Sonoro Gold (TSX.V: SGO OTCQB: SMOFF): As Building its Mine Gets Closer, Its Shares Move Higher (On page 17 & 18 Equity Research talks about Sonoro Gold)
Equity Research uses Minera Alamos (TSX.V: MAI) as a comparable:
Another more local example of what we may expect in terms of share price performance is Minera Alamos (TSX.V MAI). It has three projects: its flagship, Santana, which has just gone into production and two exploration projects: the Cerro d’Oro, which has to date outlined a 630,000 oz/Au resource averaging 0.41 g/t Au, and the La Fortuna, which has a 300,000 ounce resource averaging around 3.5 g/t Au. Minera Alamos has 462 million shares outstanding fully diluted, so nearly three times Sonoro’s fully diluted number of shares. Mineras Alamos fully diluted market capitalization at $0.70 is CAD $323 million, compared to Sonoro’s current fully diluted CAD $50 million.
The original catalyst for Minera Alamos’ $0.10 to$0.78 share price rise was its receipt of a permit which allowed it to begin building its now in operation Santana mine in Sonora State, Mexico.