The following is a summary of the Aya Gold & Silver Inc. (AYASF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Aya Gold & Silver Inc. reported revenue of $42.8 million and a net profit of $5.3 million for 2023, indicating a 281% increase YoY.
The company maintained low total cash costs at $12.50 per ounce sold.
Cash at the end of Q4 2023 was US$17.3 million, excluding the $57 million deal closed in Q1 of 2024.
Business Progress:
A significant part of the business agenda was the planned expansion of the Zgounder mine, due to be commissioned by Q2 2024.
The supplier stockpile by the end of 2023 included 250,000 tonnes of ore ready for new mill commissioning.
Q4 2023 yielded 114,000 tons of underground mining and 60,000 open pit tons, setting the stage for an expected 25% to 35% mill feed in 2024.
The business has taken ESG aspects into consideration, having met all milestones towards the $100 million EBRD facility.
A crucial part of 2024 plans involves increased drilling at Zgounder and Boumadine to drive growth.
A CapEx budget of $159 million has been proposed, with an allocation of around $49 million left to be spent, and $36 million for exploration ventures.
The company continues to negotiate for additional permits, having added 10 in the previous year. The ESG program will be upheld.
The CEO of Aya Gold & Silver Inc. anticipates 2024 to be a positive year, following the success of 2023 reflected in terms of construction, production, exploration, and ESG. Successful commissioning and confident delivery form the outlook for future geology projects.
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