Soma Gold Corp. is pleased to announce initial results from the 2024 diamond drill program at the Cordero Mine on the Bagre Project. Nineteen diamond drill holes, totalling 2,759m of drilling, were completed by underground and surface drill rigs. The drilling to date has targeted the up-dip extension of gold-bearing quartz veins commonly referred to as the "Cordero Vein." The Cordero Vein has been successfully mined from [...]
Soma Gold Corp. is pleased to announce that, in cooperation with the Mayor and Municipality of Zaragoza and the local community, the issues pertaining to the paving of a local road have been resolved, and the blockade has now been lifted. The Company's workers will return to work for the Wednesday morning shift, and regular production is expected to ramp up by Wednesday. The Company extends its gratitude to all the [...]
Soma Gold Corp. announces a temporary suspension of mining and processing activities at its el Bagre mine and mill in Antioquia, Colombia, due to a community blockade. This action by the local community has restricted access for employees and supplies, leading to a Care and Maintenance status for the site. The blockade began on Wednesday, July 3, driven by community frustration over delays in local road maintenance and [...]
Soma produced 7,335 AuEq ounces in Q1-2024 - an 8% increase over the 6,796 AuEq ounces produced in Q1-2023. Revenue for the quarter was up 21% to $19.3 million. Adjusted EBITDA was $6.3 million for the quarter, which was largely consistent with $6.8 million in Adjusted EBITDA recorded in Q1-2023. Transition to new Mining Method progressed in Q1 resulting in the expected, temporarily higher production costs, which are [...]
Goldlogic Corp. , a subsidiary of Sunvalley Company DMCC is pleased to announce an amendment to its offtake agreement with Soma Gold Corp. . The amendment includes an additional US$3 million advance to facilitate Soma's development work at the Aurora Mine and increase their 2024 exploration budget. Details of the Amended Offtake Agreement The revised Offtake Agreement provides Soma with an additional US$3 million from [...]
Soma Gold Corp. is pleased to announce that the Company has amended its offtake agreement with Goldlogic Corp. and MVPR International Incorporated, dated September 4th, 2020, by securing an additional US$3 million. The proceeds will be used to complete the development work at the Aurora Mine, with the aim of commencing production in Q3 2024. Furthermore, it will also augment the 2024 exploration budget, facilitating [...]
A record 32,340 AuEq ounces were produced in 2023 - a 40% increase from the previous year. Q4-2024 AuEq production was up 25% to 7,234 ounces. Revenue for the year rose by 53% to $81.1 million. Income for 2023 reached $2.8 million, compared to $0.3 million in 2022. Q4-2024 revenue climbed 46% to $19.4 million. Adjusted EBITDA reached $31.8 million, an 83% increase over the previous year. For Q4-2024, Adjusted EBITDA of [...]
The Company also announces a change to the mining method at Cordero Mine Soma Gold Corp. is pleased to announce that gold production for Q1 2024 was 7,335 AuEq ounces, an increase of 8% over the same period in 2023. The Company also announces that after a comprehensive internal review and collaboration with the Company's external technical consultants, it has been determined that a strategic shift in the mining method at [...]
Soma Gold Corp. is pleased to announce the results of the initial diamond drill program conducted at the La Aurora Mine on the Machuca Project. Three drill holes, totalling 656m of drilling, were successfully completed in late Dec 2023. Furthermore, this release also presents the results obtained from the 2022 due diligence underground sampling program. The assays from both the channel samples and drill holes are detailed [...]
Soma Gold Corp. announces that Javier Cordova Unda has taken a Personal Leave of Absence and has therefore temporarily resigned as president and director of the Company. Geoffrey Hampson, CEO and Chairman of the Board, states, "The Board of Directors hopes that the temporary resignation will allow Mr. Cordova to navigate through his personal challenges and that he will be able to resume his roles soon." ABOUT SOMA GOLD [...]
Soma Gold Corp. announces that Javier Cordova Unda has temporarily stepped down as the Chief Executive Officer of the Company in order to attend to personal matters. He will continue to serve as the President and a director of the Company. C. Geoffrey Hampson, who currently serves as Executive Chairman of the Company's Board, will act as interim CEO. Geoffrey Hampson, Chairman of the Board, states, "The Board of Directors [...]
Soma Gold Corp. is pleased to announce that the Company will begin trading today on the OTCQX Best Market under the symbol "SMAGF", having graduated from the OTCQB® Venture Market. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com. The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX [...]
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