Aya Gold & Silver sells Morocco's Azegour project to Sama for a 19% stake
What's the deal? Aya Gold & SilverDealroom has a profile for this one. Try Dealroom → has signed a term sheet to sell its Azegour project in Morocco to Sama ResourcesDealroom has a profile for this one. Try Dealroom →, paid entirely in Sama shares. On closing, Montreal-based Aya would hold up to 19.11% of Sama's issued and outstanding shares.
What each side brings: Azegour is a brownfield copper-tungsten-molybdenum project in the Western High Atlas, 80km south-southwest of Marrakech. Aya operates the Zgounder silver mine and is advancing its larger Boumadine project; Sama, a TSX Venture-listed explorer, gains a foothold in Morocco.
Why now? The sale fits Aya's push to streamline its portfolio around core assets. The company reported record third-quarter production in October and has been releasing fresh drill results and permits for Boumadine.
The structure: Sama would acquire a newly incorporated Aya subsidiary holding the project's two mining licences and two exploration permits. Aya would also license intellectual property for the surrounding region and provide legal, financial, management, and geological support for one year after closing.
"The proposed sale of Azegour allows us to focus on our core priorities, while maintaining exposure to Azegour's future potential through our shareholding in Sama," said president and chief executive officer Benoit La Salle.
What could go wrong? The deal remains at term-sheet stage, subject to a definitive agreement and regulatory approvals. Sama says Azegour has no current mineral resource or reserve, so the share consideration should not be read as a measure of proven value.
The signal: This is a strategic cleanup, not a cash windfall. Aya sheds a non-core asset while keeping indirect exposure through equity, and Sama buys its way into one of Africa's more active mining regions.
Read more: africaenergyindustry.com
Image credit: ohefin
