Soma Gold Corp. Enhances Operations and Financial Health for Future Growth
- Soma Gold Corp. repaid CAD 3.5 million of its Conex loan, enhancing financial stability for future growth.
- El Limon Mill rehabilitation is on schedule, aiming for 100 TPD production within two months.
- Combined milling capacity across two properties is set to boost gold production by 20-40% soon.
Soma Gold Corp. Advances Operational Capacity with Strategic Developments
Soma Gold Corp. (TSXV: SOMA), a mining company dedicated to gold production in Colombia, provides significant operational updates that highlight its commitment to enhancing production capabilities and financial health. As of June 19, 2025, the company reports the successful repayment of CAD 3.5 million towards its Conex loan, with plans to continue utilizing free cash flow for further repayments. This strategic approach not only reinforces Soma Gold's financial prudence but also positions the company favorably for future growth. The loan agreement, which allows for early repayments without penalties, reflects a disciplined strategy aimed at reducing debt and maintaining a robust balance sheet.
In addition to its financial activities, Soma Gold is making notable advancements at its El Limon and El Bagre milling operations. The El Limon Mill rehabilitation is progressing on schedule, with commissioning and testing set to begin by the end of June. The company aims to ramp up production to 100 tonnes per day (TPD) within 60 days. Meanwhile, the El Bagre Mill has completed the construction of a new leach tank designed to enhance gold recovery through increased leach residence time. Despite experiencing minor mechanical issues that temporarily affected throughput, repairs have restored the mill to full production capabilities, demonstrating the company's commitment to operational efficiency.
CEO Geoff Hampson expresses satisfaction with the upgrades at El Limon, noting that the mill’s capacity has expanded significantly from 50 TPD to 225 TPD since its acquisition in 2017. This expansion aligns with Soma Gold's objective to operate both mills simultaneously, which is projected to boost overall throughput and gold production by an estimated 20-40% in the coming months. With a combined milling capacity of 675 TPD across its two mining properties in Antioquia, Colombia, the company is setting the stage for increased production and a stronger market presence.
In addition to its operational enhancements, Soma Gold is committed to sustainability and community engagement in its mining practices. The company also holds an exploration property in Brazil, which is currently under option to Ero Copper Corp. This diversification not only strengthens Soma Gold's portfolio but also reflects its long-term vision for growth within the mining sector. Overall, Soma Gold Corp. is well-positioned to achieve higher production levels and improved operational efficiencies, reinforcing its standing in the competitive gold mining industry.