Aya Gold & Silver Reports Strong Q2-2025 Results

Executive Summary

• Aya reported record Q2‑2025 results: $38.6 M revenue (↑182% YoY) and net income of $8.6 M, driven by 1.04 M oz Ag production from the newly ramped‑up Zgounder plant.
• Completed a C$144 M bought‑deal equity financing (10.77 M shares at C$13.35), leaving cash of $114 M to fund Boumadine development and corporate purposes.
• Significant drilling progress: 33,510 m at Boumadine and 5,915 m at Zgounder; identified a new gold‑copper target (Asirem) and expanded land packages at both projects.

Key Details

• Production & Operations
• Silver output: 1.04 M oz (↑141% YoY).
• Ore processed: 273,471 t (avg. 140 g/t Ag), mill availability 98%, combined recovery 86.5% (June 92%).
• Ore mined: 241,288 t (↑24% QoQ); strip ratio 14:1; two‑thirds open‑pit, one‑third underground.
• Financial Performance
• Revenue: $38.6 M (↑182% YoY).
• Cash cost per oz sold: $21.26 (↑19% YoY).
• Operating cash flow: $7.8 M; capital expenditures $11.8 M (Zgounder $8.3 M, exploration $3.5 M).
• Net income: $8.6 M; diluted EPS $0.06 (includes $1.8 M one‑time gain and $4.0 M impairment recovery from Mx2 transaction).
• Financing
• Equity bought‑deal: 10,767,795 common shares at C$13.35 each → gross proceeds C$144 M ($105 M USD).
• Use of proceeds: primarily Boumadine project development; remainder for general corporate purposes.
• Cash balance end‑quarter: $114 M.
• Exploration & Development
• Boumadine drilling: 33,510 m in Q2 (79,716 m YTD); confirmed continuity of mineralization across multiple zones.
• New gold‑copper zone “Asirem” identified; drill testing planned H2 2025.
• Zgounder near‑mine & regional drilling: 5,915 m in Q2 (9,889 m YTD); target generation and land acquisition ongoing; six new permits added (+12% to 452.7 km²).
• Land package expansions: Boumadine now 314.5 km² after four new licenses.
• Other Highlights
• Received $8 M payment under bank guarantees from EPC contractor Duro Felguera (contractual breach compensation).
• ESG activities: 100% incident analysis, 4,121 h training; published 2024 Sustainability Report; first UN Global Compact annual report.
• Outlook: Anticipated Boumadine PEA later in 2025; continued ramp‑up of Zgounder plant; target cash cost $15–$17.5/oz and production 5.0–5.3 Moz Ag annually.

Notable Quotes

• “We delivered record revenues and strong operating performance… We remain fully committed to achieving our 2025 objectives.” – Benoît La Salle, President & CEO
• “Excited about upcoming catalysts, particularly the release of the Boumadine PEA later this year…” – Benoît La Salle

The release contains forward‑looking statements regarding production targets, cost reductions, and project timelines.