Aya Gold & Silver Advances Boumadine Project
Aya’s Boumadine feasibility study is on track while Zgounder ramp-up delivers record cash flow.
Aya Gold & Silver Inc. (AYA) has issued a progress update regarding the Boumadine Project Feasibility Study (FS) and the Updated Preliminary Economic Assessment (PEA). Infill drilling is proceeding according to schedule, with 102,111 meters completed year-to-date toward an annual target of 360,000 meters.
The company has pre-qualified mining contractors, with a competitive tender for the mining services contract expected to conclude in the first half of 2027. Engineering work related to water, power, metallurgy, and logistics is currently underway. Additionally, early works, including the construction of a project access road, are planned to begin by year-end.
The Updated PEA is on track for release in the second half of 2026. This assessment will incorporate an updated resource model, a revised mine plan, and current market assumptions, including strong sulfur demand. The full completion of the Feasibility Study is targeted for the second half of 2027.
Aya Gold & Silver Inc. will release its second-quarter 2026 financial results on August 13, 2026.
Aya Gold & Silver Inc. (AYA) released a routine operational and development update confirming that the Feasibility Study (FS) and Preliminary Economic Assessment (PEA) timelines for its Boumadine project remain intact, with drilling progressing efficiently. The company did not disclose any new financial guidance, production changes, or shifts in capital allocation.
The market has already priced in the FS timeline and recent production beats for the first and second quarters of 2026. The announcement reinforces management credibility and the development pipeline but does not alter the near-term valuation thesis.
Aya Gold & Silver Inc. (TSX/NASDAQ: AYA) operates the Zgounder Silver Mine and is developing the Boumadine Polymetallic Project, both located in the Kingdom of Morocco. The jurisdiction is ranked highly for mining investment attractiveness, featuring a stable fiscal regime that includes a 0-3% royalty, a 32% corporate tax, and a MAD 30/tonne mining tax.
The company is led by President and CEO Benoit La Salle, who brings extensive West African mining experience from his time at SEMAFO. The board of directors includes independent directors with deep expertise in mining and finance. In its 2025 Sustainability Report, Aya Gold & Silver highlighted a 50% reduction in freshwater use intensity and a 26% increase in employee training, alongside the integration of ESG metrics into executive compensation.