12:19 PM EST, 01/08/2025 (MT Newswires) -- Soma Gold ( SMAGF ) Wednesday said the company produced 27,460 gold-equivalent ounces during 2024, 92% of 2024 budgeted production from its Cordero Mine.

The company is also advancing discussions to purchase up to 200 TPD of mineralized rock mined at the Zancudo Mine, owned by Denarius Metals. This arrangement will begin generating production and cash flow at the company's El Limon Mill, located in Zaragoza, Spain.

"There are a lot of synergies between Soma and Denarius that make sense for both companies to fully utilize El Limon's capacity while Soma ramps up production at the company's mines and Denarius commissions their new mill at Zancudo," says President and CEO Geoff Hampson. "Further updates will be forthcoming once the formal agreement between the companies is finalized."

Soma shares were last seen down $0.01 to $0.55 on the TSX Venture Exchange.

Price: 0.55, Change: -0.01, Percent Change: -1.79