQuarterly Report, price recorded $0.94

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31 Dec 2025Collins St Asset ManagementHeldCollins St Asset Management continues to hold Tesoro Gold Ltd because the company reported encouraging assay results from the maiden diamond drilling program at La Brea within the El Zorro Project in Chile, including broad zones of anomalous gold and higher-grade intervals. Collins St Asset Management notes management has drawn geological similarities between early La Brea drilling and the original Ternera discovery, which has grown into a nearly two-million-ounce deposit. Follow-up drilling at La Brea and initial programs across high-priority regional targets are now being planned.

Gold ExplorationQuarterly Report, price recorded $1.31

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on TSO.

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About Tesoro Gold Ltd

Materials, Metals and Mining

Tesoro Gold (ASX:TSO), a gold developer in Chile, is held by Collins St Asset Management for its discovery potential. In June 2026, Collins St reported Tesoro's June quarter update covered progress at its El Zorro Gold Project, including feasibility and permitting work and an increased drilling program. In December 2025, Collins St credited Tesoro with discovering Chile's first intrusion-related gold system, highlighting a resource of 1.82 million ounces. Tesoro Gold operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 2 comments from 1 fund manager, Collins St Asset Management. Headquartered in Perth, Tesoro Gold explores for and develops gold projects in Chile, focused on the El Zorro project in the Atacama region, centred on the Ternera deposit, and is advancing studies and permitting toward development while drilling to grow its resource, aiming to become a gold producer in a well-established mining jurisdiction.

Market cap: $159m
Price to earnings: Loss-making
Return on equity: -7.8%
Dividend yield: 0.0%
Price to book: 2.06x
Net margin: -1553.8%
52-week range: $0.76 to $1.44

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Tesoro Gold Ltd (ASX:TSO)?

Fund managers including Collins St Asset Management have invested in Tesoro Gold Ltd (ASX:TSO).

What opportunities or catalysts do fund managers highlight for Tesoro Gold Ltd?

Collins St highlights a 1.82 million ounce resource, Chile's first intrusion-related gold system discovery and progress on feasibility, permitting and expanded drilling.

What are the key risks to the Tesoro Gold Ltd investment thesis, according to fund managers?

The available commentary does not set out specific risks, though Tesoro must complete feasibility, permitting and funding to develop El Zorro.

What does Tesoro Gold Ltd (ASX:TSO) do?

Tesoro Gold Ltd. is a Perth-based resource company focused on the acquisition, exploration, and development of gold projects in Chile. Its primary asset is the El Zorro Gold Project. Founded on October 29, 2003, by Zeffron Charles Reeves and Geoffrey William McNamara, the company is headquartered in Australia and remains dedicated to advancing commercially significant mineral resource projects.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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