Aya Gold & Silver (TSX:AYA) has generated US$202 million ($294.46 million) in revenue, representing a 417% year-on-year increase driven by higher production and silver prices.
The company achieved consolidated production of 5 million silver-equivalent ounces in 2025, including 1.54 million ounces in the fourth quarter, with 170,000 ounces contributed from its new Boumadine stockpile reclaim operation.
Net income for 2025 reached US$46 million or US$0.32 per diluted share, compared to a net loss of US$26 million in 2024. Net income in Q4 2025 was US$18 million or US$0.12 per diluted share.
CEO Benoit La Salle says 2025 was “transformational” for the company.
“With Zgounder now operating at steady state, we are entering a phase of significant cash flow generation, further supported by a strong silver price environment,” La Salle says.
The Zgounder Silver Mine, located in Morocco, produced 4.83 million ounces of silver in 2025, processing 1.18 million tonnes of ore at an average grade of 145 grams per tonne silver.
Cash costs averaged $20.25 per silver equivalent ounce sold across consolidated operations, reflecting the Zgounder ramp-up and initial Boumadine contribution.
The company ended the quarter with a balance sheet showing US$136.3 million in cash and cash equivalents against total debt of US$112 million.
For 2026, Aya aims to maintain steady-state operations at Zgounder while advancing its Boumadine project following a positive Preliminary Economic Assessment.
Edited by Amy Rotman
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Images: Aya Gold & Silver
