I’m highly anticipating updates on Sonoro Gold’s Cerro Caliche project after the company took the project into the drilling phase and raised $3 million for expenses in December.
The Cerro Caliche project presents a massive opportunity for $SGO.V. An after-tax NPV of $41.5 million with a very high IRR of 32.4% is insane for a company valued at $18.49 million. Additionally, 18% of the $3 million raised was supplied directly by directors and officers of the company, showing leadership is very confident in the present potential of the project.
$SGO has been trending bearishly after seeing a steep dive in September. However, the trend has remained quite slow and has only fallen 28.5% from high to current prices since mid-September.
To me, $SGO seems like a massive potential growth play in the Canadian jr mining world. The potential value in its current operations appears to eclipse the company’s current market cap, and I believe it’s only a matter of time before positive updates on the Cerro Caliche project send shares on a bearish run once again. Historically, shares have tested prices of $.335 and $.38 in the past two years.
Shares of $SGO.V are currently trading at $.15 and the company is valued at an MCAP of $17.89 million.
https://ceo.ca/@nasdaq/sonoro-announces-closing-of-3000000-private-placement