From GlobeNewswire: 2024-11-14 07:00:00

Aya Gold & Silver Inc. announced its Q3-2024 financial and operational results, including the Zgounder Mine expansion progress and silver production figures. Revenue decreased by 6%, but the company maintains a robust financial position with $73 million in cash. Exploration programs have shown positive results, and gold properties will be spun out to Mx2 Mining. Production guidance for 2024 is between 1.6M to 1.8M oz of silver.

Despite challenges in Q3, Aya Gold & Silver is on track to achieve commercial production at Zgounder by year-end. The company’s operational highlights include a total mining rate of 1,315 tpd and the completion of underground development. The open pit mine is performing as planned, and the underground mine is expected to resume high-grade stopes production.

In Q3-2024, Aya Gold & Silver processed 83,352t of ore with a mill recovery of 83.0%, achieving a total production of 355,927 oz of silver. The Zgounder Mine expansion is 99% complete, with commissioning underway. The project is fully funded, with a total capex of $166 million, including growth and sustaining expenses.

Exploration programs in 2024 have yielded positive results, with high-grade mineralization confirmed at depth and in lateral extensions at Zgounder. The Boumadine Main Trend has been extended to 5.4km through drilling. Multiple conductive anomalies have been identified for future drilling. The company revised its production guidance to 1.6 – 1.8Moz for 2024 due to delays in commissioning.

Aya Gold & Silver will host a conference call to discuss its Q3-2024 results on November 14, 2024, at 9 am EST. The company’s focus on maximizing shareholder value through sustainable operations and growth plans is highlighted. The technical information related to the properties was reviewed and approved by a Qualified Person. Forward-looking statements regarding the company’s future growth and business prospects were also outlined.



Read more at GlobeNewswire: Aya Gold & Silver Reports Results for Transition Quarter