08:20 AM EDT, 06/24/2024 (MT Newswires) -- Aya Gold & Silver ( AYASF ) said on Monday that it took out US$15 Million in the fourth and final drawdown of its US$100 million project financing facility for the expansion of the Zgounder silver mine in Morocco.

"As we finalize Zgounder's construction work and implement our commissioning process, we are fully funded and on track to achieve commercial production in Q4-2024," President and CEO Benoit La Salle said.

The European Bank for Reconstruction and Development and the Climate Investment Funds provided the facility.

The company's share price dropped 5% on Friday to $13.28.