Highlights:
Production, revenue, and net income were negatively affected by the labor disruption, which shut down operations from September 9 through November 5, 2025, resulting in a loss of 22 production days in Q3.
Revenue for Q3 2025 was $18.1 million, and $69.0 million for the nine months ended September 30, 2025 – an increase of $4.6 million (7%) compared to the nine months ended September 30, 2024, despite the work stoppage.
Net income was $0.4 million in Q3 and $5.2 million for the nine months ended September 30, 2025, compared to $0.6 million for the nine months ended September 30, 2024, despite the work stoppage.
EBITDA(1) was $6.2 million for the quarter and $27.8 million for the nine months ended September 30, 2025, compared to $22.7 million for the same nine-month period in 2024, despite the work stoppage.
EBITDA(1) per share was $0.06 in Q3 and $0.29 for the nine months ended September 30, 2025 – an increase of $0.04 per share (16%) compared to the same period in 2024.
Soma sold 4,068 AuEq ounces in Q3 and 16,111 ounces in the nine months ended September 30, 2025, compared to 20,845 ounces sold in the first nine months of 2024.
The average realized cash margin per gold ounce sold(1) was US$1,676 in Q3 and US$1,643 for the nine months ended September 30, 2025 – an increase of $585 (55%) compared to the same period in 2024.
In Q3, Soma raised gross proceeds of $17.3 million in a private placement by issuing 14,997,826 units at $1.15 per unit (see news release dated August 20, 2025).
The Company made cash payments of $5.0 million towards its long-term debt and converted an additional $10.0 million of the loan to equity on the same terms as the private placement (see news release dated August 18, 2025).
VANCOUVER, BC, Nov. 28, 2025 /CNW/ – Soma Gold Corp. (TSXV:SOMA) (WKN: A2P4DU) (OTC:SMAGF) (the “Company” or “Soma”) is pleased to announce that its Financial Statements and MD&A for the three and nine months ended September 30, 2025 and 2024 have been filed on SEDAR+ and are also available on the Company’s website.
Operations Review – Nine Months Ended September 30, 2025
The Company’s unionized workers at its El Bagre Gold Mining Complex were on strike from September 9 until a new agreement was reached on November 5. Operations there were halted during this period, including 22 production days in the current quarter (see news release dated November 5, 2025). The shutdown also resulted in …
Leave a Reply
You must be logged in to post a comment.