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Gold & silver

Soma Gold temporarily suspends operations at El Bagre mine in Colombia

Soma Gold Corp. (TSX-V:SOMA, OTCQX:SMAGF) has announced the temporary suspension of mining and processing activities at its El Bagre mine and mill in Antioquia, Colombia, due to a community blockade.

The local community's action, which Soma told investors was driven by frustration over delays in road maintenance and paving, began on July 3 and has restricted access for employees and supplies, pushing the site into care-and-maintenance status.

"We are actively collaborating with the local community and are confident that a solution will be achieved in the coming days," said Geoff Hampson, Soma's CEO.

Despite Soma and municipal authorities working on a cost-sharing plan to pave approximately 3.5 kilometers of regional road, the community has voiced dissatisfaction with the progress. Soma has managed to negotiate access for critical supplies, security, and maintenance crews to ensure essential operations continue. Discussions are ongoing, with all parties aiming to resolve the situation quickly.

"While the blockade has caused a temporary production halt, we anticipate accessing a higher-grade area of the mine in the second half of the year and remain optimistic about meeting our full-year production targets at Cordero,” Hampson added.

Soma recently completed a planned maintenance shutdown of the El Bagre mill, successfully rebuilding the ball mill, and resumed operations in late June.

In Q2 2024, the company produced 6,590 gold equivalent (AuEq) ounces and sold 7,209 AuEq ounces, with total sales for the first half of the year reaching 14,233 AuEq ounces, nearly meeting the planned 14,277 AuEq ounces.

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