Aya Gold & Silver Inc. · TSX:AYA
Aya Gold & Silver — Q3 2024 Earnings Presentation
31 slides from Aya Gold & Silver's earnings presentation, Nov 14, 2024
Slide 1: Unlocking silver growth in Morocco
Unlocking silver growth in Morocco INVESTOR PRESENTATION NOVEMBER 2024 TSX: AYA | OTCQX: AYASF
Slide 2: Forward-Looking Statements
Forward-Looking Statements The Zgounder Expansion Feasibility Study (“FS”) is based on a technical report entitled “NI43-101 and assays. These estimations and extrapolations are subject to uncertainties, which include but are not TECHNICAL REPORT – FEASIBILITY STUDY ZGOUNDER EXPANSION PROJECT”, orig
Slide 3: Aya
AYA Aya Zgounder Silver Mine Exploration TSX: AYA | OTCQX: AYASF 3
Slide 4: Aya / Proven Management Team
Aya / Proven Management Team Benoit La Salle, FCPA, MBA Mustapha Elouafi Ugo Landry-Tolszczuk Elias Elias President & CEO President-Managing Director, Morocco Chief Financial Officer Chief Legal and Sustainability Officer Benoit is a mining veteran with 30 years of experience as Mustapha is an estab
Slide 5: Aya / Experienced Board of Directors
Aya / Experienced Board of Directors Benoit La Salle, FCPA, MBA Robert Taub Annie Torkia Lagacé 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 several Annie brings o
Slide 6: Capital Structure / Robust Balance Sheet
Capital Structure / Robust Balance Sheet Institutional Shareholder Breakdown1 60% USA 15% Board & management 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 Aya Board and insiders Exchanges –
Slide 7: Aya / Our History
Aya / Our History +700 tpd mill capacity achieved at Zgounder Imiter bis, Amizmiz, Azegour projects acquired Zgounder flotation Construction start for Zgounder expansion plant commissioned 2009–2011 bringing production capacity to 700tpd 2022 Boumadine acquired 2019 2013 2012 2020 2024 Zgounder mini
Slide 8: Aya / The Only TSX-Listed Pure-Play Silver Producer
Aya / The Only TSX-Listed Pure-Play Silver Producer 100% 80% 60% Silver Gold 40% Other 20% 0% Source: Desjardins Capital Markets, company reports. *Denotes developer in 2023, for which 2023 metal prices and latest technical report were used. **Coeur Mining has announced a merger agreement with Silve
Slide 9: Morocco / Top Mining Jurisdiction
Morocco / Top Mining Jurisdiction By the numbers Phosphate – #27 Investment Attractiveness Global Index #12 Policy Perception Global Index 1st producer in Africa, Fraser Institute Annual Survey of Mining Companies, 2023 4th worldwide Barite – 1st producer 710,850 km2 in Africa, 3rd worldwide Fluorit
Slide 10: Morocco / Developing the Mining Sector
Morocco / Developing the Mining Sector Mainly Moroccan miners: First modern OCP, SOMIFER, SAMINE, SACEM, Revision of 2016 Baseline Mining Code Zgounder mines SMI, CTT & ONA (now Managem) mining code Royalty 3% of sales 1920 1951–1995 2016 Tax rate 32% State free-carried interest Nil Foreign ownershi
Slide 11: Our Assets / Morocco-Focused, Quality Growth Portfolio
Our Assets / Morocco-Focused, Quality Growth Portfolio Zgounder Silver Mine – Cornerstone of Aya’s Growth • 2024 guidance of 1.6M-1.8M oz • 96M oz M&I resources at 306 g/t Ag1 Aya Development Upside • Boumadine – gold, silver, lead, zinc • 34M oz AgEq indicated resources at 515 g/t AgEq2 • 318M oz A
Slide 12: Industry-Low Discovery Costs
Industry-Low Discovery Costs • Ag resource as a unit of total shares outstanding up In Moz AgEq >7x to 448Moz AgEq since Q2-2020 M&I and Reserves (Zgounder & Boumadine) • Industry-low discovery cost of $0.10 and industry- Inferred (Zgounder & Boumadine) 3.45 high AgEq per share growth 0.98 318.1 0.4
Slide 13: Zgounder / Top Silver Intercepts Globally
Zgounder / Top Silver Intercepts Globally Los Ricos, 1 118,399 Zgounder, 2 85,450 Elizabeth Hill, 3 Zgounder reported 3 out of the top 10 and 15 out of 80,762 Filo del Sol, 4 77,683 La Colorada, 5 69,147 the top 50 global silver intersections of 2020-2024 YTD¹ Breccia, 6 Diablillos, 7 65,930 64,287
Slide 14: Zgounder / Strong Operational Execution and Efficiencies
Zgounder / Strong Operational Execution and Efficiencies Solid operational standard reached in 2021 by: 89.9% 700,000 100 • Switch to cut-and-fill mining method 87.3% 82.8% 87.9%86.2% 87.1% • Implementation of operating best practices 600,000 86.6%86.7% 90 78.9% 82% 81%82.4%80.4% • Capital infrastru
Slide 15: Q3-2024 / Transition Quarter with Key Strategic Spinout
Q3-2024 / Transition Quarter with Key Strategic Spinout Continued advancing Zgounder Mine expansion on budget: • Targeting commercial production in late Q4-2024 99% • Stockpile of 347,560t of ore at quarter-end for commissioning of new mill of Zgounder expansion Delivered a transitional Zgounder qua
Slide 16: Zgounder / Mineral Reserves
Zgounder / Mineral Reserves Silver Reserves On a 100% basis. M&I resources shown inclusive of reserves.¹ • The reserves include drilling carried out between Tonnes Ag Content (K) (G/T) (Ag K Oz) January and September 2021 Proven Reserves 2,100 288 28,748 • Reserves include 29% open-pit and 71% Proba
Slide 17: Zgounder / Expansion Feasibility Study Highlights
Zgounder / Expansion Feasibility Study Highlights 71Moz $373M P&P reserves Post-tax NAV5% LOM Production Profile* ($22/oz) 10,000,000 350 9,000,000 $139.4M $9.58 8,000,000 300 Growth capex AISC (LOM) 7,000,000 250 6,000,000 200 5,000,000 11-year 48% 4,000,000 150 LOM Post-tax IRR 3,000,000 100 2,000
Slide 18: Expanded operations will combine
Expanded operations will combine: • 2,000 tpd Merrill-Crowe plant and 700 tpd flotation-cyanidation plant • Open-pit & UG operations TSX: AYA | OTCQX: AYASF 18
Slide 19: Zgounder Expansion / Aligned for Q4-2024 Commercial Production
Zgounder Expansion / Aligned for Q4-2024 Commercial Production On budget: • On track to complete expansion within the capital cost estimate Underground development complete: • 100% of lateral and vertical development Progressing to plan: • Electrical & instrumentation finalisation; and commissioning
Slide 20: Aya / Drill Program of 160,000m, Focusing on Boumadine
Aya / Drill Program of 160,000m, Focusing on Boumadine Zgounder Silver Mine • 25,162m program of 30,000m completed • Follow up of promising underground H1-2024 results Boumadine (Development) • 69,293m of 120,000m completed • 60,000m: explore and expand 5.4 km strike • 60,000m: test new targets • Pr
Slide 21: Zgounder / At-depth Drilling of Near-Mine Permits
Zgounder / At-depth Drilling of Near-Mine Permits Drilled 8,532m in Q3 for 25,162m YTD Drill results to date confirm mineralization near the granite contact and lateral east-west extensions. Recent Drilling Highlights1 1,089 g/t Ag 322 g/t Ag 2,812 g/t Ag over 13.5m, over 17.6m, over 8.0m including
Slide 22: Zgounder Regional & Tirzzit / Drill Testing and Geophysics
Zgounder Regional & Tirzzit / Drill Testing and Geophysics Zgounder Regional • Drill testing surrounding permits with similar geological signatures • Calibrating hyperspectral imaging with grab sample data • Re-interpreting geophysics data collected in 2022 • Defining new drill targets with structur
Slide 23: Boumadine / 2024 Resource Highlights (Ag, Au, Cu, Pb, Zn)
Boumadine / 2024 Resource Highlights (Ag, Au, Cu, Pb, Zn) Highlights¹ Indicated resources of 2.0Mt at 113 g/t Ag, 2.51 g/t Au, 4.32% Zn and 1.07% Pb containing an estimated 7.4 Moz of Ag, 165 koz of Au, 88 kt of Zn and 22 kt of Pb Inferred resources of 23.6Mt at 85g/t Ag, 2.62 g/t Au, 2.32% Zn and 0
Slide 24: Boumadine / Robust Mineral Resource Estimate
Boumadine / Robust Mineral Resource Estimate¹,²,³ (AuEq, AgEq, Cu, Pb, Zn) Potential to increase deposit in all directions Average Grade² Contained Metal² Cutoff Tonnes Ag Au Cu Pb Zn AgEq AuEq Ag Au Cu Pb Zn AgEq AuEq NSR (kt) (g/t) (g/t) (%) (%) (%) (g/t) (g/t) (koz) (koz) (kt) (kt) (kt) (koz) (ko
Slide 25: Boumadine / 2024 Accelerated Development (Au, Ag, Pb, Zn)
Boumadine / 2024 Accelerated Development (Au, Ag, Pb, Zn) Through drilling¹ • 69,293m of 120,000m drill program completed (Q3-end) • 60,000m – expand 5.4km open-ended strike and infill • 60,000m – test hypotheses and generate new drill targets • Main and Tizi Zones remain open in all directions Thro
Slide 26: Boumadine / Expanded Footprint, Multiple New Conductive Anomalies
Boumadine / Expanded Footprint, Multiple New Conductive Anomalies Figure – Preliminary Results – Section L2100 Passing through Boumadine – Apparent Conductivity with Drill Holes (target in dashed red) Preliminary Results – Total Magnetic Intensity (w/ mineralization trace at surface in red) Figure –
Slide 27: Spinout of Gold Assets / Unlocking Value from Non-Core Gold Projects
Spinout of Gold Assets / Unlocking Value from Non-Core Gold Projects Creation of Mx2 Mining, a North African-dedicated gold growth company backed by Aya¹ Amizmiz Gold Project (Morocco): • Historic resource of 342,000 oz at 12.98 g/t Au • 2,800m drill program to begin in Q4 Exclusive option to acquir
Slide 28: Zgounder / Near-term Decarbonization Objectives
Zgounder / Near-term Decarbonization Objectives Estimated total GHG emissions for the Zgounder Silver Mine 88% Reduction in overall emissions in 2025¹ ¹ Compared to base year of 2021. Objective does not include Scope 3 emissions. TSX: AYA | OTCQX: AYASF 28
Slide 29: Aya / Implementation of High Governance Standards
Aya / Implementation of High Governance Standards Achieved in the last three Alignment of executive pay to performance Increased transparency years since arrival of new and shareholder interests of ESG disclosure management team in support of the below Other frameworks: 37% Women board members Marke
Slide 30: Aya / Achieving Sustainability Leadership
Aya / Achieving Sustainability Leadership Low-Carbon Strategy and Embedding a Health and Supporting our Social Environmental Commitment Safety Culture License Priorities: water, tailings management and 2024 priorities: consolidating management Priorities: national recruitment and clean energy. Near-
Slide 31: TSX: AYA | OTCQX: AYASF
1320 1320GRAHAM, GRAHAM,SUITE SUITE132 132 VILLE VILLEMONT-ROYAL, MONT-ROYAL,QC QCH3P H3P3C8 3C8 BENOIT BENOITLA LASALLE: SALLE:Benoit.Lasalle@ayagoldsilver.com Benoit.Lasalle@ayagoldsilver.com ALEX ALEXBALL: BALL:Alex.Ball@ayagoldsilver.com Alex.Ball@ayagoldsilver.com www.ayagoldsilver.com www.ayag