Soma Gold Corp V.SOMA

Alternate Symbol(s): SMAGF

Metals & Mining Gold

Soma Gold Corp. is a Canada-based mining company. The Company is focused on gold production and exploration. It is engaged in the business of acquiring, exploring, developing, and operating mining properties in South America. It owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. The Company's principal operation is the El Bagre Gold Mining Complex (El Bagre), which consists of an operating gold processing plant (the El Bagre Mill) and the Cordero underground mine. The El Limon Project (El Limon) is adjacent to the El Bagre Project and includes a past producing underground mine and a gold processing plant with a capacity of approximately 225 tpd. The Company also owns an exploration property, Tucuma Exploration Project (Tucuma) copper/gold exploration project, which is located in the Carajas metallogenic province in the State of Para, Brazil.

TSXV:SOMA - Post by User

Soma Gold Corp > They needed to get noticed

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Comment by babyofbullionon Jul 05, 2020 3:17pm

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Post# 31226199

RE:RE:They needed to get noticed

They (Insiders) spent big on a mine and mill in the US. They couldn't get it into production without ploughing more money into it. This was their main asset.
They had debt and couldn't repay due to delays in production so they lost it for a dollar. A sh1tshow yes, but the share price got hammered to reflect the remaining asset (El Limon). They have new assets and a new CEO but some of the old insiders remain. They have put so much money into this.
It needs some sustained production (as expected) and actual gold sales to make a mockery of this share price. Exploration hits a bonus.

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