Canadian mining company Aya Gold & Silver began trading on the Nasdaq this week, aiming to broaden its investor base and support the expansion of its precious metals projects in Morocco.
The company, already listed on the Toronto Stock Exchange, said its dual listing marks a strategic step to access deeper pools of capital in the United States as it advances gold and silver operations.
“Access to U.S. financial markets through Nasdaq marks a milestone for Aya as it closes a record year and continues its growth strategy,” said Benoit La Salle, adding that the move is expected to raise the company’s profile and expand its shareholder base.
Aya operates the Zgounder Mine, a key asset that has seen rising output in recent years. The mine produced a record 4.82 million ounces of silver last year, underscoring the company’s growth trajectory.
The firm is targeting average annual production of around 6 million ounces through 2036, supported by ongoing exploration aimed at extending the life and capacity of the mine.
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Beyond Zgounder, Aya is focusing on the Boumadine Project, which is emerging as its principal development project in the country.
A preliminary economic assessment released in late 2025 estimated that Boumadine could yield approximately 2.3 million ounces of gold and 69.8 million ounces of silver over an 11-year period, alongside zinc and lead byproducts. The company is currently refining those projections through further studies and exploration work.
To support its growth plans, Aya has allocated about $60 million for exploration activities across its Moroccan assets in 2026, reflecting a continued push to expand reserves and production capacity.
The Nasdaq listing is expected to enhance the company’s visibility among global investors, particularly in the United States, where capital markets are deeper and more liquid.
Analysts say dual listings can improve trading volumes and valuation by attracting a broader range of institutional and retail investors, though the extent of the impact will depend on market conditions and the company’s operational performance.
Aya’s move comes as Morocco continues to position itself as a mining-friendly jurisdiction, offering political stability, improving infrastructure and access to international markets.
The North African country has been working to attract foreign investment into its mining sector, particularly in precious and strategic metals, as part of broader efforts to diversify its economy.
For Aya, the success of its expansion strategy will hinge on its ability to deliver on production targets and advance development projects while managing costs and operational risks.
While the Nasdaq debut represents a milestone, observers note that sustained investor confidence will depend on tangible progress at its Moroccan operations and the long-term outlook for global precious metals markets.
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Still, the listing underscores growing international interest in Morocco’s mining sector and highlights the role of global capital markets in financing resource development across Africa.
