The following is a summary of the Aya Gold & Silver Inc. (AYASF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Aya Gold & Silver produced 366,000 ounces of silver, generating a revenue of $5.1 million in Q1 2024.
The company reported a net loss of $2.5 million for the quarter with cash costs being $20.31 per ounce, a result of lower production and lower sales.
The company closed the quarter with $111 million in cash, alongside $25 million drawn from its EBRD loan.
Business Progress:
Significant progress was made in expanding the Zgounder Mine, which is on schedule for commissioning in Q2 2024.
The company managed to stockpile 275,000 tons of ore for the commissioning of the new mill, exceeding the target.
A total of 145,000 meters of drilling is planned for Boumadine and Zgounder in 2024.
The Zgounder expansion is nearing completion, on track to start production in Q4 2024.
Enlargement of the land package at Boumadine by 346% was successfully carried out.
The company showed commitment to sustainability by launching initiatives focused on education, health, and agriculture in the local communities.
More details: AYA GOLD & SILVER INC IR
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