Aya Gold & Silver Inc.

Notable vs. Peers

• Financials score of 6/10 is weaker than the peer average of 7.6/10.
• Trading within 0% of its 52-week high — strong recent price momentum.

Lifecycle Milestones

1. Permit granted

   Jan 2012 · Following an ONHYM international tender Maya Gold & Silver (AYA's predecessor) won 2011-09-15, Maya and ONHYM signed the definitive convention/Assignment Agreement 2012-01-06, under which Maya's subsidiary Zgounder Millennium Silver Mining acquired 85% of the Zgounder silver deposit (ONHYM retaining 15%) for CAD 5,647,250 total. This convention gave Maya/AYA its own operating rights over Zgounder (distinct from the historic 1979-85 SONAREM/Reminex-era mining), directly enabling the restart recorded on this miner's existing CONSTRUCTION_START/FIRST_PRODUCTION rows. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Task #922: written as a real, undated MinerConstructionMilestone row (achievedDate intentionally null). Aya Gold & Silver's Zgounder Silver Mine demonstrably reached (at least) two construction decisions -- the original 2013-14 restart (a contractual rehabilitation obligation under the Jan 2012 ONHYM tender/convention, this miner's own PERMIT_GRANTED row) and the 700tpd-to-2,700tpd plant expansion completed ahead of COMMERCIAL_PRODUCTION (2024-12-30, later than this row's stale 2019-01-01 COMMERCIAL_PRODUCTION date on file, which itself predates the expansion and may warrant separate review). Consolidating this miner's own constructionMilestone:CONSTRUCTION_DECISION MetricStatus research (Task #693, the third independent pass after Task #430 and Task #672): no dated construction-decision announcement was ever found for EITHER phase despite exhaustively testing every candidate event (the 2021-12-09 FS/project update, first blast Jan 2022, the 2022-02-22 FS results, detailed engineering Mar 2022, bulk earthworks Aug 2022, the EPC award Dec 2022, and the Feb 2023 financing close) -- deliberately NOT marked disputed, because Aya demonstrably built the expansion plant, so the decision provably happened and only the announcement is missing (the same AAU/SLP distinction Task #692 established: disputed is for doubt the milestone occurred at all, never mere uncertainty about which release records it). Recorded as reached-but-undated rather than continuing to leave the milestone entirely unrecorded.
3. Construction start

   Reached — date not disclosed · During H1 2013, the company (then Maya Gold & Silver Inc., AYA's predecessor name -- same corporate entity, TSXV:MYA) rehabilitated the mill, concentrators and office facilities at Zgounder, targeting a mine start-up in October 2013. No single dated 'construction commences' press release located; recorded reached-but-undated per the H1-2013 period this secondary compilation attributes it to. · Source
4. First pour / production

   Reached — date not disclosed · First silver pour at Zgounder under Maya Gold & Silver (AYA's predecessor name) in August 2014 -- 20 ingots (~234.5kg, ~7,500oz) -- following milling operations that began in July 2014; the mine was officially inaugurated 20 September 2014. This predates the much larger, better-documented 2022-2024 Zgounder expansion (new 2,000tpd mill, commercial production declared 30 Dec 2024) -- that later event is a capacity expansion of an already-producing mine, not the company's first production, so it is NOT what this row is dated to. Exact day within August 2014 not independently confirmed; recorded reached-but-undated. · Source
5. Commercial production

   Jan 2019 · Genuinely reached with a clean, single, well-documented date: Aya Gold & Silver's Zgounder Silver Mine in Morocco -- effectively the company's sole material producing asset (Boumadine remains exploration/development-stage) -- began commercial-production-basis reporting from 2019-01-01, per the company's own 2019 financial results disclosure. Aya subsequently completed a major processing-plant expansion at the SAME mine (construction begun mid-2022) and declared a second commercial-production milestone for the new, expanded plant on 2024-12-29 (first silver pour 2024-11-27) -- noted here for completeness but not used as achievedDate, since the 2019 date is the company's original, unambiguous declaration and this is the same mine (not a new orebody, unlike Torex's Media Luna). This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.