Excited to see mine development updates from SGO.v Updates from Sonoro Gold (TSXV: SGO) regarding the development of a heap leach mine at the Cerro Caliche project will be a big catalyst to watch for.
The company completed an extremely through multi-phase drill program in June and also filed an updated PEA showing strengthened economics for the project. Following this, the company successfully raised over $3 million via an oversubscribed private placement.
The updated PEA placed the Pre-Tax NPV of the project at $84.4 million, assuming a gold price of $1,750 per ounce. Gold is currently priced at $1,800 per ounce.
With shares showing signs of consolidation around $.14, it looks to me like a correction could be coming down the pipe if we receive optimistic updates on mine development.
SGO.v is currently trading at $.145, valued at $20.2 million.
https://ceo.ca/@GlobeNewswire/sonoro-files-updated-preliminary-economic-assessment