Sonoro Gold CEO shares funding success amid turbulent markets
Vancouver
|
August 07, 2023 11:58 AM Eastern Daylight Time
Sonoro Gold Corp President and CEO Kenneth MacLeod discusses recent financing success amid challenging market conditions in an interview with Proactive's Stephen Gunnion.
Following the second tranche of a non-brokered private placement, the company has secured over $2 million in funding, signaling investor confidence despite market turbulence. The ongoing financing drive aims to reach a total of $3 million by the end of August.
MacLeod emphasized that a significant portion of the funds has been subscribed by insiders, a reflection of their strong belief in the company's potential.
Sonoro Gold is focused on advancing its proposed heap leach mining operation at Cerro Caliche. Key milestones include obtaining approval for the Environmental Impact Statement and updating the preliminary economic assessment (PEA) to reduce project costs. MacLeod anticipated a clear outlook within 30 days regarding the Environmental Impact Statement.
The CEO outlined a multi-phase strategy, initially targeting 420,000 ounces of mineralization within pit shells, with potential expansion up to 700,000 ounces through infield drilling. The raised capital is earmarked for project financing, permitting, construction, and resource expansion.
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