• Aya to sell legacy ore stockpile at Boumadine project in Morocco

• Sale to fund future silver-gold mine; shipments underway, payment due 2025

• Boumadine PEA forecasts 11-year mine life with major silver-gold output

Aya Gold & Silver announced on Wednesday that it has reached an agreement with an international buyer to sell a legacy ore stockpile at its Boumadine project in Morocco. The company said the proceeds will help fund the development of the planned silver and gold mine.

The stockpile was created during mining activities at Boumadine in the late 1980s and early 1990s. Aya plans to remove the material over the next 20 to 24 months. It is estimated to contain roughly 2.5 million ounces of silver equivalent. Shipments to Morocco’s dry port have already begun, and payment is expected by the end of 2025.

“The recoverable volume will be further refined during project execution. Favourable market conditions, including precious metal prices, limited supply, and ongoing demand for sulfur, have created an opportunity to commercialize the historical flotation by-product,” the company said. “Cash generated by this operation will contribute to the development of the Boumadine project.”

Financial terms were not disclosed. If completed, the sale could provide additional backing for Boumadine, for which Aya launched a 25 million dollar financing round last June.

A Preliminary Economic Assessment (PEA) published earlier this month estimates that Boumadine could produce 2.3 million ounces of gold and 69.8 million ounces of silver over an 11-year mine life, along with zinc and lead byproducts. Aya plans to advance the project through a full feasibility study expected by the end of 2027. As part of this work, the company will undertake a 360,000-meter exploration program aimed at increasing confidence in the current resource estimate.

Aurel Sèdjro Houenou