Erik Wetterling – Value Proposition In Sonoro Gold, Delta Resources, and Altamira Gold
The KE Report Sep 8, 2026 19:25
Summary
Erik Wetterling argues junior gold is waking up, with Sonoro Gold, Delta Resources, and Altamira Gold framed as medium-term value setups.
Sonoro Gold's Cerro Caliche is a low-capex, near-surface open-pit heap leach project in Mexico whose permit timing is the key catalyst.
Delta Resources added Zach Flood and Joseph Milbourne to its board, lending third-party credibility to a potential ~1.5M oz resource at Eureka in Ontario.
Altamira Gold's Maria Bonita West returned long, low-grade porphyry intercepts in Brazil, with Cabral Gold cited as an oxide-to-sulfide comparable.
Erik discloses personal shareholdings in all three names and calls each an 'asymmetrical bet' at current market caps.
Erik Wetterling's takeaways
- Top takeaway Erik argues Mexico is ramping up permit approvals (citing Avino, Alamos, Silver Tiger, and Mining America's recent permit) and that this should de-risk Sonoro Gold's permit timeline as its key catalyst.
- He frames Delta Resources as an asymmetric bet — a ~$28-40M CAD market cap for an open-pit project in Canada with good infrastructure and a targeted ~1.5M ounce Eureka resource.
- Erik sees Altamira Gold's Maria Bonita West discovery as the start of a multi-million-ounce open-pit district, comparing the setup to Cabral Gold's earlier trajectory.
- He treats third-party validation as a core signal — Zach Flood and Mr. Milburn joining Delta's board, and Aura Minerals investing in Altamira — to vet prospectivity.
- Erik discloses he is a shareholder in all three companies and that Sonoro Gold is a banner sponsor of The KE Report.