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Soma Gold Announces Financial Results for the Quarter Ended September 30, 2020
Soma Gold Announces Financial Results for the Quarter Ended September 30, 2020 ...
About this update from Soma Gold Corp.
[{"type":"text","content":"\n \n \n \n Soma Gold Announces Financial Results for the Quarter Ended September 30, 2020\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 25, 2020\n \n \n \n \n \n \n REVENUE OF\n \n $11.1 MILLION\n \n , NET PROFIT OF\n \n $668,000\n \n AND ADJUSTED EBITDA\n \n (1)\n \n OF\n \n $3.5 MILLION\n \n FOR THE QUARTER\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 25, 2020\n \n /CNW/ -\n \n Soma Gold Corp.\n \n (formerly Para Resources Inc.) (the \"Company\" or \"Soma\") (TSXV: SOMA) (WKN: A2P4DU) (OTC: PRSRF) is pleased to announce that the Company has produced its first quarterly net profit.\n \n \n \n Highlights of the Three and Nine Months to\n \n September 30, 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Tons mined in quarter of 33,267 tons against plan of 38,064 tons and Tons milled of 36,920 tons against plan of 37,141 tons\n \n \n Revenue of\n \n $11,056,402\n \n made up of quarterly gold sales of 4,427 ounces at an average price of\n \n US$1,874\n \n per ounce against the 2020 forecast of 3,530 ounces at an average price of\n \n US$1,400\n \n per ounce.\n \n \n Net income for the quarter of\n \n $667,691\n \n \n \n Adjusted EBITDA\n \n (1)\n \n for the quarter of\n \n $3,499,849\n \n \n \n 2,957 meters of diamond drilling to expand the resource\n \n \n Working capital swung from negative\n \n $8,043,792\n \n as at\n \n December 31, 2019\n \n to positive\n \n $648,143\n \n at the end of Q3\n \n \n Cash at the end of the quarter of\n \n $4.8 million\n \n \n \n The full Q3 Financial Statements and Management Discussion and Analysis are available on SEDAR via the following link:\n \n https://bit.ly/3nVdVXv\n \n \n \n \n \n Geoff Hampson\n \n , Soma's ...