In the past month, the Soma Gold Corp (OTCMKTS:SMAGF) stock has been in the middle of a strong downward spiral and during that period the stock has gone down by as much as 20%.
Trading Data
On Tuesday, SMAGF stock ended flat at $0.2571 with 600 shares, compared to its average volume of 9.6k shares. The stock has moved within a range of $0.2571 – 0.2571 after opening trade at $0.2571.
Soma Gold Receives Award For Environmental Sustainability
Despite the losses recorded by the stock during the period, it may be a good move for investors to consider taking a look at the announcement made by the company on Tuesday. The company announced yesterday that back on December 9 its Columbia based subsidiary company OperadoraMinera SAS had been bestowed with the Award for Environmental Sustainability.
The award was in the A Category and had been awarded by the CORANTIOQUIA, Antioquia’s Environmental Authority. The award was a recognition of the fact that OperadoraMinera had gone beyond its remit in order to sustain a environmentally responsible operation.
While it is true that it was a significant development it seems that investors are not particularly bothered about it one way or another. However, at same time, it may be a good idea for investors to consider keeping an eye on the Soma Gold stock over the course of the coming days. A stock trading in a range can often break out strongly as well.
Key Quote
Javier Cordova, Soma’s CEO, states, “It’s encouraging and gratifying for us to receive this recognition in the first year of operating Operadora as a 100% subsidiary of Soma. We are committed to our ESG program, which is a top priority in all our operations. This award demonstrates our commitment not only to comply with all environmental and legal regulations but to exceed them. We are devoted to maintaining a sustainable operation by adhering to best practices in environmental, social and governance policies. For example, Operadora generates its own processing power at its hydroelectric power station. We plant trees to offset our carbon footprint and sponsor on-going programs with local communities to strengthen their social and administrative capabilities.”
