The Globe and Mail reports in its Tuesday, Jan. 16, edition that National Bank Financial analyst Don DeMarco has reaffirmed his "outperform" recommendation for Aya Gold & Silver. The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco gave his share target a $1.50 boost to $14. Analysts on average target the shares at $14.07. Mr. DeMarco says in a note: "Only pure-play silver producer on the TSX, with sight lines for NAV expansion vis-a-vis Zgounder brownfield expansion to 2,700 tons per day (from current 700 tpd), on time with first pour in Q1/24, on budget with $98-million remaining (as at Q3/23) and fully-funded with an $18-million surplus (as at Q3/23). Drives peer-leading production CAGR [compound annual growth rate], peaking at nine million ounces in 2028 per the Zgounder FS (December, 2021) more than four times the FY23 of two million ounces Ag. Resource accretion compelling with visibility for 150 million ounces (NBF estimate from the current 103 million). Strong operations, with a FY23 guidance beat, while mining rates and throughput buoyant, lending derisking and confidence ahead of expansion completion."