12:11 PM EDT, 08/14/2024 (MT Newswires) -- Aya Gold & Silver ( AYASF ) said Wednesday that it swung to profit in the second quarter following a 42% jump in revenue from silver sales.

The miner said it earned US$6.8 million, or US$0.05 per share, improving from a loss of US$525,000, or nil, in the year-prior quarter.

Revenue from silver sales rose to a record US$13.7 million from US$9.6 million as a result of selling silver concentrate inventory from the first quarter. Silver production slipped to 432,667 ounces from 526,703 ounces.

The "Zgounder and Boumadine (mines) continue to deliver on all fronts as we achieved multiple important milestones in this catalyst-rich year," chief executive Benoit La Salle said. "Commissioning activities are on track for commercial production in Q4-2024, positioning us for significant production and cash flow growth and low-quartile costs."

Aya's shares were last seen up $0.69 to $14.83 on the Toronto Stock Exchange.

Price: 14.83, Change: +0.69, Percent Change: +4.88