This is a focused interview with Sonoro Gold’s Ken McLeod about financing, drilling expansion, and the path to permitting and construction at the Sar Khichia project in Mexico. The core message is that rather than waiting for the environmental permit, Sonoro is using a stronger gold market to raise capital, expand its concession footprint, and aggressively drill to grow ounces and improve project economics.
Watch on YouTube ›Get the market thesis, key claims, assets, contradictions, and follow-up questions from any financial video — then unlock a version personalized to your portfolio, watchlist, and favorite speakers.
Ken McLeod says Sonoro Gold is benefiting from a much friendlier junior-mining financing environment than in prior years. He contrasts today’s market with the period when the company had to wait on Mexico’s environmental impact statement approval and effectively remain dormant while trying to keep the project alive. Now, with gold cited around $4,500 to $5,000 in his framing, Sonoro has raised money recently and is choosing to deploy that capital into drilling and land expansion rather than passively waiting. The main thesis is tactical and project-specific: Sonoro is trying to convert ground around existing pit shells that was previously treated as sterile into mineralized material, which would lower strip ratio and cash costs and enlarge the resource base. …
Tactically constructive for Sonoro Gold: recent financing plus imminent assays create a near-term news-flow setup, but the stock/project remains vulnerable to any permit delay or weak drill results.
Over the next few months, the setup improves only if drilling confirms extension success and the Mexico environmental permit moves from pending to approved; otherwise, the market may fade the expansion narrative.
Structurally, the interview argues that stronger gold prices and better junior capital markets can let developers advance larger projects before permits are fully resolved, but the long-run thesis still hinges on turning exploration success into a permitted, buildable mine.
Sonoro recently raised two financings totaling roughly $22 million over about three weeks.
He cites $10 million yesterday and another $12 million three weeks earlier.
The company is choosing to drill and expand the project instead of waiting for permit approval.
He explicitly says they decided to take advantage of higher gold prices and expand now.
A 50,000-meter drilling program has begun on the original area around the pit shells.
He says the drilling program just started last week.
What was the size of the financing you announced this week?
Ken says it was $10 million yesterday and another $12 million about three weeks ago, totaling significant recent fundraising.
What's the environment for raising money like right now and what's the big change?
Ken explains that Sonoro had been dormant waiting for the environmental impact statement approval in Mexico for two and a half years. They decided not to wait for the permit to build the mine, but instead took advantage of high gold prices ($4,500-$5,000) to raise money, initiate a 50,000 meter drilling program, and expand the lease and resource. The goal is to convert sterile ground within the pit shells into mineralized material to cut the strip ratio and reduce cash costs.
How much drilling do you plan to do this year?
Ken says 50,000 meters. They started last week with one rig operating 24/7 with two shifts. A second rig will arrive within 30 days, placed to the north where they recently extended the concession three-fold. That area has known mineralization from earlier operators, and they expect higher grades than the current mine plan.
Unlock the full claims, asset map, scores, related transcripts, follow-up questions, and AI chat — shaped around your portfolio, watchlist, favorite speakers, and risks.
