Aya Gold & Silver Enters Into an Agreement to Sell Azegour to Sama Resources
Aya sold its Azegour project to Sama Resources, reinforcing its focus on core Moroccan silver and polymetallic assets.
Aya Gold & Silver Inc. (AYA) has entered into a term sheet to sell its Azegour brownfield copper, tungsten, and molybdenum project in Morocco to Sama Resources Inc. The consideration for the transaction is entirely in common shares of Sama, representing up to 19.11% of Sama's issued and outstanding shares post-issuance.
The deal transfers two mining licenses and two exploration permits, along with associated intellectual property and a one-year transitional support period. Closing is subject to a definitive agreement and regulatory approvals. Management frames the move as portfolio streamlining to focus on core Zgounder and Boumadine priorities while retaining upside exposure to Azegour through the equity stake.
Aya Gold & Silver Inc. (AYA) has agreed to sell its Azegour asset as part of a strategic portfolio optimization. The transaction removes a non-core, early-stage polymetallic asset from the company’s balance sheet, a move designed to reduce administrative overhead and limit exploration dilution. Rather than serving as a financial inflection point, the sale aligns with management’s stated strategy of consolidating a dominant Moroccan platform centered on the Zgounder and Boumadine projects.
As part of the deal, Aya will receive equity consideration worth up to 19.11% of Sama, providing indirect exposure to another Moroccan asset without an immediate cash outlay or dilution to Aya shareholders. The transaction does not alter the company’s near-term production, cash flow, or cost structure.
Aya Gold & Silver Inc. (AYA) operates the Zgounder silver mine in Morocco's Anti-Atlas region, a move that transitions the company from a single-asset producer to a multi-asset platform. Its core assets include the producing Zgounder mine and the development-stage Boumadine polymetallic project, which targets copper, gold, silver, zinc, and lead.
The company holds an extensive exploration portfolio across Morocco totaling approximately 991 km². This portfolio includes recently acquired ground in Zagora, Agadir-Melloul, and Goulmim. Jurisdiction risk is considered low, as Morocco is a Tier 1 mining destination characterized by a stable regulatory framework and strong government support for the mining sector.