Q3 2024 Aya Gold & Silver Inc Earnings Call Transcript
Key Points
- Aya Gold & Silver Inc (AYASF) is on track with the Zgounder mine expansion, which is 99% complete and expected to reach commercial production by late Q4 2024.
- The company has a significant stockpile of 347,000 tons of ore ready for commissioning, providing a strong foundation for future production.
- Aya Gold & Silver Inc (AYASF) has successfully spun out its gold assets into a new entity, Mx2, which has raised $15 million in financing.
- The exploration program is robust, with significant drilling results at Zgounder and Boumadine, indicating potential for high-grade mineralization.
- The company has achieved ISO 9001 certification and met all ESG requirements, reflecting a strong commitment to operational excellence and sustainability.
- Production in Q3 2024 was below expectations due to delays in developing new stopes, resulting in lower-grade ore being processed.
- The company reported a net loss of $300,000 for the quarter, partly due to non-recurring expenses related to stope development.
- Cash costs were higher than usual at $23.47 per ounce, influenced by non-recurring contractor expenses.
- The ramp-up of the new plant and underground mine has faced some delays, impacting overall production timelines.
- The company had to revise its annual production guidance to 1.6 million to 1.8 million ounces, reflecting challenges in meeting initial targets.
Hello and thank you for standing by. Welcome to Aya Gold & Silver's third quarter, 2024 resorts conference call at this time. All participants on a listen-only mode (Operator Instructions)
I would now like to hand the conference over to Ruth Hanna. You may begin.
Thank you operator. Good morning, everyone and welcome to Aya's third quarter, 2024 results earnings call today on the call we have Benoit La Salle, President and CEO; Ugo Landry-Tolszczuk, CFO; Raphael Beaudoin, Vice President Operations; and David Lalonde, Vice President Exploration. All calling them from Marrakesh.
We will finish today's event with a Q&A session with the team. As always, please contact our IR team directly with any follow up questions that are not addressed during the call. Before we begin, I would like to remind listeners that today's event will contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward
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