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Aya Gold & Silver Inc.

Silver producer, with a project stated to be in Morocco.

NoneMorocco — as stated on the recordings

producer silver NoneMorocco
Jul 2025 → May 2026Covered
8 of 10Topics on record
1 executiveNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company
Stage
Producer
Primary commodity
Silver
Jurisdiction
Morocco
Deposit
largest silver silver mine in Africa called Imiter
Latest appearance
22 May 2026
On record
2 interviews · 20 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
Séguala is a 6 million oz producer
Management-stated Benoit La Salle May 2026
Money on hand
cash in the bank
Stated capital need: 440 million
Management-stated Benoit La Salle May 2026
What happens next
at the end of this year, next year and 2028
Management-stated Benoit La Salle May 2026
The main open question
No independent voices are on record to validate claims.
Weighed from the statements below, not our opinion of the company.
Our reading

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Aya Gold & Silver Inc.'s own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

No independent commentary on record yet — so far the page carries only the company's own voice.

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management claims Aya sits on 600+ million oz of silver equivalent with three assets: Imiter (largest silver mine in Africa, in production), Séguala (6 million oz annual producer), and Boumadine (37 million oz annual silver production…

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

Management claims Aya sits on 600+ million oz of silver equivalent with three assets: Imiter (largest silver mine in Africa, in production), Séguala (6 million oz annual producer), and Boumadine (37 million oz annual silver production targeted). The company generated $70 million free cash flow in a single quarter and claims $900/oz AISC on a $440 million project producing 400,000 oz gold-equivalent annually for 11 years, with construction underway and first production targeted by 2029.

▼ Bear case

No independent voices are on record to validate claims.

What it rests on
Evidence: 1 moment from 1 interview
Read the full case

No independent voices are on record to validate claims. Management's Boumadine project remains in development with recovery rates still unproven despite assertions of a metallurgical "solution" to reach 90%+ recovery—the work remains incomplete. The company offers no detail on permitting status beyond district names, financing beyond "cash in the bank," or the metal/cost assumptions underlying the claimed $900 AISC and 11-year production profile.

◆ Watch next

Construction starts end-of-year through 2028 with production targeted for 2029; 240,000 m drilling planned for 2027 at $60 million budget.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

Construction starts end-of-year through 2028 with production targeted for 2029; 240,000 m drilling planned for 2027 at $60 million budget. Key milestones: completion of Boumadine metallurgical work, first production ramp at both Séguala and Boumadine, and sustained free cash flow from Imiter operations. Track whether recovery rates reach claimed 90%+ levels and whether the project stays on cost and schedule.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 9 statements

The deposit 5

Key takeaway. Management says that Boumadine represents "more than 600 million oz of silver equivalent" and will produce 37 million oz of silver per year.

Read the full summary

The company also notes that Séguala is a 6 million oz producer, and it describes Boumadine's exploration upside as being along "5 km of a structure that is much, much bigger." The CEO referred to the deposit as "the largest silver silver mine in Africa called Imiter" (May 2026).

What was actually said
deposit type
largest silver silver mine in Africa called Imiter
“We have the largest silver silver mine in Africa called Imiter, which is in production”
Benoit La Salle· 22 May 2026·
exploration upside
5 km of a structure that is much, much bigger
“That is 5 km of a structure that is much, much bigger than this, which we will keep drilling.”
Benoit La Salle· 22 May 2026·
resource size
Séguala is a 6 million oz producer
“Séguala is a 6 million oz producer.”
Benoit La Salle· 22 May 2026·
Show the other 2 statements
resource size
Boumadine will be 37 million oz of silver of production per year
“Boumadine will be 37 million oz of silver of production per year.”
Benoit La Salle· 22 May 2026·
resource size
more than 600 million oz of silver equivalent
“So far, we've discovered a bit of more than 600 million oz of silver equivalent, and our discovery cost is 10 cents.”
Benoit La Salle· 22 May 2026·

Jurisdiction 2

Key takeaway. Management reports that the company's projects are located in Morocco, with two districts — the Séguéla district and the Boumadji district — covering about 800 square kilometres (May 2026).

What was actually said
country
Morocco
“Aya in Morocco is the most important player as as a public company.”
Benoit La Salle· 22 May 2026·
permit status
two districts, the Seguela district and the Boumadji district with 800 square kilometers
“you have a, you know, two districts, the Seguela district and the Boumadji district. And Boumadji we're also building a second mine there, but it's also a district. It's 800 square kilometers of ground that we have.”
Benoit La Salle· 22 May 2026·

Technical risk 2

Key takeaway. Regarding technical risk, management of Aya Gold & Silver Inc.

Read the full summary

reports that metallurgical work has identified a solution to achieve recoveries in the "high or mid-90% range," as stated in May 2026.

What was actually said
metallurgy
solution to get to the high or mid-90% recoveries
“The metallurgy at Bou Madine has been looked at. We have a lot of work, and and what we've told you is, you know, there is a solution to get to the high or mid-90% recoveries.”
Benoit La Salle· 22 May 2026·
recovery rate
high or mid-90% recoveries
“there is a solution to get to the high or mid-90% recoveries.”
Benoit La Salle· 22 May 2026·

Economics 5 statements

Economics 4

Key takeaway. Management reports total capex of $440 million (May 2026).

Read the full summary

On operating costs, the company says it generated $70 million of free cash flow in Q1 and expects to generate between $200 million and $2,300 million of free cash this year (May 2026). All-in sustaining costs are put at $900 (May 2026).

What was actually said
aisc
$900
“Where do you have a project with a CAPEX or capital expenditure of 440 million that will produce in gold equivalent 400,000 oz of gold for 11 years with an ASIC of $900.”
Benoit La Salle· 22 May 2026·
capex
440 million
“Where do you have a project with a CAPEX or capital expenditure of 440 million that will produce in gold equivalent 400,000 oz of gold for 11 years with an ASIC of $900.”
Benoit La Salle· 22 May 2026·
operating cost
generating 200 to 2300 million this year of free cash
“it's got one mine in production generating 200 to 2300 million this year of free cash.”
Benoit La Salle· 22 May 2026·
Show the other 1 statement
operating cost
Q1 generated $70 million of free cash flow
“Just for the quarter, we generated $70 million of of free cash flow.”
Benoit La Salle· 22 May 2026·

Financing 1

What was actually said
cash position
cash in the bank
“We have cash in the bank. We have silver in in the vault.”
Benoit La Salle· 22 May 2026·

Timeline 4 statements

Timeline 4

Key takeaway. Management outlined a multi-year timeline for the project.

Read the full summary

They said construction will start "at the end of this year, next year and 2028," and that first production is ready by 2029. Along the way, they noted a milestone of 240,000 m of drilling in 2027 — and separately said 240,000 m of drilling is planned "this year," though both statements were made in May 2026.

What was actually said
construction start
at the end of this year, next year and 2028
“we are in construction starting at the end of this year, next year and 2028 for production”
Benoit La Salle· 22 May 2026·
first production
ready by 2029
“strong profitability, strong cash flow and one of the best project of this industry in development and in construction to be ready by 2029.”
Benoit La Salle· 22 May 2026·
milestone
240,000 m drilling this year
“This year, we will be drilling approximately 240,000 m, which is a $60 million budget.”
Benoit La Salle· 22 May 2026·
Show the other 1 statement
milestone
240,000 m drilling in 2027
“next year, in 2027, we will drill another 240,000 m uh for a similar budget.”
Benoit La Salle· 22 May 2026·

Corporate 2 statements

Management 1

What was actually said
track record
discovered six mines, built four at Semafo, took company from no market cap to 3.5 billion
“discovered six mines, built four, and sold this company to Endeavour in 2019”
Benoit La Salle· 22 May 2026·

Market 1

What was actually said
cost curve position
ASIC of $900
“Where do you have a project with a CAPEX or capital expenditure of 440 million that will produce in gold equivalent 400,000 oz of gold for 11 years with an ASIC of $900.”
Benoit La Salle· 22 May 2026·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
22 May 2026 Rule Investment Media Benoit La Salle, Pres. & CEO of Aya Gold & Silver Inc. | Rule Symposium 2026: Rick Rule interviews 20
12 Jul 2025 In it to Win it Why Aya Gold & Silver Could Explode in Value! No claims identified

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

aya gold & silver 1
boumadin 1
boumadine 1
ebrd 1
endeavour 1
imiter 1
morocco 1
seguela 1

Questions people ask

What is Aya Gold & Silver Inc.'s project and where is it?

Aya Gold & Silver Inc. is a producer silver company, with a project stated to be in Morocco. Everything here is drawn from its executives' own interviews.

Which interviews mention Aya Gold & Silver Inc.?

We track 2 interviews mentioning Aya Gold & Silver Inc., across 2 channels (In it to Win it, Rule Investment Media).

What are investors saying about Aya Gold & Silver Inc.?

No independent commentary is on record yet — so far the page carries only the company's own voice.

What do recent interviews with Aya Gold & Silver Inc. cover?

The most-discussed topics on record are the deposit, economics, timeline, jurisdiction — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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