Sonoro Gold Corp
Sonoro Gold is advancing the Cerro Caliche heap-leach gold-silver project in Sonora, Mexico. An updated PEA released in February 2026 delivered a US$224M after-tax NPV and 50% IRR at $3,500/oz gold, and the company closed a CAD $15.5M oversubscribed private placement in June 2026 to fund permitting and continued land consolidation, following a May 2026 LOI to add adjacent concessions.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
0 of 5 reached- Not yet reached
- Not yet reached
- Not yet reached
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill, tailings facility, grid power.
Jurisdiction (40%)6/10
Sonora is one of Mexico's more mining-friendly states, but federal-level mining-law reform (2023) and policy uncertainty are a real overhang on Mexican juniors generally.
Infrastructure (40%)2.9/10
No confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Cerro Caliche Gold Project, Cucurpe Municipality, Sonora.
Nearby producing mine (20%)10/10
Mercedes (Highlander Silver Corp.) is 16 km away -- within shared-mill trucking range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:8.4/10
Nearest producing mine: Mercedes (Highlander Silver Corp.), 16 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:10/10
Stage: Permitting
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Mexico: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and CEO of Sonoro Gold Corp, leading the company since 2014. 40+ years in management/financing/governance of resource-sector development companies; trained mechanical engineer.
Chief Financial Officer of Sonoro Gold Corp, joined 2019. (CPA, CMA) 20+ years serving Canadian/U.S. listed companies.
Vice-Chairman and VP Operations of Sonoro Gold Corp. Professional mining engineer, 25+ years in Mexican metal-mine development; construction, environmental compliance, community relations experience.
VP Exploration at Sonoro Gold Corp. Geologist, SME-AIME member, 50+ years in mineral exploration; specializes in gold/silver/copper deposit discovery.
VP Corporate Development and Secretary of Sonoro Gold Corp. 25+ years in business development, administrative management, and regulatory compliance.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Sonoro has had no trouble raising money — six placements between August 2025 and June 2026, several oversubscribed, including C$12.2M in April and C$15.5M in June 2026 — but every one was non-brokered with no subscriber named, so none of it can be attributed to anyone identifiable. No producer holds equity in Cerro Caliche, there is no joint venture or offtake partner, and no institutional or insider records exist for this company in our data. Checked and empty, rather than unexamined.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Sonoro Gold owns 100% of the Cerro Caliche heap-leach gold-silver project in Cucurpe municipality, Sonora, Mexico, through its Mexican subsidiary Minera Mar de Plata, having completed its final concession payment in October 2025. Measured and indicated resources contain 617,000 oz of gold (129,000 oz measured and 488,000 oz indicated), plus 93,000 oz inferred, effective 4 December 2025. The updated preliminary economic assessment released in February 2026 outlines a 10-year open-pit heap-leach operation at up to 16,000 tpd, with an after-tax NPV8% of US$224M and a 50% IRR at US$3,500/oz gold and US$48/oz silver, initial capital of US$83M and an all-in sustaining cost of US$1,902 per gold-equivalent ounce. The company closed an oversubscribed C$15.5M private placement in June 2026 to fund permitting and land consolidation, after signing three binding letters of intent in May 2026 to acquire 24 adjacent mineral concessions outright and up to 51% of five more. Final permitting for the core project has been reported to be in its final stage, and in September 2026 the company reported results from the first 10,000 m of an ongoing 50,000 m drill campaign.