Soma Gold is pleased to announce 2023 AuEq production of 32,340 ounces at its el Bagre Gold Complex. The Company achieved 96.5% of the 2023 forecasted production of 33,500 AuEq ounces, a 40% increase over the previous year's production. The deviation from anticipated production levels was due to two unscheduled and temporary suspensions during the year. The first, a two-week suspension in March 2023, was a result of labor [...]
62-103 - Soma Gold Corp. is pleased to announce that increased production at the Cordero Mine will now support the restart of operations at the el Limon mill, which has been under "care and maintenance" since 2019. The mill restart process is scheduled to commence in early January, with an estimated completion time of 3-4 months. The decision to restart the el Limon mill, rather than relocating it to the el Bagre Gold [...]
Soma Gold Corp. is pleased to announce that its subsidiary Operadora Minera SAS has been awarded the highest "Sustainability Seal" certification from the regional environmental authority CORANTIOQUIA. This recognition is a testament to the Company's commitment to sustainability and responsible practices at its El Bagre gold mining operation located in Antioquia, Colombia. The "Sustainability Seal" is only given to [...]
Ounces sold increased by 66% compared to Q3-2022 and 42% over the nine months ended September 30, 2023 Net Income for Q3 was $3.2 million on revenue of $22.8 million. Working capital increased from $89K in September 2022 to $6.2 million in September 2023 Adjusted EBITDA of $9.6 million and $26.7 million for the three and nine months ended September 30, 2023, respectively, compared to $3.8 million and $15.0 million in the [...]
September and Q3 production of 3,229 and 9,413 ounces AuEq, respectively. Year-to-date production represents a 45% improvement over the same period in 2022. Soma Gold Corp. is pleased to announce that the Company produced 9,413 AuEq ounces and sold 9,112 ounces during the third quarter of 2023. Cumulatively, year-to-date production reached 25,106 AuEq ounces compared to the budget of 25,225 AuEq ounces. This represents a [...]
Soma Gold Corp. is pleased to announce a new monthly gold production record of 3,154 AuEq ounces of gold for the month of August 2023. Year-to-date, Soma has produced 21,878 AuEq ounces, marking a substantial increase from the 16,219 ounces reported during the same period last year, which reflects Soma's commitment to optimizing production. Javier Cordova, President and CEO, states, "Our production remains well-aligned [...]
Soma Gold Corp. announces that the Company and Sintramienergetica-Zaragoza, the Union representing employees at the Company's el Bagre Gold Complex in Antioquia, Colombia, have reached a new two-year Collective Agreement for the period ending September 30th, 2025. This new Collective Agreement replaces the one-year agreement the Company entered last year after a two-week work stoppage. Javier Cordova, President and CEO [...]
Soma Gold Corp. announces that the Company's second quarter Financial Statements and MD&A have now been filed on SEDAR+ and can be viewed using the following link: bit.ly/3YYiuUw. The Company also advises readers to note that there was a typographical error in the Press Release dated August 29th, 2023. That Press Release should have stated that the AISC for the Quarter and the First Half ending June 30, 2023 were $1,268 [...]
Increases of 18% and 30% in gold sales over Q2 - 2022 and H1 - 2022 respectively . Net Income for H1 - 2023 of $4.8 million on revenue of $39.0 million. Adjusted EBITDA of $10.3 million and $17.0 million in Q2 - 2023 and H1 - 2023 respectively, compared to $7.48 million and $11.15 million in the same period in 2022, respectively. Total cash cost per ounce of gold sold in Q2-2023 was US$907 and US$901 for H2-2023. [...]
Soma Gold Corp. is pleased to announce that it produced 3,031 AuEq ounces in July, which represents a significant 47% increase compared to the 2,061 AuEq ounces produced in July of 2022. As of July 31, 2023, the Company has produced 18,723 AuEq ounces year to date and continues to be in line with its planned production target of 18,562 AuEq ounces for the same period. Javier Cordova, Soma's President and CEO, states [...]
Soma Gold Corp. announced the acquisition of the Otu Centro properties in Antioquia, Colombia, in May 2023 . The property is immediately to the south of, and contiguous with, the Company's existing Zara exploration properties in Antioquia, Colombia, along the prolific Otu Fault corridor. Soma has initiated the exploration of the new properties and is pleased to provide an update on the planned 2023 exploration program [...]
Soma Gold is pleased to announce that the Company produced 8,897 AuEq ounces during the second quarter ended June 30, 2023. Production exceeded the planned 8,450 ounces by 5%. Javier Cordova, Soma's President and CEO, states, "The team managing the Cordero Mine continues to surpass planned production and expects to exceed guidance for the full year. We are very pleased as our operations at Cordero transition from the [...]
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