Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) chairman, John Darch, told shareholders that the company is optimistic about the regulatory framework in Mexico following the election of Claudia Sheinbaum as president.
"With the Mexican presidential election now behind us, we are monitoring closely the incoming Sheinbaum administration's stance on mining," Darch wrote in a letter to shareholders.
"The appointments of moderates Marcelo Ebrard and Alicia Bárcena are encouraging for the mining sector, signaling a balanced approach towards sustainable development and economic growth."
Sonoro Gold is continuing to work on its flagship Cerro Caliche project, Darch assured readers.
The chair emphasized that the project's mineral concessions are secure, unaffected by proposed bans on new open-pit mining projects. He reassured shareholders that Sonoro Gold remains compliant with environmental regulations, having submitted necessary applications and assessments for regulatory approval.
"Despite geopolitical challenges, including regulatory uncertainties, Sonoro Gold is committed to advancing Cerro Caliche towards production," Darch affirmed.
Sonoro Gold also remains focused on securing a VAT receivable from the Mexican government, a process anticipated to conclude by year-end, further bolstering the company's financial position.
The company continues to explore avenues for growth and remains optimistic about its prospects within Mexico's dynamic mining sector.
The full shareholder letter is available here.