Aya Gold & Silver Inc. reported impressive Q2-2024 results, with record revenue of 13.7 Mln dollars, a 42% increase from Q2-2023, and a boost in cash reserves to 103 Mln dollars.
The company produced 432,667 ounces of silver, a significant gain along with a 12% rise in ore processing compared to the same quarter last year.
In Q2-2024, the company mined 114,025 tonnes of ore, averaging 1,253 tonnes per day, and processed 80,562 tonnes of ore.
The company’s Zgounder Mine expansion is over 95% complete, with commissioning on track for commercial production in Q4-2024.
Aya Gold and Silver also continued its exploration success, doubling the Zgounder drill program to 30,000m for 2024 and extending the Boumadine Main Trend to 5 km through 27,046 meters of drilling.
The Zgounder expansion remains on budget, with the new processing plant 96% complete and the electrical infrastructure fully operational.
the company received the final 15 Mln dollars tranche of its EBRD loan, bringing the total to 100 Mln dollars.
Exploration efforts have shown promising results, with high-grade silver mineralization confirmed at depth at Zgounder and new conductive anomalies identified at Boumadine, indicating further potential for growth.
Aya Gold & Silver Inc., a rapidly growing Canada-based silver producer, operates the high-grade Zgounder Silver Mine in Morocco and is exploring other properties along the South-Atlas Fault.
The company is strategically positioned for continued success with its strong financial performance, robust cash reserves, and ongoing exploration achievements.