Sub-Sahara Mining & Industrial Journal
Mining News

Aya boosts silver production 219% in Morocco, generates record operating cash flow in Q2

Aya Gold & Silver (TSX: AYA), the only TSX-listed pure silver mining company, announced Friday that its silver production in Morocco was 439,149 ounces (“oz”) in Q2 2021, a 219% increase from Q2 2020.

The company’s silver sales were 419,997 oz in Q2 2021, a 263% increase from Q2 2020; revenue was $9.9 million in Q2 2021, a 384% increase from Q2 2020;
operating cash flow for the period was $5.5 million, compared with negative operating cash flow in Q2 2020.

The company also reported operating income of $2 million in Q2 2021 (Q2 2020: operating loss of $1.4 million) and net earnings of $250,693 (Q2 2020: net loss of $1,194,493).

The company said it has achieved record quarterly production that contributed to record operating cash flow for a third consecutive quarter.

“Zgounder continued to deliver exceptional step-out drill results that extend the strike east and offer potential to grow the resource beyond its current resource envelope. With the Algold acquisition closed, we have opportunistically broadened our portfolio of near-production development assets,” added Benoit La Salle, President and CEO.

Aya Gold & Silver is a Canada-based silver producer with operations in the Kingdom of Morocco. The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder silver mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit gold project in Mauritania, which is being advanced to feasibility.

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