ASX-listed junior Tesoro Resources will raise some A$5.98-million through an share placement and accelerated pro-rata non-renounceable entitlement offer to fund exploration and development work at the El Zorro gold project, in Chile.
An initial share placement, consisting of more than 54.4-million shares, will be conducted at a price of 6c a share, to sophisticated and professional investors, raising A$3.26-million.