08:14 AM EST, 11/04/2025 (MT Newswires) -- Aya Gold & Silver ( AYASF ) reported Tuesday the results of a preliminary economic assessment for the Boumadine project in Morocco.

The study outlined a posttax net present value of US$1.5 billion in the base case based on a 5% discount rate, with a 47% internal rate of return and a 2.1-year payback period.

The project is expected to produce 30.6 million ounces of silver equivalent per year over the 11-year mine life. Post-tax capex was estimated at $3.3 billion in the base case.

"The Boumadine PEA confirms a highly robust, capital-efficient project that is already significantly de-risked given its conventional flowsheet and high-value concentrates," president and chief executive officer Benoit La Salle said.

Aya said the PEA includes only the known mineralized zones on the Boumadine mining license, which represents a small portion of our total land package.

The company said it is advancing development while continuing to drill to unlock the potential of the project.

Aya's share price gained 3.7% on Monday to $15.47 on the Toronto Stock Exchange.