Canadian company Aya Gold & Silver reports record increase in silver production in Morocco, announcing revenues exceeding 347 million dirhams
Aya Gold & Silver, the Canadian operator of the Zgounder mine near Taroudant and the Boumadine mine in Drâa-Tafilalet, has announced a record increase in silver production during the second quarter of 2025, rising by 141% compared to the same period in 2024, resulting in revenues of over 347 million Moroccan dirhams.
The company’s statement indicated that silver production reached 1.04 million ounces, driven by the ramp-up of operations at the new Zgounder plant, which began commercial operations at the end of 2024. The total ore extracted was 241,288 tons, a 24% increase on a quarterly basis, with an average daily processing of 3,005 tons.
Financially, the company recorded record revenues of $38.6 million (equivalent to 347.76 million dirhams), up 182% year-on-year, with a net income of $8.6 million and diluted earnings per share of $0.06. The company noted that the cost of each ounce of silver sold was $21.26, expecting a decrease in this cost during the second half of 2025 as mining operations improve.
The company also mentioned closing financing of CAD 144 million, raising the cash balance for the quarter to $114 million, to support the development of the Boumadine project as a cornerstone of its long-term strategy.
Benoit La Salle, the CEO of the company, expressed satisfaction with the strong performance in production and revenues, confirming that Zgounder will continue to ramp up production and indicating expectations for the release of the preliminary economic study for the Boumadine project later this year, highlighting its potential as a future major production center for the company.
