Aya Gold & Silver (AYA) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered record operational and financial performance, with significant increases in production, revenue, and cash flow, driven by the ramp-up of Zgounder and robust silver prices.

• Boumadine contributed additional cash flow from tailings reclamation, with minimal capital and environmental benefits.

• Listed on Nasdaq and added to the VanEck Gold Miners ETF, enhancing market visibility and attracting new institutional shareholders.

• Advanced major growth projects and exploration at Boumadine and Zgounder, with substantial drilling and new mineralized structures identified.

Financial highlights

• Q2 2026 revenue reached $97 million, up 151% year-over-year, with net income of $35 million (EPS $0.24 basic, $0.23 diluted) and operating cash flow at $48 million, up 522% year-over-year.

• Six-month revenue totaled $205 million, net income $84 million, EPS $0.58, and operating cash flow $119 million.

• Cash and cash equivalents stood at $183 million at quarter-end, reflecting strong cash generation and early debt repayment.

• Gross profit increased 609% to $63.4 million; operating income up 593% to $53.2 million.

Outlook and guidance

• 2026 production guidance: 6.2–6.8 Moz AgEq, with Zgounder contributing 5.2–5.8 Moz and Boumadine 1.0 Moz; midyear production is 2.8 million ounces, tracking to plan.

• Boumadine expected to accelerate in H2 as weather improves; full-year guidance reaffirmed.

• Cash cost guidance for Zgounder is $21.50/oz AgEq; Boumadine at $10.10/oz AgEq, with current costs below guidance due to operational efficiencies.

• Boumadine feasibility and updated PEA studies are underway, with key catalysts expected in September and H1 2027.

• Sustaining and growth capital investments planned at $36 million, with $60 million for exploration.