• Thieves have stolen a gold doré from Soma Gold’s (TSXV:SOMA) La Ye Mine in Colombia 
  • On June 10th, a brazen group of armed individuals entered the mine site just after workers had poured the gold but before the doré had been transported out of the mine
  • Using today’s gold price of C$2,359.91 per ounce, the bar has a theoretical value of roughly $1.12 million
  • As the gold is fully insured, the company expects to make a full recovery from the incident
  • Soma Gold (SOMA) is in the grey and is trading at 23 cents per share 

Thieves have stolen a gold doré bar from Soma Gold’s (TSXV:SOMA) La Ye Mine in Colombia. 

On June 10th, a brazen group of armed individuals entered the mine site just after workers had poured the gold but before the doré had been transported out of the mine.

The gold is normally transported via helicopter out of the mine to the company’s refinery in Medellin.

The company has reported that no employees were injured in the attack, but thieves managed to make off with a bar, which contained approximately 475 equivalent gold ounces.

Using today’s gold price of C$2,359.91 per ounce, the bar has a theoretical value of roughly $1.12 million.

Soma has stated that the police and the Colombian military have since visited the mine and an active investigation is now underway.

Soma has also stated that all the gold is fully insured and that it expects a full recovery from the theft. 

On June 4, Soma announced it had acquired Operadora Mineros, for a price of approximately $14.96 million. On that date, Soma assumed full operational control of Operadora, and by extension, the El Bagre mine.

CEO of Soma Gold, Javier Cordova has stated that the thieves took advantage of a change in the protocols during the transition.

Consequently, the company has instituted new protocols and a full security review is underway. 

Soma Gold (SOMA) is the grey and is trading at 23 cents per share at 12:45 pm EDT. 

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