Soma Gold Corp. Reports Record Q1 Growth and Strategic Expansion Plans for Future Success
- Soma Gold Corp. reports Q1 2025 sales of CAD 27.88 million, up from CAD 19.33 million last year.
- The company plans to re-commission the el Limon mill in June 2025 to increase throughput by 20-30%.
- Soma Gold is permitting the Nechi Mine, with production expected to start in 2027, emphasizing sustainable practices.
Soma Gold Corp. Advances Growth Strategy Amid Record Financial Results
Soma Gold Corp. (TSXV: SOMA) reports remarkable financial performance for the first quarter of 2025, showcasing a robust growth strategy that emphasizes operational efficiency and profitability. The company posts sales of CAD 27.88 million, a significant increase from CAD 19.33 million in the same quarter of the previous year. This surge in sales is accompanied by a net income of CAD 3.17 million, a considerable improvement from a net loss of CAD 0.17 million in the prior year. These financial achievements reflect Soma's strategic commitment to enhancing shareholder value while navigating the complexities of the gold mining industry.
As part of its operational enhancements, Soma Gold is set to re-commission the el Limon mill in June 2025, which is expected to boost overall throughput by 20-30%. This increase in production capacity will be supported by feed sourced from the Aurora and Cordero mines, as well as from local small-scale miners. Additionally, the company is progressing with production plans at the el Limon Mine, bolstered by the recent discovery of a potentially profitable parallel vein structure. Alongside these initiatives, Soma is exploring the Psyche 1 area for new deposits, with further drilling activities slated for later in the year. These exploration efforts align with the company’s broader objective of leveraging internally generated funds for regional growth.
Soma Gold is also in the process of permitting the Nechi Mine, with production anticipated to commence in 2027. This strategic expansion reflects the company’s commitment to sustainable mining practices and community engagement, which are integral to its operational ethos. With two adjacent mining properties in Antioquia, Colombia, and a combined milling capacity of 675 tons per day (TPD), Soma is positioning itself for continued production growth into 2026 and beyond. The ongoing advancements in their operational strategies not only underscore their resilience in the gold mining sector but also highlight the importance of adaptability in a fluctuating market.
In addition to its operational progress, Soma Gold Corp. has granted 200,000 stock options to Investor Relations consultants at an exercise price of CAD 1.07 per share, vesting over 12 months. The measures taken by the company reflect a proactive approach to stakeholder engagement amidst evolving market dynamics. The financial statements and management discussions are available on SEDAR+ and the company’s website, ensuring transparency and accessibility for investors and stakeholders alike.
As Soma Gold continues to refine its operational strategies, its focus on sustainable growth and community involvement may serve as a model for other companies in the sector, particularly in navigating the challenges of production efficiency and market fluctuations.