Aya Gold & Silver Inc. (TSX: AYA) shared today its operational and financial results for Q1 2021, which includes the previously announced silver production of 439,149 ounces. The report also highlighted a quarterly revenue of $9.9 million, up from last quarter’s $8.5 million and last year’s $2.0 million.
Total silver sales for the quarter is 419,997 ounces, with 163,499 silver inglot ounces sold and 256,498 silver ounces in concentrate sold. Last quarter, the company sold 352,019 silver ounces while 115,642 silver ounces were sold last year.
Gross margin for the quarter dipped to 50.1% from Q1 2021’s 54.1%, but a notable climb from Q2 2020’s negative margin. This led to the company recording net earnings of $0.3 million, down from last quarter’s $0.8 million but an improvement from last year’s net loss of $1.2 million. The quarterly net income translates to $0.003 per share.
The company ended the quarter with a cash position of $34.1 million from a starting balance of $29.1 million. Total current assets came in at $43.4 million while total current liabilities ended with a balance of $11.0 million.
To date, the mining company has drilled 26,000 metres out of the 35,000-metre exploration program planned on its Zgounder mine permit.
Aya Gold & Silver Inc. last traded at $11.51 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.