Soma Gold Corp. (TSXV: SOMA | OTC: SMAGF | WKN: A2P4DU) - Agreement reached to end strike at El Bagre operation
Overview
Soma Gold Corp. announced it has reached an agreement with Sintramienergetica Nacional to end the strike at its El Bagre operation in Colombia. The resolution follows 88 days of negotiations, 20 meetings, and 57 days on strike, aided by mediation from Colombia’s Vice Ministry of Labor, Sandra Muñoz. The company will analyze the financial impact and update guidance for the balance of the year in the coming days, while guidance for 2026 remains unchanged.
Key Highlights
- Agreement with Sintramienergetica Nacional ends the strike at El Bagre.
- Process involved 88 days of negotiations and 20 meetings.
- Strike duration was 57 days.
- Mediation support provided by Vice Minister Sandra Muñoz.
- Company to update 2025 guidance in the coming days; 2026 guidance unchanged.
Strategic / Operational Context
Management states it looks forward to restarting operations as soon as possible, with the strike resolution removing a key near-term constraint. The company plans to assess the financial impact before issuing updated 2025 guidance, while maintaining its 2026 guidance.
Resources / Financials (include only if present)
- Two fully permitted mills with combined milling capacity of 675 tpd: El Bagre Mill operating at 450 TPD; El Limon Mill slated to restart operations in Q3 2025.
- Over 43 sq. kilometers of mineral concessions along the OTU fault in Antioquia, Colombia; regional exploration financed with internally generated funds.
- Exploration property near Tucuma, Para State, Brazil under option to Ero Copper Corp.
What to Watch Next
- Company’s updated guidance for the balance of the year.
- Timing and progress of the operations restart at El Bagre.
Commentary
Ending the strike removes a labor disruption at El Bagre and sets the stage for operational restart. The forthcoming guidance update will frame the near-term financial impact, while the decision to keep 2026 guidance unchanged provides continuity on medium-term expectations.
About Soma Gold Corp.
Soma Gold Corp. is a profitable mining company focused on gold production and exploration. The company holds over 43 sq. kilometers of concessions along the OTU fault in Antioquia, Colombia, and operates two fully permitted mills with combined capacity of 675 tpd, including the 450 TPD El Bagre Mill and the El Limon Mill targeted for restart in Q3 2025. Soma is funding a regional exploration program from internally generated cash and also holds an exploration property near Tucuma, Para State, Brazil that is under option to Ero Copper Corp.
ArcStone Financial Pulse Team
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