Tesoro Gold's Financial Overview for Q3 2024

Tesoro Gold (ASX:TSO) has published its quarterly cash flow report for the quarter ending September 30, 2024. The report highlights the company's financial transactions, including operating, investing, and financing cash flows. Notably, the company achieved a net cash increase of AUD 5,343,000, ending the quarter with a cash balance of AUD 5,655,000.

Comprehensive Summary and Financial Outlook

Tesoro Gold (ASX:TSO) presented its quarterly cash flow statement for the period ending September 30, 2024. The company reported no receipts from customers but managed its expenditures with payments of AUD 88,000 for staff costs and AUD 385,000 for administration. Despite a net cash outflow of AUD 2,202,000 in investing activities, primarily due to exploration costs, the company secured AUD 7,954,000 from financing activities, following a successful equity raise. This strategic move led to a net cash increase, closing the quarter with AUD 5,655,000 in cash. The company plans to continue its exploration activities with a forecast of 2.2 quarters of funding availability, emphasizing its commitment to its growth objectives. Tesoro Gold remains compliant with Australian Accounting Standards and ASX Listing Rules, ensuring transparency and regulatory adherence.

Executive Commentary on Financial Performance

The company successfully raised AUD 8,520,000 through the issuance of equity securities, which significantly bolstered our cash position despite substantial outflows in exploration and evaluation.