Aya Gold & Silver has set a new production milestone, thanks to record output from its Zgounder silver mine in Morocco. The company’s fourth-quarter performance marked its highest-ever silver production at the site, bolstered by surging global demand for precious metals—a trend that has driven both silver prices and the company’s stock to all-time highs.
In Q4, the Canadian mining group produced 1.37 million ounces of silver, slightly up from the previous quarter. This came as processed ore volumes jumped 14%, reaching 349,242 tonnes. However, the average silver grade dipped, falling from 146 to 134 ounces per tonne, indicating a higher volume but slightly lower ore quality.
Over the full year, Aya’s output more than doubled to 4.83 million ounces—up from 1.65 million ounces the previous year. This remarkable growth is directly tied to the successful expansion of mining and processing operations at Zgounder, which are now running at full capacity.
“With our ramp-up phase complete for 2025, our focus now shifts to flawless execution, continuous optimization, and consistent delivery heading into 2026 and beyond,” said CEO Benoit La Salle, underlining the company’s shift from expansion to performance and stability.
The strong production figures come at a time when silver prices have skyrocketed, reaching a historic high of $85.09 USD per ounce on Monday. Investor appetite for precious metals has surged in the face of ongoing global economic uncertainty, further fueling the price rally.
Aya Gold & Silver’s stock has ridden this momentum, closing Monday at 23.95 Canadian dollars—a gain of 2.57 CAD on the day. Over the past year, the company’s market value on the Toronto Stock Exchange has nearly doubled, soaring by 98%.
