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Soma Gold ( (TSE:SOMA) ) has shared an update.
Soma Gold Corp. has successfully completed the final tranche of its non-brokered private placement, raising a total of CAD$17.25 million. The funds will be used for mill expansion, ore sorting infrastructure, and accelerated exploration and development of the Nechi mine. This oversubscribed financing, which included strategic investors, provides Soma Gold with the flexibility to advance its growth plans and build long-term shareholder value.
The most recent analyst rating on (TSE:SOMA) stock is a Hold with a C$1.50 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.
Soma Gold’s overall stock score is driven by its solid financial performance, characterized by strong revenue growth and improving profitability margins. However, technical analysis indicates short-term bearish momentum, and the valuation is moderate. The absence of a dividend yield and reliance on debt financing are potential concerns.
To see Spark’s full report on TSE:SOMA stock, click here.
More about Soma Gold
Soma Gold Corp. is a profitable mining company focused on gold production and exploration. It owns over 43 square kilometers of mineral concessions in Antioquia, Colombia, and operates two fully permitted mills with a combined milling capacity of 675 tpd. The company is committed to sustainability and community engagement and also owns an exploration property in Brazil under option to Ero Copper Corp.
Average Trading Volume: 171,285
Technical Sentiment Signal: Buy
Current Market Cap: C$113.9M
See more insights into SOMA stock on TipRanks’ Stock Analysis page.