Aya Gold & Silver (TSX: AYA) finally reported production results for the second quarter this year, with the company reporting the production of 1.0 million ounces of silver.
Production was down from 1.1 million ounces on a quarter over quarter basis, while being up from 432,667 ounces in the second quarter of last year. A total of 273,471 tonnes of ore was processed in the second quarter, a 9.5% improvement from 249,743 tonnes in the first quarter, while recoveries improved from 82% to 86.5% quarter over quarter.
Figures on average grades were not provided.
“The new plant is now running above nameplate capacity, with recoveries at or above feasibility study levels. Stripping in the open pit during the first half has laid the groundwork for the expanded mine plan, while improved sequencing underground is already driving higher grades,” commented Benoit La Salle, CEO of Aya.
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Production for the quarter is said to have been split 64% open pit and 36% underground, with mine ramp up expected to occur by year end following the delivery of certain mining equipment. Initiatives are also said to be underway to control blast movement and improve ore recovery and dilution.
Guidance calling for silver production of 5.0 to 5.3 million ounces in 2025 remains in place, alongside other guidance metrics issued earlier this year. Higher silver production is expected to occur in the second half as a result of improved mining rates.
Full financial results are slated to be released August 14.
Aya Gold & Silver last traded at $14.04 on the TSX.
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