Soma Gold Corp.

Notable vs. Peers

• Financials score of 1.5/10 is weaker than the peer average of 6.5/10.
• Jurisdiction risk score of 4/10 is meaningfully riskier than the peer average of 7.8/10.
• Trading within 6% of its 52-week low — weak recent price momentum.

Lifecycle Milestones

1. Permit granted

   Aug 2020 · Soma Gold announced the granting of final permits needed to start construction of the Balvina Cordero access portal (issuing authority not named in the release itself). · Source
2. Construction decision (FID)

   May 2020 · No standalone FID/board-approval release was found distinct from the permit/construction-start announcement below; the closest equivalent corporate decision point is Soma's closing of its acquisition of Operadora Mineras S.A.S. (bringing in the El Bagre complex and setting up Cordero as the follow-on development). · Source
3. Construction start

   Aug 2020 · Construction of the Balvina Cordero access portal commenced, per the same permit-grant release above; the company's own project materials describe broader Cordero mine development as beginning September 2020. · Source
4. First pour / production

   Reached — date not disclosed · Soma's Q1 2022 results release states milling of first ore from production stopes at the Cordero Mine began in Q1 2022 (exact day not disclosed) -- the true first-ore/first-gold milestone, distinct from and earlier than "commercial production," which Soma later declared effective January 1, 2023 as a formal ramp-up-complete designation. · Source
5. Commercial production

   Jan 2023 · Genuinely reached with a clean, single, well-documented date: Soma's own disclosure confirms commercial production at the Cordero mine (Colombia) was achieved effective 2023-01-01. Soma's legacy mines (La Ye, Los Mangos) were mined out and decommissioned in early 2023 and are not the basis; the separate El Limon Mill restart (targeting Q4 2026 for its OWN first production) is a distinct, not-yet-reached future initiative, also not the basis. Cordero is Soma's current flagship producing asset. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.