Aya Gold & Silver’s updated Boumadine study pegs after-tax NPV at $3.5 billion
AYA•Aya Gold & Silver filed an updated preliminary economic assessment for its Boumadine project in Morocco, with a base-case after-tax NPV of $3.54 billion, a 93% after-tax IRR and a 0.7-year payback period.
1. Updated project assessment
Aya Gold & Silver filed an updated preliminary economic assessment for its Boumadine polymetallic project in Morocco on October 21, 2026. Results announced September 9 put the base-case after-tax NPV at $3.54 billion using a 5% discount rate, with a 93% after-tax internal rate of return and a 0.7-year payback period.
2. Capital and mine life
Initial capital expenditure is estimated at $463 million, broadly unchanged from the prior assessment. Estimated mine life increases to 14 years from 11 years, with average annual production of 271,000 gold-equivalent ounces.
