11:48 AM EDT, 04/17/2025 (MT Newswires) -- (Updates shares.)

Soma Gold (SOMA.V) said Thursday that its gold-equivalent production dropped in the first quarter.

The company produced 6,643 ounces of gold equivalent, down from 7,335 ounces last year, but in line with the budgeted ounces.

The company expects gold production to be higher in the second half as the average grade increases and El Limon begins production.

"The strong gold price has allowed Soma to build cash reserves in excess of operational, exploration, and capex needs, and we are applying the surplus to reduce debt on an accelerated basis," said Geoff Hampson, Soma's president and CEO. "We are on track for a strong 2025 and beyond."

Soma's shares were last seen down $0.07 to $0.79 on the TSX Venture Exchange.

Price: 0.81, Change: -0.05, Percent Change: -5.81

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