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), 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

Soma Gold Corp > Q4 was terrible

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Post by AlfTanneron May 01, 2024 12:08pm

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Post# 36017544

Q4 was terrible

The company reported a loss of -$5.3M or -$.03 per share in Q4. Now they are changing their mining method. The company did not even bother to explain the loss in the press release. What the heck happened?

The company also was forced to take out a $1M loan in 2024. That was mentioned at the end of the annual report.

The annual report shows $11.2M in income tax expense on income before tax of $14M. Why are they paying so much in taxes? They have a tax loss carryover in Canada, so they should not be paying any tax there.

Unless the company can explain why they are losing money and going deeper into debt, I will not be buying any more shares.

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