Soma now at 52-week highAt 40.5 cents, that equals their 52 week high. The 20-month high is 43.5 cents. It's nice to see the price firm up the last three weeks, but volume is weak. Grinding higher is actually better than rapidly shooting up and then crashing.
One of my biggest complaints about the team there is the lack of promotion of their story. The vast majority of miners over-promote themselves as they have to live off the equity market before they achieve sustaining cash flow positive status. Soma is cash flow positive and doesn't need to issue equity. This does not mean you don't promote yourselves at all.
I spoke with the Company. They said there are various mining conferences they are going to this year. I believe there was on later this month. With the average AISC of the top 25 GDX and GDXJ miners at US$1400, I'd think investors would latch onto a miner with estimated AISC below US$900 and growing production by 50% year over year. The indication from the conversation and recent events tells me they are now putting energy into telling their story to the market.
My guess is a junior mining company would love to merge with or gobble up Soma at its present depressed valuation. Only time will tell. Long and strong.