Proactive Research Analyst Ryan Long speaks to Thomas Warner from Proactive London after releasing a new report on Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF), focusing on the recent publication of the Preliminary Assessment (PEA) for their Cerro Caliche project.
With only 30% of known gold occurrences explored, the company aims to rapidly advance the project into production to generate cash flow and minimise reliance on equity market placements.
Diverging from the traditional exploration approach, Sonoro Gold has already identified 400,000 oz of oxide gold, which requires less resource-intensive processing. This enables a low capital expenditure mine construction at $15.5 million USD.
The company's recent placement, where directors subscribed to 71% of the offering, underscores their confidence in executing this strategy.
Looking ahead, Sonoro Gold is awaiting mining permits and actively pursuing funding for mine construction.