Soma Gold Q2 ResultsMeanwhile we wait for the Aris-GCM merger go through my other Colombian gold miner, Soma Gold, came out with a solid Q2. They are presently trading at 1X EBITDA. Earnings and cash flow will be increasing each quarter for the next year as they increase milling tonnage by over 50% increase from Q2. AISC for this little miner is under USD$900/ounce. More Gold should result in AISC dropping to as low as USD$800/ounce. The average AISC for GDXJ listed miners is around USD$1400/ounce.
The present market cap of Soma is C$32 million (USD$24 million) trading at C0.35.5. Volume today has surged the most since June 16th and we still have 2.5 hours yet to go in the trading day.
Soma Q2 Earnings Website:
https://www.somagoldcorp.com/