Soma Gold Corp. recently announced its second-quarter financial results and operating highlights for 2024, showcasing some key achievements and numbers. The company reported buying 7,209 AuEq oz in Q2-2024 and a total of 14,233 AuEq oz in the first six months of the year. This marked a slight decrease from the previous year’s numbers.

In terms of income, Soma saw a significant increase, reporting $22.7 million for the quarter and $42.0 million for the first half of the year. EBITDA for the quarter stood at $7.5 million, with $13.6 million for the six months ended June 30, 2024. The overall money prices per ounce of gold bought were also higher, with $1,340 for the quarter and $1,263 for the first half of the year.

Despite some challenges, including a maintenance shutdown of the El Bagre Mill in the second quarter, Soma remained optimistic about its outlook for the rest of 2024. The company plans to continue exploration, expand mining operations, and finalize plans for new mines to increase production and revenue.

Geoff Hampson, President and CEO of Soma, expressed confidence in the company’s transition to traditional mining methods and highlighted upcoming projects that are expected to contribute to a strong finish for the year. Hampson also mentioned the progress made by the exploration team in identifying high-priority targets for future drilling and resource expansion.

Soma Gold Corp. is a mining company focused on gold production and exploration in Colombia. The company owns two mining properties in Antioquia with a combined milling capacity of 675 tpd. Additionally, Soma owns an exploration asset in Brazil that is currently under solution to Ero Copper Corp.

Overall, Soma Gold Corp.’s second-quarter financial results and operating highlights demonstrate the company’s commitment to excellence and sustainable operations. With a solid strategy in place for the remainder of 2024, Soma is poised for continued success in the gold mining industry.