The following is a summary of the Aya Gold & Silver Inc. (AYASF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Aya Gold & Silver Inc. reported Q2 2024 revenue of $13.7 million, primarily from sales of silver concentrate.

• Net income for Q2 2024 was $6.8 million.

• The company has a strong balance sheet with $103 million in cash and cash equivalents at the end of the quarter.

• Total cash cost was reported at $17.85 per ounce.

• The company's total drawdown on the EBRD loan reached $100 million.

Business Progress:

• The company is nearing completion of its Zgounder mine expansion, with construction 95% complete and commercial production targeted for Q4 2024.

• The mine's drill program was doubled from 15,000 meters to 30,000 meters due to positive results.

• During the quarter, Aya acquired 7 new permits, increasing the total to 18 since the discovery.

• Aya Gold & Silver Inc. has shifted to 100% green energy operation through a new power line commissioning.

Opportunities:

• The company plans significant exploration expansion, having doubled the drill program at Zgounder due to high-grade mineralization and extending the mineralized trend.

• New high conductor anomalies identified to the west and south of the Zgounder main zone present potential expansion targets.

Risks:

• The company notes the cost of sales and operations may increase as production expands and more resources are allocated towards exploration and infrastructure development.

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