The Q2 production was 6,952 gold-equivalent ounces which took H2 production to 12,054 AuEq oz, which compared to the plan for the period of 10,845 oz.
"It's gratifying to see the Cordero mine in production and the grade higher than expected. The underground mining equipment acquired by Soma, which will be delivered this summer, will ensure that production continues to ramp up," Soma's executive chairman Geoff Hampson said.
"Once total mine production exceeds 600 tpd, we will restart the El Limon mill, and monthly gold production will increase commensurately.
"At the current level of production of approximately 2,500 ounces per month at current market prices, the mine generates an estimated US$2 million in EBITDA per month. We expect EBITDA to further grow with the expected increase in production," he added.
Soma owns two adjacent mining properties in Antioquia, Colombia, with an installed and fully permitted milling capacity of 675 tpd.
Soma's share price was C$0.31 (US$0.24) on July 5. The company has a market capitalization of C$26.4 million.
