Business
Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow
MONTREAL, March 28, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA, OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce financial and o
About this update from Aya Gold & Silver Inc.
[{"type":"text","content":" MONTREAL, March 28, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA, OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce financial and operational results for the fourth quarter and year ended December 31, 2023. All amounts are in US dollars, unless otherwise stated. Annual Highlights Exceeded 2023 production guidance with silver production of 1.97 million ounces (“oz”), a 5% increase from 2022. Ore processed of 281,634 tonnes (“t”) in 2023, a 10% increase from 254,976t in 2022. 493,340t of ore mined in 2023 for an average of 1,352 tonnes per day (“tpd”), a 79% increase from ore mined in 2022. Revenue of $42.8 million in 2023, a 12% increase from 2022. Beat 2023 cash cost guidance by 13% with cost per silver ounce sold of $12.50 in 2023 (1). Cash flow generated by operating activities increased to $21.2 million in 2023, or a 120% increase from $9.6 million in operating cash flow generated in 2022. Robust financial position with $70.3 million of cash, cash equivalents and restricted cash as at December 31, 2023, compared to $41.8 million as at December 31, 2022 (2). Advanced expansion of Zgounder Mine on budget and on schedule for Q2-2024 commissioning. Conducted 17,752 meters (“m”) of diamond drill hole (“DDH”) drilling at Zgounder. Completed 10,900m of DDH on Zgounder Regional and acquired 4 new permits, one of which has a historical copper mine. Advanced development of Boumadine through 74,295m of DDH drilling, initial metallurgical test work, and acquisition of five permits. Signed a renewable-energy Power Purchase Agreement for Zgounder expanded operations and advanced construction of its electrical infrastructure towards operationalization in Q2-2024. Published inaugural Climate Action Report in alignment with the Task Force on Climate-Related Financial Disclosures (“TCFD”), instituted new corporate policies, and reported performance to the 2023 S&P Global Corporate Sustainability Assessment. Ranked 14th on the 2023 TSX30 as a top-performing stock with a 3-year appreciation of 498%. Ranked 12th in the 2024 OTCQX Best 50, a list of top-performing stocks traded on the OTCQX Best Market in 2023. 2024 Outlook and Year So Far Successfully completed a C$77.6 million ($57.3 million) bought-deal public financing. Drew down $25 million from $100 million project facility for Zgounder Mine expansion, w...