Aya Gold & Silver Secures $25 Million for Boumadine Project Development in Morocco
- Aya Gold & Silver secured a US$25 million credit facility from EBRD for the Boumadine project development in Morocco.
- The funding will support exploration, mine planning, and community development initiatives, enhancing local workforce and supply chains.
- Aya continues to prioritize sustainability and shareholder engagement, recently holding a successful Annual General Meeting with strong participation.
Aya Gold & Silver Secures Funding for Boumadine Project Development
Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) has successfully finalized a US$25 million credit facility with the European Bank for Reconstruction and Development (EBRD) to further develop its Boumadine polymetallic project in Morocco's Draa-Tafilalet region. This agreement marks the third collaboration between Aya and EBRD, reinforcing their mutual commitment to responsible mining practices and sustainable growth. Benoit La Salle, the company’s President & CEO, expresses confidence in the Boumadine project's potential, noting that the EBRD's financial backing will be instrumental as the project moves forward.
The funding secured from EBRD is earmarked for exploration, mine planning, and engineering activities at Boumadine, which is regarded as one of the most significant undeveloped polymetallic deposits globally, rich in both gold and silver. This project plays a crucial role in Aya's strategy to establish itself as a high-margin, multi-asset producer. La Salle emphasizes the importance of this financial support, indicating that it will not only advance the project but will also contribute to local workforce training, promote gender inclusion, and enhance local supply chains. This alignment with community development goals underscores Aya's broader commitment to maximizing shareholder value through sustainable practices.
Aya Gold & Silver, the only pure silver mining company listed on the TSX, also operates the high-grade Zgounder Silver Mine and is exploring additional properties along the South-Atlas Fault in Morocco. The company’s management is dedicated to integrating sustainability into its operations, governance, and financial strategies. While the outlook remains positive, Aya acknowledges the inherent risks associated with mineral production and exploration, as detailed in its 2024 Annual Information Form. This proactive approach to risk management and community engagement positions Aya as a responsible leader in the mining sector.
In addition to the funding announcement, Aya Gold & Silver recently held its Annual General Meeting (AGM), where all director nominees were successfully elected. The meeting saw strong participation from shareholders, representing over half of the company's issued shares. Aya’s management remains focused on enhancing its business and exploration initiatives, highlighting the importance of shareholder engagement and transparency. This AGM is seen as a significant milestone in Aya's strategic direction as it continues to solidify its position in the silver mining industry.