Ghislane Guedira Proposed for Presidency of Aya Gold & Silver Following Record Results in Morocco
Aya Gold & Silver Kicks Off 2026 with Strong Performance Driven by Moroccan Mining Efforts
The Canadian mining group Aya Gold & Silver has entered 2026 on a high note, propelled by the growth of its mining activities in Morocco, particularly at the Zgounder and Boumadine sites. The company reported a significant increase across all its financial and operational indicators in the first quarter.
Revenue soared to $117.3 million, compared to $33.8 million in the same period last year— a remarkable increase of 247%. This uptick can be attributed to higher sales volumes, rising silver prices, and a significant improvement in the average price per ounce of silver equivalent.
Net profit reached $48.5 million, up from $6.9 million a year earlier, while operating income surpassed $77 million, reflecting a dramatic enhancement in the company’s profitability. Cash flow from operating activities also experienced a robust rise, exceeding $70 million.
Simultaneously, the company’s cash reserves have exceeded $171 million, bolstering its capacity to finance future development projects.
Aya Gold & Silver also announced a governance reorganization with the departure of several board members. The company proposed appointing Ghislane Guedira as chair of the board. A former Chief Financial Officer at OCP Group and currently the Managing Director of A.P. Moller Capital Morocco, she is expected to be elected at the upcoming annual general meeting.
The company further emphasized that its recent introduction to Nasdaq marks a strategic milestone for accessing international capital markets, with favorable prospects for the remainder of 2026.
From an operational standpoint, consolidated production reached nearly 1.5 million ounces of silver equivalent during the quarter, with sales exceeding 1.4 million ounces.
The Zgounder mine continues to play a central role in this momentum, producing 1.265 million ounces of silver during the first quarter of 2026, despite challenging weather conditions characterized by heavy rains and snow, which disrupted some crushing operations.
Ore extracted from Zgounder surpassed 411,000 tons, marking an increase of over 100% year-on-year. Aya reported that the mining facilities maintained a 99% availability rate, allowing production levels to be sustained despite adverse weather.
The company is also advancing the Boumadine polymetallic project, which generated over 227,000 ounces of silver equivalent during the quarter. This progress follows the launch, at the end of 2025, of the recovery and marketing of old pyritic stockpiles at the site.
Additionally, Aya Gold & Silver plans a significant drilling program for 2026, with nearly 200,000 meters of drilling scheduled at Boumadine to accelerate exploration and conversion of mineral resources. At Zgounder, the annual plan includes an extra 30,000 meters of drilling aimed at expanding high-grade areas.
Finally, the company maintains its forecasts for the 2026 fiscal year and continues technical studies related to the future development of Boumadine, focusing on energy, water, logistics, and metallurgy in order to further enhance its production in Morocco.
