SMOFF - Sonoro Gold CEO shares funding success amid turbulent markets
(NewsDirect)
Sonoro Gold Corp President and CEO KennethMacLeod discusses recent financing success amid challenging marketconditions in an interview with Proactive's Stephen Gunnion.
Following the second tranche of anon-brokered private placement, the company has secured over $2million in funding, signaling investor confidence despite marketturbulence. The ongoing financing drive aims to reach a total of $3million by the end of August.
MacLeod emphasized that a significant portion of the funds hasbeen subscribed by insiders, a reflection of their strong belief inthe company's potential.
SonoroGold is focused on advancing its proposed heap leach mining operationat Cerro Caliche. Key milestones include obtaining approval for theEnvironmental Impact Statement and updating the preliminary economicassessment (PEA) to reduce project costs. MacLeod anticipated a clearoutlook within 30 days regarding the Environmental Impact Statement.
The CEO outlined a multi-phase strategy, initially targeting420,000 ounces of mineralization within pit shells, with potentialexpansion up to 700,000 ounces through infield drilling. The raisedcapital is earmarked for project financing, permitting, construction,and resource expansion.
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