RE: Operational Update22 Oct 2025 20:23
The early ore sales were never meant to be material - they were small proof-of-concept runs showing the Tesoro system delivers top-tier grades and recoveries (> 90%). Hence why they were not accounted for in any valuation or resource figures.
The focus has always been on the underlying geology: ~51,000 oz already attributed to Bonanza + Morrocota from sampling, within a wider 213,000 oz internal Tesoro estimate. Once full-scale mining resumes and additional veins are opened, the real value driver kicks in - consistent production and verified ounces.