Aya Gold & Silver achieves 61% silver output growth in Morocco
The company’s revenues were $13,822,709 in 2020, an increase of 127% from 2019. Net loss was $1,779,590 in 2020 compared to a net loss of $576,513 in 2019.
Monthly mill recovery increased to 78.9% with 677 tonnes per day ("tpd") milled in December 2020. The company launched a feasibility study to assess potential to increase production capacity to 2,000 tpd.
The company expects to produce 1.2 million oz of silver in 2021 at cash cost of $11.28/oz, - an all-time company’s best.
President and CEO Benoit La Salle commented, "We expect to achieve many milestones at Zgounder in 2021 including record silver production of 1.2 million oz in addition to completing our feasibility study and our most extensive drill program yet, enabling us to reach our strategic goal of 100 million oz of silver resources by year-end."
Aya Gold & Silver is currently operating mining and processing facilities at its Zgounder silver mine, an 85%-15% joint venture between its subsidiary, Zgounder Millenium Silver Mining, and the Office National des Hydrocarbures et des Mines of the Kingdom of Morocco.
Aya's mining portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco. Additionally, the corporation's portfolio includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum, and copper occurrences in the center of a historical mining district of Morocco.