Canada · Delayed Price · Currency is CAD Aya Gold & Silver Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw record production, revenue, and cash flow, with Zgounder and Boumadine both performing strongly. Guidance for the year is reaffirmed, major growth projects are advancing, and a successful Nasdaq listing has broadened the investor base.
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Record Q1 results with revenue of CAD 117M and net income of CAD 49M, driven by strong silver prices and operational efficiency. Guidance for 2026 is maintained, with robust cash flow, ongoing expansion at Boumadine, and a strong exploration program.
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Morocco is positioned as a premier mining jurisdiction with favorable regulations and infrastructure. The company is rapidly expanding silver production, targeting 43 million ounces by 2029, and advancing a world-class project with strong financials and robust exploration.
Fiscal Year 2025
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2025 saw record revenue, net income, and cash flow, driven by operational ramp-up and plant efficiency. Zgounder and Boumadine projects advanced, with robust production and exploration results, and strong cash reserves enable self-funded growth.
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Q3 2025 delivered record revenue and net income, driven by higher production and silver prices, with strong cash flow and robust operational performance at both Zgounder and Boumadine. Guidance remains on track, with ongoing improvements in grade, throughput, and cost control.
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Boumadine's PEA highlights a low CapEx, rapid payback, and robust economics, with strong production and cash flow projections. The project features significant resource growth potential, flexible mining methods, and secured financing, positioning it as a leading low-cost operation in a favorable jurisdiction.
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A rare pure silver producer in Morocco is rapidly expanding production and resources, leveraging advanced technology and a strong local team. With robust financials, green operations, and government support, it is poised for significant growth, including a major new gold-silver project.
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Operations in Morocco are rapidly expanding, with Boumadine poised to transform the business through a forthcoming PEA and significant resource growth. Strong cash flow, a robust balance sheet, and aggressive exploration underpin a positive outlook into next year.
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Q2 2025 saw record revenue of $38.6M and strong cash flow, with plant ramp-up complete and production guidance reaffirmed. Key focus remains on reducing mining dilution and advancing Boumadine, with a robust cash position supporting growth.
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Q1 2025 saw record revenue, strong profitability, and robust cash flow as the new plant ramped up, with silver production exceeding 1 million ounces and liquidity bolstered by a $25 million EBRD facility. Guidance for production, costs, and recoveries is maintained, with further improvements expected as operational issues are resolved.
Fiscal Year 2024
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Zgounder mine expansion was completed on budget, with 2024 silver output at 1.6M oz and a major shift to open pit mining. 2025 guidance targets 5–5.3M oz silver, lower costs, and major exploration at Zgounder and Boumadine.
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Q3 2024 was a transitional quarter with lower-than-expected silver production due to stope delays and non-recurring costs, but the Zgounder expansion is nearly complete and on budget. Guidance was revised, and operational improvements are expected in Q4.
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A unique pure-play silver producer is rapidly expanding resources and production in Morocco, leveraging experienced leadership, strong government relations, and ESG-focused operations. Major investors are showing increased interest as the company targets significant growth and cost advantages.
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Focused on silver production in Morocco, the company is nearing commercial operation at its expanded Zgounder mine and rapidly advancing the Boumadine polymetallic project. Major exploration and land expansion efforts are underway, with strong ESG practices and a clear growth strategy.
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Q2 2024 saw a 42% year-over-year increase in silver production, strong cash flow, and major progress on the Zgounder expansion, which is 95% complete and on budget. Exploration at Zgounder and Boumadine accelerated, with robust financials and guidance reaffirmed.