Boumadine Project Sees Significant Economic Improvements

Aya Gold & Silver's Boumadine project in Morocco has seen significant improvements in its economic assessment, according to preliminary data released on September 3. The updated study assumes a gold price of $3,500/oz and a silver price of $50/oz, resulting in an internal rate of return of 93% and a payback period of 0.7 years.

The initial capital expenditure has increased by only 4%, rising to $463 million from the estimated $446 million in 2025. The mine life has been extended from 11 years to 14 years, with expected production levels including 2.25 million oz of gold, 81.2 million oz of silver, 422,000 mt of zinc, and 195,000 mt of lead.

Benoit La Salle, the company's CEO, stated that Aya intends to fund Boumadine using cash on hand and external borrowings, consistent with their strategy of minimizing dilution. He added that this will deliver outsized returns to all shareholders.