Revenue for the first quarter of 2026 was $22.5 million, a decrease of 19% from 2025-Q1.
Adjusted EBITDA(1) was $4.7 million, compared to $13.5 million recorded in 2025-Q1, and unadjusted EBITDA(1) was $4 million compared to $12.4 million in the same period last year.
Net loss for the first quarter was $2.1 million, compared to an income of $3.2 million in 2025-Q1
The average realized cash margin(1) was US$1,536 in the current quarter, compared to US$1,642 in 2025-Q1.
Adjusted EBITDA(1) per share was $0.04 in the current quarter, compared to $0.15 in 2025-Q1.
VANCOUVER, BC, May 28, 2026 /CNW/ - Soma Gold Corp. (TSXV:SOMA) (WKN: A2P4DU) (OTC:SMAGF) (the "Company" or "Soma") announces that the Company's Financial Statements and MD&A for the three months ended March 31, 2026 and 2025 have been filed on SEDAR+ and are also available on the Company's website.
Operations Review, Quarter Ended March 31, 2026
Soma sold 3,788 AuEq ounces (2025-Q1 - 6,843 AuEq ounces).
Income from mining operations was $2.8 million (2025-Q1 - $9.8 million).
Net loss for the quarter was $2.1 million (2025-Q1 - income of $3.2 million).
Net loss per share was $0.02 (2025-Q1 - income of $0.03).
Adjusted EBITDA(1) of $4.7 million (2025-Q1 - $13.5 million).
Adjusted EBITDA(1) per share of $0.04 (2025-Q1 - $0.15).
Cordero Operations reported attributable cash costs per ounce of gold sold(1) of US$2,894 (2025-Q1 - US$1,261).
Geoff Hampson, Soma's President and CEO, states, "The Company worked through various operational challenges during Q1 as it resumed operations after the labor strike in Q4 2025. The restart of the El Bagre Mill after the two-month disruption was hampered by several mechanical issues. The labor disruption did not allow the Company to properly put the El Bagre Mill on "Care and Maintenance", making the ramp-up during the restart difficult. Several key systems were damaged due to corrosion and mechanical failure on start-up. Despite these challenges, ...
