Morocco strengthens its position in silver production with the Zgounder mine, achieving record performance
The Zgounder mine located in the High Atlas region of Morocco recorded a record silver recovery rate of 88% in May 2025, surpassing expectations in terms of ore processing pace, according to data released by the operating company on Wednesday, June 25.
The Canadian company Aya Gold and Silver (TSX: AYA), which manages the mine, attributed this performance to the accelerated development of the project, particularly through the expansion of the open-pit and the increase in milling capacity, which contributed to raising processing capabilities.
The company’s president, Benoit La Salle, confirmed that the production increase plan is on schedule, noting continuous improvement in technical performance, which enhances the project’s sustainable growth trajectory.
Zgounder is considered a rare mine in terms of silver concentration in Africa, granting it a strategic position in the regional and international mining sector.
Despite strong operational indicators, the assessment of the company’s stock remains a topic of discussion among analysts. The latest price target for the stock has been set at CAD 23, with a clear buy recommendation.
The market capitalization of Aya Gold and Silver stands at CAD 1.82 billion, with an average daily trading volume of approximately 1.16 million shares, reflecting significant investor interest on the Toronto Stock Exchange.
