Soma Gold (TSX-V:SOMA) is actively engaged in several mergers and acquisitions discussions, anticipated to unfold over the next two months, while simultaneously recommissioning its El Limon mill in Colombia. Soma Gold is a precious metals producer and explorer with over 43 square kilometres of mineral concessions and two fully-permitted mills. The company’s mills are located within 25km of each other, offering a combined mining capacity of 675 tonnes per day.
According to CEO Geoffrey Hampson, the El Limon mill has been under care and maintenance since 2020 but can restart operations once production from the Codero Mine exceeds the El Bagre Mill’s capacity. The El Bagre mill can process 450 tonnes per day at full capacity and has permits up to 1,000 tonnes per day. Hampson noted that recommissioning the mill would add 40% additional capacity without major capital expenditure.
In September 2025, Soma Gold anticipates the permitting of the Nechi Mine, which is expected to add 20,000 to 25,000 ounces per year to its production. The company also plans to install ore sorting equipment in the fourth quarter of 2025, which is projected to substantially increase the average head grade. Parallel to these activities, Soma Gold has commenced a new NI 43-101 Technical Report and resource estimate, incorporating results from an upcoming drilling program into the mineral resource assessment.
The Nechi Project, situated 250km from Medellín, comprises three deposits hosted in diorite to granodiorite rocks. Test mining has been conducted at the El Catorce and Santa Elena deposits, with material processed at the El Bagre Mill. The Nechi deposits offer the potential to increase throughput and extend the operational life of the El Bagre Gold Mining Complex.
