Aya Gold & Silver (TSX:AYA) Puts Boumadine Value At $3.5 Billion In Updated PEA

• Aya Gold & Silver (TSX:AYA) released an updated preliminary economic assessment for its Boumadine Project, reporting a doubled after-tax NPV.
• The new study outlines a higher IRR, as well as a longer projected mine life for Boumadine.
• Updated assumptions include increased metal payability, which management says improves long-term project economics.

This kind of step-change in project economics is not unique to Aya Gold & Silver. It can be useful to compare it with peers exposed to similar themes through 30 best rare earth metal stocks.

Aya Gold & Silver is a CA$5.8b metals and mining business focused on exploring and developing precious metals projects in Morocco, so the Boumadine update sits alongside its broader push to advance assets in that country. For readers tracking project pipelines rather than just current production, this kind of development work is a key part of the story.

Beyond the headline: 1 risk and 1 thing going right for Aya Gold & Silver that every investor should see.

How does the new Boumadine PEA change Aya Gold & Silver’s project mix?

The 2026 PEA more than doubles Boumadine’s after tax NPV to US$3.5b at a 5% discount rate, with a 93% IRR and a 0.7 year payback at base case prices, and extends mine life from 11 to 14 years. That pushes Boumadine closer to Zgounder in importance and reinforces Aya Gold & Silver as a Morocco focused multi asset precious metals producer rather than a single mine story.

Does this Boumadine update shift the Aya Gold & Silver Narrative?

The Narrative already leans on Boumadine as a key growth project and on Aya’s ability to invest aggressively in Morocco while managing operational and jurisdictional risk. A much larger NPV and stronger metal payability support the growth side of that story, although earnings forecasts that point to declining profits still leave execution risk squarely in view.

If we take a look at the community Narrative for Aya Gold & Silver, we can see how this news fits into the bigger investment story.

What should you watch next to judge whether this Boumadine PEA really matters?

The critical tests now are how Aya Gold & Silver moves from PEA to more detailed studies and funding, and whether metallurgy and concentrate off take terms hold up. Watch for a formal pre feasibility or feasibility timeline, updates on debt or project financing plans, and any change in production or recovery assumptions.

For the full picture including more risks and rewards, check out the complete Aya Gold & Silver analysis.

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