11:29 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 at last look Tuesday lost 4.3% to C$14.82 on the Toronto Stock Exchange.

Price: 14.82, Change: -0.65, Percent Change: -4.20