Aya Gold & Silver Inc. Raises $143.8M for Exploration and Growth Initiatives
- Aya Gold & Silver raised $143.8 million from a public offering to enhance exploration at Boumadine and Zgounder projects.
- CEO Benoit La Salle stated proceeds will support exploration, general corporate purposes, and optimize the Zgounder Silver Mine.
- The company emphasizes sustainable growth and transparency, encouraging stakeholders to review detailed voting results and risk assessments.
Aya Gold & Silver Inc. Bolsters Exploration Efforts with Successful Public Offering
Aya Gold & Silver Inc. has successfully completed an upsized underwritten public offering, raising approximately $143.8 million in gross proceeds at a price of $13.35 per share. The offering, managed by Desjardins Capital Markets along with National Bank Financial Inc. and BMO Capital Markets as co-lead underwriters, includes the full exercise of an over-allotment option. This substantial capital influx positions Aya in its strongest liquidity position to date, enabling the company to further its exploration initiatives at the Boumadine and Zgounder projects in Morocco. The financing is a strategic move that underscores Aya's commitment to maximizing shareholder value and operational efficiency.
President & CEO Benoit La Salle highlights that the proceeds will not only advance Aya's exploration programs but also support general corporate purposes and working capital needs. The focus on the Boumadine project is particularly noteworthy, as it represents a significant opportunity for growth. The company aims to unlock the full potential of its resources while ensuring that its flagship Zgounder Silver Mine continues to perform optimally. This concerted effort reflects Aya's strategy of integrating sustainability into its operational framework while enhancing financial performance for stakeholders.
As the only TSX-listed pure silver mining entity, Aya Gold & Silver is strategically positioned in a favorable market. The company is also actively exploring properties along the South-Atlas Fault, an area with a rich historical mining legacy. This exploration strategy is aligned with Aya's broader goals of sustainable growth and value creation. The successful completion of the public offering not only reinforces the company's financial standing but also signals to the market its readiness to expand its operations and capitalize on emerging opportunities in the silver mining sector.
In addition to the recent financing, Aya Gold & Silver held its annual general meeting (AGM) in Montreal, where all management nominees were elected as directors. The meeting saw strong shareholder participation, with over 53% of issued shares represented. The company remains dedicated to enhancing shareholder value through sound governance and operational strategies. Stakeholders are encouraged to review the detailed voting results published on SEDAR+ as part of the company’s commitment to transparency.
As Aya Gold & Silver moves forward, it emphasizes the importance of careful risk assessment, advising investors to consult its annual information form and other regulatory filings for comprehensive details regarding potential risks. This proactive communication strategy is part of Aya's broader commitment to maintaining stakeholder trust and ensuring informed decision-making in a dynamic market environment.
