Things are really starting to move along at Sonoro Gold’s (TSXV: SGO) Cerro Caliche project since drilling was completed earlier this year.
Despite the current market presenting challenges for raising capital, the company recently secured $3 million via private placement to put towards the ongoing development of a heap leach mine at Cerro Caliche. 24% of the total offering was provided by Sonoro’s own directors and officers, which shows me that they are more confident than ever in the project's potential.
Additionally, the company’s updated PEA for the project saw an increase in the pre-tax NPV, bringing it to USD $84.4 million.
After a very long drill campaign, I’m really excited for Sonoro to finally begin production at Cerro Caliche. This should see the beginning of a bright new chapter for the company.
$SGO.v is currently trading at $.13, valued at $18.11 million.
https://ceo.ca/@nasdaq/sonoro-gold-announces-closing-of-oversubscribed-3