Soma Gold Files Mining Permit for Nechí Project to Boost Colombian Output

Soma Gold ( (TSE:SOMA) ) just unveiled an update.

Soma Gold has submitted a PTO mining permit application for its Nechí underground development project in Bolívar, Colombia, a key step toward bringing the asset into commercial production. Nechí, which includes the El Catorce, Santa Elena, and Santa María deposits, has already seen successful test mining, with mineralized material processed at the company’s nearby El Bagre Mill.

Existing underground workings at Nechí are expected to accelerate ramp-up once the permit is approved, with management targeting approval before the end of 2026. The mine is projected to add about 250 tonnes per day of feed to El Bagre, translating into roughly 25,000 additional gold equivalent ounces annually and positioning Nechí as a significant contributor to Soma’s growth strategy in Colombia.

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 SOMA Stock

According to Spark, TipRanks’ AI Analyst, 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 SOMA stock, click here.

More about Soma Gold

Soma Gold Corp. is a profitable gold mining and exploration company focused on operations in Colombia, where it controls over 430 square kilometers of mineral concessions along the OTU fault in Antioquia. The company operates two fully permitted mills, El Bagre and El Limon, with a combined capacity of 675 tonnes per day and funds an ongoing regional exploration program from internal cash flow.

Soma also holds an exploration property near Tucuma in Pará State, Brazil, which is currently under option to Ero Copper Corp., underscoring its broader Latin American growth ambitions. The company emphasizes sustainability and community engagement as core elements of its operating strategy.

Average Trading Volume: 243,564

Technical Sentiment Signal: Buy

Current Market Cap: C$207.8M

For an in-depth examination of SOMA stock, go to TipRanks’ Overview page.