Soma Gold Corp. Appoints PwC Auditor to Support Growth Strategy and Governance
- Soma Gold Corp. transitions to PricewaterhouseCoopers LLP for auditing, effective July 5, 2025, to support growth strategy.
- The switch aims to align financial oversight with operational demands as Soma expands in the gold mining sector.
- Soma remains committed to sustainability and community engagement while enhancing assets and shareholder value through exploration.
Soma Gold Corp. Welcomes New Auditor to Support Growth Strategy
Soma Gold Corp. announces a significant shift in its auditing framework as it transitions from Doane Grant Thornton LLP to PricewaterhouseCoopers LLP (PwC), effective July 5, 2025. This strategic decision, made by the Board of Directors, aims to align the company’s financial oversight with its ambitious growth strategy and evolving operational demands. The appointment of PwC will be put forward for shareholder approval at the upcoming Annual General Meeting scheduled for December 2025. The change reflects Soma's commitment to enhancing its corporate governance as it expands its footprint in the gold mining sector.
The decision to switch auditors comes during a pivotal time for Soma Gold Corp., which has been on a growth trajectory, particularly in its operations in Colombia. The company has effectively utilized its resources, operating two fully permitted mills: the El Bagre Mill, which runs at a capacity of 450 tons per day (tpd), and the El Limón mill, expected to restart in the third quarter of 2025. The transition to PwC is anticipated to bolster Soma’s financial practices, ensuring they are in line with the best industry standards as the company prepares for increased production and exploration efforts in the region.
Greg Hayes, Chief Financial Officer of Soma Gold Corp., expresses appreciation for Doane Grant Thornton's professionalism during their tenure, particularly as the company navigated a crucial growth period. He emphasizes the enthusiasm surrounding the collaboration with PwC, which is recognized for its extensive expertise in the mining sector. As Soma Gold continues to focus on gold production and exploration, the new auditor is expected to play a vital role in supporting the company’s operational and financial objectives.
In addition to its restructuring in financial oversight, Soma Gold Corp. remains committed to sustainability and community engagement, essential facets of its operational ethos. The company owns more than 43 square kilometers of mineral concessions along the OTU fault in Antioquia, Colombia, and is actively involved in regional exploration programs funded through internally generated resources. Soma also holds an exploration property in Tucuma, Para State, Brazil, which is currently under option, illustrating its strategic approach to expanding its assets and enhancing shareholder value.