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Soma Gold ( (TSE:SOMA) ) has issued an update.
Soma Gold Corp. announced a 2024 gold production of 27,460 AuEq ounces, achieving 92.4% of its projected production at the Cordero Mine despite challenges like mechanical shutdowns and community blockades. The company is in advanced talks to purchase mineralized rock from the Zancudo Mine, owned by Denarius Metals Corp., to generate production and cash flow at its El Limon Mill. The restart of the El Limon Mill, previously delayed due to permitting issues, will complement Soma’s ramp-up of production and Denarius’s commissioning of a new mill, highlighting synergies between the companies.
More about Soma Gold
Soma Gold Corp. is a mining company specializing in gold production and exploration. It owns two adjacent mining properties in Antioquia, Colombia, with a milling capacity of 675 tons per day, permitted for up to 1,400 tons per day. The company is also committed to sustainability and community engagement and owns an exploration property in Para State, Brazil, currently under option to Ero Copper Corp.
YTD Price Performance: 1.82%
Average Trading Volume: 70,135
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$50.66M
For detailed information about SOMA stock, go to TipRanks’ Stock Analysis page.
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