Soma Gold Corp.

Description

Soma Gold Corp. (TSXV: SOMA) is a Canadian-listed gold producer operating a hub-and-spoke platform in Antioquia, Colombia. Its core operating asset is the 100%-owned El Bagre Complex, which includes the producing Cordero underground mine and 450 tpd El Bagre mill. The nearby El Limon mill adds a further 225 tpd of installed processing capacity.
The investment case is a relatively low-capital production ramp using existing mills, multiple feeder mines, ore sorting and third-party feed. Management targets approximately 50–55 koz of annual gold production in the medium term, compared with roughly 14 koz in the twelve months to Q2 2026. The current NI 43-101 inventory totals approximately 127 koz indicated at 5.9 g/t Au plus 277 koz inferred at 7.4 g/t Au across Cordero and Nechi.
Near-term upside comes from higher-grade Cordero zones, Aurora, Escondida, El Limon and a potential Nechi restart. Regional Zara/Otu exploration and the Tucuma copper-gold interest in Brazil add further optionality.

List of Projects:

Project 1: El Bagre Complex, Antioquia, Colombia — flagship producing gold operation comprising the Cordero underground mine and 450 tpd mill, permitted to 1,000 tpd. Cordero is the principal current feed source.

Project 2: El Limon Complex, Colombia — 225 tpd gold processing plant permitted to 400 tpd; potential feed sources include El Limon, Aurora, Escondida, artisanal/third-party ore and future Nechi material.

Project 3: Aurora and Escondida, Colombia — satellite gold mines feeding the hub-and-spoke model. Aurora is permitted to 75 tpd; Escondida restarted in 2026 and targets approximately 40 tpd.

Project 4: Nechi, Colombia — gold development/restart project comprising El Catorce, Santa Elena and Santa Maria. The project hosts approximately 134 koz Au indicated plus inferred and targets a 250–300 tpd restart in 2027–2028.

Project 5: Zara and Otu Centro Regional Portfolio, Colombia — district-scale gold exploration pipeline along the Otu Fault, including Estrella, Diamantina, Primavera, Porquera, Limoncito Norte, Psyche 1, Psyche 2, Orus, La Aurora and Constancia.

Project 6: Tucuma, Pará, Brazil — 100%-owned copper-gold exploration property optioned to Ero Copper. Ero may earn 100% through staged expenditures and payments.

Weakness

List of projects

Project details have not been added yet.

Deep dive series

Track progress timeline

Forecast share price