08:04 AM EDT, 05/29/2025 (MT Newswires) -- Soma Gold ( SMAGF ) on Thursday said it swung to a profit the first quarter following an increase in revenue driven by higher gold prices.

The company posted a net income of $3.2 million, or $0.03 per share, reversing a loss of $170,399, or nil per share. Revenue rose to $27.9 million from $19.3 million as the average realized gold price jumped to US$2,903 per ounce from US$2,087 per ounce.

Gold production fell to 6,579 ounces from 7,263 ounces and silver production was down to 8,159 ounces from 8,889 ounces. Soma said the planned re-commissioning of the El Limon mill in Colombia is scheduled in June, leading to an expected increase in gold production during the second half.

Soma's share price rose 4.9% on Wednesday to $1.07 on the TSXV.