Welcome to our dedicated page for Avino Silver & Gold Mines Ltd. (Canada) news (Ticker: ASM), a resource for investors and traders seeking the latest updates and insights on Avino Silver & Gold Mines Ltd. (Canada) stock.
Avino Silver & Gold Mines Ltd. (TSX:ASM, NYSE American:ASM, FSE:GV6) is a Canadian mineral exploration and mining company, principally engaged in the exploration, extraction, processing, and sale of silver, gold, and copper. The company's core operations are centered around the acquisition, development, and advancement of mineral properties in Canada and Mexico.
Avino boasts a diversified portfolio of interests in 42 mineral claims and four leased mineral claims. Key properties include:
- Avino Mine Area Property: Comprising four concessions covering 154.4 hectares, 24 exploitation concessions over 1,284.7 hectares, and one leased concession of 98.83 hectares.
- Gomez Palacio Property: Nine exploration concessions spanning 2,549 hectares.
- Santiago Papasquiaro Property: Four exploration concessions covering 2,552.6 hectares and one exploitation concession of 602.9 hectares.
- Unification La Platosa Properties: Three leased concessions located in Durango, Mexico.
In Canada, the company owns 100% interests in the Minto and Olympic-Kelvin properties in British Columbia.
Avino's operations are highlighted by its flagship Avino Mine in Durango, Mexico. This historic mine has been operational for over 55 years and continues to be a significant producer of silver, gold, and copper. The recent strategic acquisition of the adjacent La Preciosa property has significantly bolstered Avino's resource base, adding an impressive 371 million silver equivalent ounces to its assets.
Financially, Avino has demonstrated resilience and growth. Its latest achievements include a successful drill program, the completion of a Pre-Feasibility Study for the Oxide Tailings Project, and an ongoing long-term land-use agreement for the development of La Preciosa. Avino's production outlook for 2024 anticipates between 2.5M and 2.8M silver equivalent ounces, sourced from the Avino Mine and stockpiles from La Preciosa.
Avino remains committed to environmental responsibility and community well-being, emphasizing sustainable mining practices. The company has also been recognized for its efforts by being added to the Nasdaq Metals Focus Silver Miners Index.
Under the leadership of President and CEO David Wolfin, Avino Silver & Gold Mines Ltd. aims to continue its growth trajectory, leveraging its extensive resource base and strategic acquisitions to deliver long-term value to shareholders.
Avino Silver & Gold Mines (ASM) reported its Q1 2023 financial results, highlighting steady production levels with a 48% increase over Q1 2022. Key financial metrics include:
- Revenues of $9.8 million
- Mine operating income of $1.9 million
- Net loss of $0.4 million
- Cash costs per silver equivalent payable ounce sold of $14.22
- All-in sustaining cash cost per silver equivalent payable ounce sold of $20.17
The company also reported operational achievements, including an updated mineral resource estimate totaling 368 million silver equivalent ounces across all properties, favorable metallurgical results from the Oxide Tailings Project, and the completion of a dry-stack tailings facility. Avino remains focused on its growth plan to become an intermediate silver producer in Mexico.
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