Aya Gold & Silver Q4 Earnings Call Highlights

Core Viewpoint - Aya Gold & Silver reported a strong performance in 2025, achieving record revenue, net income, and operating cash flow following the commissioning of its new plant in December 2024 [5]. Financial Performance - Revenue for 2025 totaled $202 million, a significant increase from $39 million in 2024 [4][7]. - Net income reached $46 million after tax, compared to a loss of $26 million in the previous year [4][7]. - Operating cash flow was $72 million, a turnaround from negative $9 million the prior year [3][7]. - Earnings per share were reported at $0.32 to $0.33, with an additional $0.10 per share when excluding stock-based compensation [3]. Operational Highlights - The company mined 1.0 million tons and processed 1.1 million tons in 2025, with Q4 seeing mined tonnage exceed processed tonnage [1]. - The plant averaged 3,800 tons per day in Q4, surpassing its nameplate capacity of 2,700 tons per day [7]. - Recovery rates were 88.4% for the year and 91.2% in Q4, with plant availability at 96% for 2025 and 99% in Q4 [11]. Boumadine Project Assessment - A preliminary economic assessment (PEA) for Boumadine indicated a low initial capital expenditure of $446 million and a pre-tax net present value (NPV) of $2.2 billion, with an internal rate of return (IRR) of 69% [6][15]. - The PEA projected an average annual output of about 400,000 ounces of gold equivalent over the first five years [15]. Future Outlook - The average realized price for Q1 2026 is expected to be around $80, which is approximately $20 higher than Q4 [10]. - The company plans to complete a U.S. listing and is reviewing M&A opportunities in Morocco, anticipating potential consolidation in 2026 [20].