Palisades acquires 22 million Sonoro Gold units

The most recent release (2026-06-11) announces that Palisades Goldcorp acquired 22 million units of Sonoro Gold Corp. via a private placement, increasing its beneficial ownership to 8.69% of outstanding shares (up to 14.80% fully diluted). Each Unit was priced at $0.25, comprising one share and one three-year warrant exercisable at $0.34. This disclosure comes one day after Sonoro closed its oversubscribed $15.5 million non-brokered private placement of 62 million units, with identical terms ($0.25 per unit; $0.34 warrant). Palisades already held 15.25 million shares and warrants prior to this purchase.

Palisades is a recognized resource investor, and the substantial increase in its stake might be seen as a vote of confidence. However, the underlying financing was already announced and closed; the market was aware the placement was oversubscribed. The Palisades filing is a routine early-warning report that merely identifies a major placee. There is no genuinely new, unexpected information here that would move the stock significantly. The stock price fell to $0.19 on June 10, below the $0.25 placement price, signaling that investors remain more focused on the dilutive impact and the project’s ongoing capital needs. Consequently, this item is a routine, expected follow-up to a recently completed financing and does not represent a material change in the investment case.

Sonoro Gold Corp. is a junior exploration and development company focused on its 100%‑owned Cerro Caliche gold project in the Magdalena and Cucurpe districts of Sonora, Mexico. The project hosts an open‑pit, heap‑leach amenable oxide gold deposit. An updated Preliminary Economic Assessment (March 2026) evaluated a 10‑year mine life processing up to 16,000 tpd, with average annual production of ~46 k oz AuEq at a grade of 0.38 g/t AuEq. Base‑case economics at USD $3,500/oz gold show a pre‑tax NPV₈ of $360 M (IRR 65%) and after‑tax NPV₈ of $224 M (IRR 50%), with a 1.7‑year payback. Initial CAPEX is estimated at $83 M, and cash costs are $1,842/oz AuEq (AISC $1,902/oz). The resource estimate totals 51.8 Mt Measured & Indicated (6,230 k oz AuEq) and 8.8 Mt Inferred (1,040 k oz AuEq). The property footprint has been expanded through multiple acquisitions to over 9,000 ha, and only ~30% of identified mineralized corridors have been drilled. The company also holds the early‑stage San Marcial gold‑silver project, which is being evaluated for a potential spin‑out into a separate public entity.