Aya Gold & Silver Delivers Record Performance and Profitable Turnaround

Aya Gold & Silver posts $46M net profit in 2025 as Zgounder mine triples production. Company targets 6.2-6.8M oz silver equivalent for 2026 with strong $136M cash position.

Aya Gold & Silver has entered a new phase of growth, closing its 2025 fiscal year with landmark operational and financial results. The company’s transition to profitability, driven by the successful ramp-up of its flagship Zgounder mine in Morocco, has captured strong investor interest and set a robust foundation for future expansion.

Financial Transformation and Market Reaction

The company’s financial metrics tell a compelling story of a decisive turnaround. Annual revenue surged to $202 million, a significant year-over-year increase. This top-line strength translated directly to the bottom line, with Aya Gold & Silver reporting a net profit of $46 million for 2025. This marks a stark reversal from the net loss recorded in the prior year. Investors welcomed this fundamental improvement, sending the share price higher by approximately seven percent to €14.19.

Operational Excellence at the Zgounder Mine

The cornerstone of this success is the exceptional performance of the Zgounder silver mine. For the full year 2025, the company’s total production reached 5.0 million ounces of silver equivalent, representing a threefold increase. The mine consistently outperformed expectations, particularly in the fourth quarter. During this period, the processing plant handled an average of 3,796 tonnes of ore per day, exceeding its nameplate capacity. The operation also achieved a high silver recovery rate of 91.2%, underscoring its operational efficiency.

Strategic Projects Fueling Future Growth

Looking ahead, management has outlined ambitious plans for 2026, targeting a further production increase to a range of 6.2 to 6.8 million ounces of silver equivalent. The company is well-positioned to fund this growth, holding a strong cash position of $136 million to finance ongoing exploration and optimization initiatives.

Cost control remains a key focus. The company aims to maintain all-in sustaining costs at Zgounder at a stable level of approximately $21.50 per ounce. Meanwhile, the developing Boumadine project promises even lower operating costs. A preliminary economic assessment for Boumadine indicates substantial potential, projecting an 11-year mine life and an impressive internal rate of return of 47%. This project has already begun contributing to revenue, with initial sales from pyrite recovery recorded in the final quarter of 2025.

The combination of record-breaking current operations and a clearly defined, promising pipeline suggests Aya Gold & Silver has successfully navigated a pivotal year, positioning itself for sustained value creation.