Strong second-quarter performance: Aya produced 1.7 million silver-equivalent ounces, up 61% year over year, while revenue rose 151% to $97 million and operating cash flow increased 522% to $48 million. Zgounder throughput exceeded design capacity: The Moroccan mine averaged 3,900 tonnes per day, supported by high recoveries and plant availability, while cash costs declined to $17.69 per ounce. A new tertiary crusher is expected to help sustain throughput near 3,850 tonnes per day from early 2027.
Guidance and expansion plans remain intact: Aya reaffirmed 2026 production guidance of 5.2–5.8 million silver-equivalent ounces at Zgounder and 1 million at Boumadine, while advancing a Boumadine economic study, expanding exploration and acquiring additional Moroccan exploration properties. Aya Gold & Silver (TSE:AYA) reported higher production, revenue and cash flow for the second quarter of 2026, supported by increased throughput at its Zgounder mine in Morocco and continued contributions from its Boumadine tailings reclamation operation. President and Chief Executive Officer Benoit La Salle said the company produced 1.7 million silver-equivalent ounces in the quarter, up 61% from a year earlier and 12% from the prior quarter.
Quarterly revenue rose 151% year over year to $97 million, while net income totaled $35 million and operating cash flow reached $48 million, up 522% from the second quarter of 2025. → Lumentum Just Delivered the AI Growth Investors Wanted For the first half of 2026, Aya reported production of 3.2 million silver-equivalent ounces, revenue of $205 million, net income of $84 million and operating cash flow of $119 million. Basic earnings per share for the six-month period were $0.58. La Salle said Zgounder continued to exceed its original processing design capacity of 2,700 tonnes per day.
The mine achieved an average milling rate of 3,900 tonnes per day during the second quarter, compared with 3,600 tonnes per day in the first quarter and 3,000 tonnes per day a year earlier. → Joby's Defense Pivot Accelerates With $500M Resonant Sciences Deal The daily mining rate reached 4,900 tonnes per day, while the average plant feed grade was 141 grams per tonne. Recoveries and plant availability both exceeded 90%, according to the company. Aya ended the quarter with an ore stockpile of 374,000 tonnes, which management said provides a buffer while it continues underground development work.
The company has brought in a temporary crushing contractor and is adding a tertiary crushing section at Zgounder. Vice President of Operations Raphaël Beaudoin said the new crusher is intended to sustain throughput near 3,850 tonnes per day and could potentially support further gains. The equipment is expected to be commissioned this fall and be ready for regular use in early 2027. → Ryman Checks Into a $1.38B Hospitality Upgrade Zgounder's cash cost was $17.69 per ounce during the second quarter, down from $18.64 in the prior quarter.
For the first half, its cash cost was $18.18 per ounce. La Salle said sustaining and development costs at the relatively new operation remained low. Beaudoin said the open-pit strip ratio was about 10 year to date and is expected to rise to around 16 over the next six months before ending the year near 13.
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