Make Kitco Your Homepage

Soma Gold reports record monthly gold production in May

Kitco News

Editor note Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Soma Gold (TSXV: SOMA) announced on Tuesday that the company produced 3,035 gold equivalent ounces in May, which is a monthly record.

Soma said that gold recovery for the month was 88.0%, adding that the trend of improving gold recovery rates continues, with a progression from 86.7% in 2021, 87.2% in 2022, to the current year-to-date rate of 88.6% in 2023.

President and CEO Javier Cordova commented, “The Cordero mine is operating according to the planned production schedule while maintaining development work one year ahead of mining activities. We are also making good progress on our objective of improving recovery by increasing the rate at the mill by nearly 2% during the past two years.”

Soma Gold is a mining company focused on gold production and exploration. The company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd (permitted for 1,400 tpd). The El Bagre mill is currently operating and producing.

The company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper.

Copper production in Peru up 30.5% in April as Quellaveco ramps up output, ministry says

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.