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Soma Gold Corp V.SOMA

Alternate Symbol(s):  SMAGF

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), a copper/gold exploration project, which is located in the Carajas metallogenic province in the State of Para, Brazil. Its exploration projects include the Nechi Project, the Zara Project, and the Otu Project.


TSXV:SOMA - Post by User

Comment by tobinator01on Jan 22, 2023 3:55pm
136 Views
Post# 35238720

RE:About us text changed

RE:About us text changedNice find.  I believe they have the 1 million ounce target for 2025.  It's great that drilling is coming from earnings from the ground instead of the often used equity market.

I spoke with the Chairman of the Board, Geoff Hampson, on a zoom call a few weeks ago.  The earlier program would have to drill through 600 meters of rock before finding the network of gold rich veins.  Now that the extensive underground development has been done, they are doing their drilling starting from the tunnels near the resource.  I believe the next chunk of gold resources will be found much faster and has added to their confidence.  The company expects that the gold veins will extend 200 meters below where they are now.  That's a lot of rock and pile of gold potential.

I believe that the gold production numbers are solid coming out of the Cordero deposit.  They know what's there, have the equipment and milling capacity.  The wild card for hitting the 35,500 ounces is dependent upon getting the Nechi underground permit.  If it comes soon, we could see more than expected.  If it comes late in the year, they will miss.
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