Aya Gold & Silver Inc. · TSX:AYA
Aya Gold & Silver — Investor Presentation (September 2023)
33 slides from Aya Gold & Silver's investor presentation, Sep 12, 2023
Slide 1: Building the Largest Pure-Play Silver Producer Globally
Investor Presentation September 2023 Building the Largest Pure-Play Silver TSX: AYA | OTCQX: AYASF Producer Globally TSX: AYA; OTCQX: AYASF
Slide 2: Forward-Looking Statement
Forward-Looking Statement The Zgounder Expansion Feasibility Study (“FS”) is based on a technical report entitled “NI43-101 produce new resources estimates, and exploration results, including deposit size, quantities, grades TECHNICAL REPORT – FEASIBILITY STUDY ZGOUNDER EXPANSION PROJECT”, originall
Slide 3: Agenda: AYA
AYA 1 AYA 2 Zgounder Silver Mine 3 Exploration 4 Catalysts TSX: AYA; TSX:OTCQX: AYA; OTCQX: AYASFAYASF 3
Slide 4: AYA – Africa's Dominant Silver Producer
AYA – Africa’s Dominant Silver Producer Morocco- Significant Upside Climate Financial and focused growth profile optionality change management Producing, developing Expanding Zgounder Large mineral resource leadership strength and exploring in an Silver Mine to an base and aggressive Clear, near-ter
Slide 5: AYA – Proven Management Team
AYA – Proven Management Team Benoit La Salle, FCPA, MBA Mustapha Elouafi Ugo Landry-Tolszczuk Elias Elias President & CEO, Director President-Managing Director, Chief Financial Officer Vice-President, Legal & Morocco Corporate Secretary Benoit has over 25 years of experience as a corporate Mustapha
Slide 6: AYA – Board of Directors
AYA – Board of Directors Benoit La Salle, FCPA, MBA Robert Taub Natacha Garoute, CPA, CA Yves Grou, CPA, CA President & CEO, Director Chair Director Director Benoit has over 25 years of experience as a corporate Robert is an entrepreneur in life sciences and investor in Natacha has more than 20 year
Slide 7: AYA – Our History
AYA – Our History Zgounder flotation +700 tpd mill capacity Imiter bis, Amizmiz, plant commissioned achieved at Zgounder Azegour projects brining production Construction start for Zgounder acquired Boumadine acquired capacity to 700tpd expansion 2009–2011 2013 2019 2022 2008 2012 2014 2020 Maya list
Slide 8: Morocco – Top Mining Jurisdiction
Morocco – Top Mining Jurisdiction By the numbers Phosphate – 1st producer in Africa, 4th worldwide 37M 1st Barite – 1st producer in Africa, 3rd worldwide inhabitants silver producer in Africa; 15th worldwide Fluorite – 2nd producer in Africa, 7th worldwide 2022 silver production (6 million oz) Cobal
Slide 9: Morocco – Developing the Mining Sector
Morocco – Developing the Mining Sector Mainly Moroccan miners: 2016 Baseline Mining Code Zgounder OCP, SOMIFER, SAMINE, SACEM, SMI, CTT & ONA Royalty 3% of sales First modern mines (now Managem) Revision of mining code 1920 1951–1995 2016 Tax rate* 25% State free-carried interest Nil Foreign ownersh
Slide 10: Our Assets – Morocco-Focused, Quality Growth Portfolio
Our Assets – Morocco-Focused, Quality Growth Portfolio Zgounder Silver Mine – Cornerstone of Aya’s Growth Story ▪ 2022 production of 1.88M oz ▪ 2023 guidance of 1.7M – 1.9M oz RABAT ▪ 2024 production significantly increased with expansion CASABLANCA ▪ 96M oz M&I resources at 306 g/t Ag MARRAKECH Dev
Slide 11: AYA – The Only TSX-Listed Pure Silver Producer
AYA – The Only TSX-Listed Pure Silver Producer 100% 80% 60% Other Gold Silver 40% 20% 0% Aya Endeavour Excellon *GoGold SilverCrest Silvercorp *MAG Fresnillo First Hecla Americas Coeur Pan Fortuna SSR Mining Majestic American Source: Desjardins Capital Markets, company reports. TSX: AYA; OTCQX: AYAS
Slide 12: Capital Structure – Robust Balance Sheet
Capital Structure – Robust Balance Sheet Institutional Shareholder Breakdown1 60% USA 15% Board & Insiders 16% Europe 32% Family offices2 21% Canada 33% Institutional 3% Australia & ROW 20% Retail 1 Based on 42.5M shares institutional ownership 2 Affiliated with Board and insiders Exchanges – TSX: A
Slide 13: Zgounder Silver Mine
Zgounder Silver Mine 1 AYA 2 Zgounder Silver Mine 3 Exploration 4 Catalysts TSX: AYA; TSX:OTCQX: AYA; OTCQX: AYASFAYASF 13
Slide 14: Zgounder – Strong Execution and Operational Efficiencies
Zgounder – Strong Execution and Operational Efficiencies Solid operational standard reached in 2021 via: 700,000 89.9% 100 ▪ Switch to cut-and-fill mining method 82.8% 87.9% 86.2% 87.1 87.3 ▪ Implementation of operating best practices 600,000 90 78.9% 82% 81% 82.4% 80.4% ▪ Capital infrastructure & e
Slide 15: Zgounder – Industry-Low Discovery Costs
Zgounder – Industry – Low Discovery Costs ▪ Resources as a unit of total shares outstanding up >630% to 96.1M oz since management In Moz Ag 96.1M oz change in 2020 (0.124, 0.423, 0.915 from 2020- 2022) Proven & probable reserves 25.2 ▪ Industry-low discovery cost of $0.18 with only M&I resources $15
Slide 16: Zgounder – Top Silver Intercepts Globally
Zgounder – Top Silver Intercepts Globally Los Ricos, 1 118,399 Zgounder, 2 85,450 Elizabeth Hill, 3 80,762 Zgounder reported 3 out of the top 10 and 15 Filo del Sol, 4 La Colorada, 5 69,147 65,930 77,683 out of the top 50 global silver intersections Breccia, 6 Diablillos, 7 64,287 Diablillos, 8 61,2
Slide 17: Zgounder – Top Silver Intercepts
Zgounder – Top Silver Intercepts 1 3,956g/t over 21.6m 2 4,101g/t over 14.4m 3 5,691g/t over 9.6m 2020-2023 drill exploration program returned 4 5 3,043g/t over 14.4m 6,437g/t over 6.5m 9,346g/t over 4.0m 44 of the top 50 Zgounder intercepts¹ 6 7 4,980g/t over 7.5m 8 7,480g/t over 4.8m 9 4,944g/t ov
Slide 18: Zgounder – Mineral Reserves
Zgounder – Mineral Reserves Silver Reserves On a 100% basis. M&I resources shown inclusive of reserves. ¹ ² ▪ The reserves include drilling carried out between January and September 2021 Tonnes Ag Content (K) (G/T) (Ag K Oz) ▪ Reserves include 29% open-pit and 71% Proven Reserves 2,100 288 28,748 un
Slide 19: Zgounder – Expansion Feasibility Study Highlights
Zgounder – Expansion Feasibility Study Highlights 71Moz $373M LOM Production Profile* P&P reserves Post-tax NAV5% Total Ag oz produced Ag grade processed ($22/oz) 10,000,000 350 9,000,000 300 $139.4M $9.58 8,000,000 Growth capex AISC (LOM) 250 Ag grade (g/t) 7,000,000 Ag oz 6,000,000 200 5,000,000 1
Slide 20: Expanded operations at Zgounder
Expanded operations will combine: ▪ 2,000 tpd Merrill-Crowe plant and 700 tpd flotation-cyanidation plant ▪ Open-pit & UG operations TSX: AYA; OTCQX: AYASF
Slide 21: Construction of Zgounder New Processing Plant, July 2023
4 ’ Crushing —— SaaS tae — platforms Emergency process water pond = oy = silver room platforms—- CONSTRUCTION OF ZGOUNDER NEW PROCESSING PLANT | July 2023
Slide 22: AYA – Achieving Sustainability Leadership
AYA – Achieving Sustainability Leadership Low-Carbon Strategy and Environmental Commitment Priorities: water, tailings management and clean energy. Near-zero Scope 2 emissions in 2024. 61% Ongoing 20-year 88%¹ Water Global Industry Standard wind PPA Reduction in Scope 2 recycled on Tailings Manageme
Slide 23: AYA – High Governance Standards
AYA – High Governance Standards Achieved in the last three years since arrival of new management team Increased transparency of ESG disclosure in support of the below frameworks 37% 63% 15% Women Director Board & management holdings board members independence (As of September 1, 2023) Alignment of e
Slide 24: Exploration
Exploration 1 AYA 2 Zgounder Silver Mine 3 Exploration 4 Catalysts TSX: AYA; TSX:OTCQX: AYA; OTCQX: AYASFAYASF 24
Slide 25: AYA – 2023 Drill Exploration Program of 119,000m
AYA – 2023 Drill Exploration Program of 119,000m Growth Pipeline Includes Five Priority Projects Zgounder Silver Mine ▪ 29,000m budgeted (3 drills active) for near-mine drilling (2023 program expanded by 3,000m) ▪ Follow up early 2023 results east of deposit and RC results in the southern part of th
Slide 26: Zgounder – Near-Mine Drill Exploration Program (Ag)
Zgounder – Near-Mine Drill Exploration Program (Ag) Recent Drill Result Highlights1 ▪ 2,812 g/t Ag over 8m ▪ 2,227 g/t Ag over 7.0m, including 6,768 g/t Ag over 2.0m ▪ 1,893 g/t Ag over 12.0m, including 4,295 g/t Ag over 4.8m ▪ 1,423 g/t Ag over 9.6m, including 3,474 g/t Ag over 3.6m ▪ 858 g/t Ag ov
Slide 27: Zgounder Regional – Drill Exploration Program Expanded
Zgounder Regional – Drill Exploration Program Expanded (Ag, Au, Cu) 2023 Drill Program ▪ Initial 6,700m of DDH completed; program expanded to 14,000m for 2023 ▪ Drilling in H2 2023 will test the potential continuation of the Zgounder deposit and test a new target in the Tourchkal area ▪ Prospective
Slide 28: Zgounder Regional – Testing Continuation East of Deposit
Zgounder Regional – Testing Continuation East of Deposit ▪ An additional 3,000m of extra surface drilling near the open-pit have been added to the 2023 DDH program with the following objectives: ▪ Follow up on 2023 drill results east of Zgounder ▪ Follow up on 2023 RC drill results in the southern p
Slide 29: Boumadine – Drill Exploration Program Expanded
Boumadine – Drill Exploration Program Expanded (Au, Ag, Pb, Zn, Cu) 76,000m DDH Drill Program in 2023 ▪ More than doubled initial 2023 drill program from 36,000m to 76,000m ▪ 3.8km strike length open at both ends, along strike and at depth (6km hydrothermal system) ▪ Definition of a new high-grade m
Slide 30: Boumadine – Interpreted 3D Conductor and Simplified Geology
Boumadine – Interpreted 3D Conductor and Simplified Geology TSX: AYA; OTCQX: AYASF 30
Slide 31: Tirzzit – Historic Copper Mine & Potential New District
Tirzzit – Historic Copper Mine & Potential New District (Cu, Ag) Collection of 7 permits including the historical Tirzzit Copper Mine on Morocco’s anti-Atlas range, 25 km south of Zgounder Through the pending transaction announced in June 2023, Aya acquires: ▪ Historical copper mine offering near-su
Slide 32: Aya Catalysts
Aya Catalysts ▪ Zgounder & Boumadine drill program results ▪ Boumadine resource estimate ▪ Zgounder Silver Mine expansion ▪ Achieve 2023 silver production and cost guidance ▪ Achieve 2023 ESG milestone of EBRD-CTF loan agreement TSX: AYA; OTCQX: AYASF 32
Slide 33: TSX: AYA; OTCQX: AYASF
1320 Graham, suite 132 Ville Mont-Royal, QC H3P 3C8 Benoit La Salle : Benoit.Lasalle@ayagoldsilver.com Alex Ball : Alex.Ball@ayagoldsilver.com www.ayagoldsilver.com | info@ayagoldsilver.com TSX | AYA; OTCQX | AYASF TSX: AYA; OTCQX: AYASF
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