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Soma Gold ( (TSE:SOMA) ) has provided an announcement.
Soma Gold Corp. has successfully closed the first tranche of its non-brokered private placement, raising approximately CAD$15.5 million. The funds will be used for mill expansion, ore sorting infrastructure, exploration, and development of the Nechi mine, as well as general working capital. The company also completed a CAD$10 million debt settlement into units, further supporting its strategic growth initiatives.
Spark’s Take on TSE:SOMA Stock
According to Spark, TipRanks’ AI Analyst, TSE:SOMA is a Neutral.
Soma Gold’s overall score reflects strong corporate events and solid financial performance, tempered by technical indicators suggesting bearish momentum. The company’s strategic initiatives and environmental achievements are significant positives, while reliance on debt financing and lack of dividend yield are notable risks.
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.
Average Trading Volume: 169,306
Technical Sentiment Signal: Buy
Current Market Cap: C$110.1M
Find detailed analytics on SOMA stock on TipRanks’ Stock Analysis page.