Canadian company Aya Gold & Silver has just unveiled its plan to mobilize $67.5 million to support its exploration activities in Morocco.
Indeed, Aya Gold & Silver announced the conclusion of an agreement with Eight Capital and a syndicate of firm takers, including Financière Banque Nationale, for the purchase of 6,586,000 ordinary shares on a firm basis. This transaction, valued at 67.506 million dollars, is an important step for Aya, who will thus benefit from essential funding for the pursuit of her exploration and development projects.
“This funding underlines our confidence in Aya’s growth prospects, because the use of these funds will mainly support our exploration and development efforts. With Zgounder’s Expansion fully funded and progressing within the budget limits, the cost overrun account remaining intact, we are now looking to strategically position Aya for the future, “explained Benoit La Salle, President and CEO of the company.
He also stressed that this fund will allow the Canadian company to fully continue the exploration and development of Boumadine over the next two years with an exploration program of more than 200,000 meters of drilling.
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