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Aya Gold & Silver Reports Final Drawdown on Zgounder Mine Expansion Loan
MONTREAL, June 24, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc(TSX: AYA ; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce that it has compl
About this update from Aya Gold & Silver Inc.
[{"type":"text","content":" MONTREAL, June 24, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc(TSX: AYA ; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce that it has completed its fourth and final drawdown under the previously announced US$100 million project financing facility (the “Facility”) for the expansion of the Zgounder Silver Mine in the Kingdom of Morocco. The Facility is jointly provided by the European Bank for Reconstruction and Development (“EBRD”) and by the Climate Investment Funds through its Clean Technology Fund (“CTF”). The fourth drawdown is in the amount of US$15 million and brings the total drawn to date equal to the total of the available Facility at US$100 million. The final drawdown followed an April technical site visit by the lenders and their technical advisor. Proceeds of this drawdown will be used to further advance the Zgounder Mine expansion project. “This final drawdown marks another significant milestone in our team's systematic derisking of the expansion over the past year. As we finalize Zgounder’s construction work and implement our commissioning process, we are fully funded and on track to achieve commercial production in Q4-2024,” said Benoit La Salle, President and CEO. To see Zgounder’s progress, view its May 2024 construction video here. About Aya Gold & Silver Inc. Aya Gold & Silver Inc. is a rapidly growing, 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. Aya’s management team has been focused on maximising shareholder value by anchoring sustainability at the heart of its operations, governance, and financial growth plans. For additional information, please visit Aya’s website at www.ayagoldsilver.com. Or contact Benoit La Salle, FCPA, MBAPresident & [email protected] Alex Ball VP, Corporate Development & [email protected] Forward-Looking Statements This press release contains certain statements that constitute forward-looking information within the mean...