12:06 PM EDT, 08/29/2025 (MT Newswires) -- (Updates prices.)

Soma Gold ( SMAGF ) said overnight Thursday that it swung to a profit in the second quarter.

The Colombia-focused company posted net income of $1.6 million, or $0.02 per share, reversing the year-ago loss of $442,675, or nil per share.

Revenue inched up to $23.0 million from $22.7 million while adjusted EBITDA rose to $8.9 million from $7.6 million.

Gold production fell to 5,330 ounces from 6,513 ounces while silver production dropped to 6,284 ounces from 8,737 ounces.

"The second quarter's production numbers were below target due to a combination of lower average-grade ore and mechanical issues at the El Bagre mill," chief executive Geoff Hampson said. "These issues have now been resolved and are not expected to reoccur, as construction of the new 20X20 leach tank has been completed."

Meanwhile, Soma said the El Limon mill is now operational. Total annual production from both mills is expected to increase to between 9,000-12,000 ounces per year, the company said.

Soma's share price at last look fell $0.18 to $1.25 on the TSX Venture Exchange.

Price: 1.24, Change: -0.19, Percent Change: -13.29