Northwire Canada EditionTuesday, November 3, 2026
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Gold 3,969.60 +1.8% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 96.46 −7.4% Palladium 962.50 −2.5% QRO 0.030 +0.0% PGC 0.030 +0.0% SASK 0.840 −2.3% GIGA 0.050 +0.0% WDO 26.12 +2.2% ERO 40.76 +0.2% BIRD 0.160 −13.5% ODV 3.20 −1.8% FVI 12.72 +3.1% SRI 0.015 + BTR 0.125 +4.2% NVO 0.065 +8.3% BTT 0.110 +4.8% MUX 19.55 +0.8% SCD 0.150 +0.0% PPX 0.220 +0.0% Gold 3,969.60 +1.8% Silver 50.89 +3.3% Copper 6.54 +0.9% Oil 96.46 −7.4% Palladium 962.50 −2.5% QRO 0.030 +0.0% PGC 0.030 +0.0% SASK 0.840 −2.3% GIGA 0.050 +0.0% WDO 26.12 +2.2% ERO 40.76 +0.2% BIRD 0.160 −13.5% ODV 3.20 −1.8% FVI 12.72 +3.1% SRI 0.015 + BTR 0.125 +4.2% NVO 0.065 +8.3% BTT 0.110 +4.8% MUX 19.55 +0.8% SCD 0.150 +0.0% PPX 0.220 +0.0%
Production / Operations Routine +

SOMA GOLD ANNOUNCES PRODUCTION AND DELIVERY FROM THE ESCONDIDA MINE IN COLOMBIA

Soma restarts small-scale Escondida operations, though grade dilution and cash burn present near-term challenges for the project.

By The Northwire Desk — AI Analysis Jun 08, 2026 · 13:14 SOMA · 0.88 Soma Gold Corp.
Executive Summary
  • Soma Gold has commenced shipments of mined material from the Escondida Mine to its El Bagre Gold Complex following Phase 1 underground rehabilitation.
  • Initial production is running at 10 tonnes per day (TPD).
  • Planned ramp-up targets 20 TPD in H2 2026, scaling to the permitted capacity of 40 TPD by Q1 2027.
  • Deliveries from the Aurora Mine are expected to commence within weeks.
  • Improved grades at the Cordero Mine are anticipated to bring El Bagre gold production to previously anticipated Q1 levels.
  • Phase 2 portal repair work is ongoing due to recent flooding.
  • A potential mining license expansion is pending results from an ongoing drilling program on the Escondida property.
  • Additional feed material continues to be sourced from Lemoncito Norte, El Limon, Diamantina, and other formalized regional mining operations.
Material Impact
  • This is a Routine - Positive update. The Escondida restart was telegraphed in prior operational updates and the April production forecast.
  • The 10 TPD initial rate is immaterial to total mill throughput (450 TPD) and will not immediately offset the Q1 grade decline or cash burn.
  • The market's revealed expectation, as shown by the stock's ~64% decline from its January high to $0.88, is focused on execution risk, grade dilution, and liquidity rather than small satellite mine restarts.
  • The news confirms operational progress but does not re-rate the business or materially alter the near-term financial trajectory.
SOMA · Price
Company Overview
  • Soma Gold is a producing gold miner operating in Antioquia and Bolívar, Colombia.
  • Core assets include the El Bagre Complex (Cordero underground mine), El Limon Mill, and the developing Nechi Project.
  • The company is actively formalizing artisanal miners and integrating small-scale operations (Escondida, Aurora, Diamantina) into its feed supply chain.
  • Strategic focus includes implementing sensor-based ore sorting to increase throughput without expanding plant capacity, targeting a medium-term production run rate of 60,000–70,000 ounces annually.
Read the original news release →

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Nov 02, 2026 · 04:20

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Financings Sep 15, 2026 · 04:20

Soma reports high-grade near-mine vein intersections at Cordero, though the results are insufficient to alter the company's distressed producer narrative.

Drill Results Aug 28, 2026 · 18:02

Soma’s Colombia operations saw grades collapse, slashing cash margins below US$1,000/oz and widening losses.

Earnings Aug 18, 2026 · 04:20

Soma’s first Escondida hole confirms a vein, intersecting 0.65 m at 12.1 g/t.

Drill Results Jul 24, 2026 · 04:20

Aurora’s permit increase to 75 tpd offers a bright spot despite Q1 carnage and dilution casting a long shadow.

Production / Operations