Soma Gold advances small-mine formalization and mill expansion in Colombia

Soma Gold ( (TSE:SOMA) ) has shared an update.

Soma Gold has received the first shipment of ore from the newly formalized Diamantina small mine to its El Limon mill in Zaragoza, marking the first of 24 small operations it aims to bring under legal agreements on its Colombian property. The company expects more small mines to complete formalization this year, supporting its strategy to boost throughput at El Limon alongside ore from its Aurora and Escondida mines.

To further expand capacity, Soma is installing ore sorting technology at its El Bagre mill, which is expected to lift processing rates from 450 tonnes per day to as much as 750 tonnes per day in the second half of 2026. The company is also nearing submission of a key permit for the Nechi mine, projected to add 250 tonnes per day of feed and about 25,000 gold equivalent ounces annually once in production.

Management acknowledged that 2025 output of 18,670 gold equivalent ounces fell short of expectations due to a two-month strike and subsequent restart challenges, though it says mechanical issues have been resolved and normal operations have resumed. The board has also approved a package of stock options, restricted share units and deferred share units for directors, officers and employees under its equity incentive plan.

The most recent analyst rating on (TSE:SOMA) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Soma Gold stock, see the TSE:SOMA Stock Forecast page.

Spark’s Take on TSE:SOMA Stock

According to Spark, TipRanks’ AI Analyst, TSE:SOMA is a Neutral.

The score is driven primarily by mixed financial performance: strong operating margins and solid cash conversion are offset by declining revenue, falling free cash flow, and high leverage. Technicals are supportive due to a clear uptrend, but overbought momentum indicators raise near-term pullback risk. Valuation is only fair given the P/E and lack of dividend yield data.

To see Spark’s full report on TSE:SOMA stock, click here.

More about Soma Gold

Soma Gold Corp. is a Canadian gold mining company operating in Colombia, focused on underground gold production and processing through its El Limon and El Bagre mills. The company’s strategy includes integrating small-scale miners on its 43,000-hectare land package via formalization agreements to secure additional ore feed and increase overall production.

Average Trading Volume: 237,667

Technical Sentiment Signal: Buy

Current Market Cap: C$243.1M

For a thorough assessment of SOMA stock, go to TipRanks’ Stock Analysis page.