Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) CEO Kenneth MacLeod talked with Proactive about the company’s recent oversubscribed capital raise and the positive momentum at its Cerro Caliche gold project.
Sonoro Gold Corp successfully raised over $2 million, significantly exceeding its initial target of $500,000.
According to Kenneth MacLeod, demand ramped up quickly, driven by recent developments including the signing of long-term surface rights and rising gold prices.
MacLeod noted that investor confidence is being buoyed by favourable market conditions and Sonoro's firm progress toward receiving environmental approval for its project in Mexico.
“We’ve gone through the entire environmental review process… there doesn’t seem to be any issues from an environmental, social or technical perception to hold us back,” he said.
He added that the new administration in Mexico has been working to finalise environmental matters, and that approvals could begin flowing in the coming months.
Looking ahead, the company is planning a new Preliminary Economic Assessment (PEA) to reflect the current gold price—now approximately double the level used in the 2023 PEA.
MacLeod said the previous estimate used a gold price of $1,800, which now significantly underrepresents the project’s potential value.