Aya Gold & Silver Firmly Rejects Erroneous Allegations
Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) is taking a strong stance against recent claims made by short-sellers regarding the company’s credibility and operational integrity. The organization is dedicated to providing clarity and facts to its shareholders amidst the misleading narratives presented.
Misleading Claims Addressed
The allegations outlined in a recent short-seller report have been deemed not only inaccurate but also crafted with the intent to manipulate stock prices to the detriment of true investors. Aya is committed to transparency, assuring stakeholders that the details about its management team, operations, and resource availability have been misrepresented.
Resource Model Reliability Confirmed
Since 2020, Aya has achieved remarkable success by producing over 10 million ounces of silver, with results consistently matching forecasts. This integrity in reporting underscores the reliability of Aya's resource model, reflecting strong operational management.
Drilling Campaign Enhancements
The company's extensive drilling campaigns further reinforce its resource estimates. The March 2021 resource model was initially backed by 76,000 meters of drilling, which was expanded significantly by the end of 2021, offering a robust foundation for continual growth in its mining operations. With an additional 231,000 meters drilled since then, confidence in the resource base continues to strengthen.
Third-Party Verification of Resource Estimates
Independent evaluations conducted by Qualified Persons from P&E Mining Consultants Inc. confirm the accuracy of the resource estimates. These assessments are critical for upholding the integrity required for significant financing and operations.
Technical Report Update in Progress
Aya is diligently working on a comprehensive technical report expected to be released by year-end, which will provide an independent analysis of their resources and plans for expanding operations, including both open-pit and underground mining strategies.
Financial Health and Future Plans
Aya’s financial position is robust, with approximately US$115 million in cash reserves, allowing the company to self-fund projects and growth initiatives, including a Preliminary Economic Assessment for the Boumadine property. This strong cash flow positions Aya to advance strategically while ensuring shareholder value is maximized.
Company Leadership's Commitment
Benoit La Salle, President & CEO, emphasized, "The allegations against Aya are categorically false. Our mining methodologies are amidst perpetual improvement, and ongoing drilling confirms the extensions at Zgounder. Our priority is to enhance the value for our shareholders and execute our plans effectively." This reflects the company’s strategic approach to operational efficacy and sustainability.
Integrity and Governance
Amidst speculation, Aya stands resilient against irresponsible narratives. The management team believes in the rigorous assessment of public evidence and maintains an unwavering commitment to transparency and responsible governance.
Frequently Asked Questions
What claims did Aya Gold & Silver refute?
Aya strongly rejected misleading allegations from a short-seller report that mischaracterized its management and operations.
How much silver has Aya produced since 2020?
Since 2020, Aya has successfully produced over 10 million ounces of silver, consistently verifying its resource model.
What supports Aya’s resource estimates?
Aya's resource estimates are backed by extensive drilling and independent verification from qualified third parties.
When is the updated technical report expected?
An updated technical report is anticipated to be published by the end of the year, detailing resource assessments and future mining plans.
What is Aya’s financial position?
Aya has around US$115 million in cash, facilitating self-funding for growth and operational projects.
