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About Avino Silver & Gold Mines Ltd. (ASM)
Avino Silver & Gold Mines Ltd. is a Canadian-based mining company engaged in the acquisition, exploration, development, and production of mineral properties. With a legacy spanning over five decades, Avino has established itself as a significant player in the precious metals mining industry. The company's primary focus is on silver, gold, and copper, which are extracted from its flagship Avino Mine located near Durango, Mexico, and other strategic properties.
Core Operations and Properties
Avino Mine: The Avino Mine is the cornerstone of the company's operations, situated within a district-scale land package in Durango, Mexico. This fully operational mine is supported by a modern 2,500 tpd (tonnes per day) mill and processing facility. The mine produces unhedged silver, gold, and copper, allowing the company to benefit directly from favorable commodity price movements.
La Preciosa: Acquired in 2022, La Preciosa is one of the largest undeveloped primary silver resources in Mexico. Located just 19 kilometers from the Avino Mine, this property significantly enhances the company's resource inventory, contributing to its long-term growth strategy. In 2025, Avino commenced underground development at La Preciosa, marking a pivotal step in its five-year growth plan.
Other Assets: In addition to its Mexican properties, Avino owns mineral claims in British Columbia, Canada, including the Minto and Olympic-Kelvin properties, which further diversify its asset portfolio.
Business Model and Revenue Streams
Avino generates revenue through the extraction, processing, and sale of precious metals. The company's unhedged production strategy enables it to capitalize on rising commodity prices, while its district-scale land package provides opportunities for resource expansion and operational synergies. The integration of La Preciosa is expected to triple production output, reinforcing Avino's position in the global silver market.
Commitment to Sustainability
Avino is deeply committed to sustainable mining practices. Its dry-stack tailings facility, operational since 2023, minimizes environmental impact by reducing water usage and enhancing tailings management. The company also engages with local communities through initiatives aimed at education, job creation, and economic development, earning it the ESR Designation for corporate social responsibility.
Market Position and Industry Significance
Operating in a highly competitive industry, Avino differentiates itself through its long-standing history, strategic acquisitions, and focus on operational efficiency. The company's resource base, totaling 371 million silver equivalent ounces as per NI 43-101 standards, positions it as a key player in the silver mining sector. With a robust growth plan and a strong balance sheet, Avino is well-equipped to navigate market challenges and capitalize on opportunities in the evolving precious metals market.
Avino Silver & Gold Mines Ltd. (TSX: ASM) reported strong Q2 2022 production results, achieving a 42% increase in silver equivalent production to 649,569 ounces. Silver output rose by 37% to 225,537 ounces, gold production surged 69% to 1,350 ounces, and copper production improved 35% to 1.6 million lbs. Despite declining metal prices, sales remained profitable. The company focuses on operational optimization and workforce growth and anticipates significant production growth over the next five years amidst rising demand for precious metals.
Avino Silver & Gold Mines Ltd. (ASM) held its Annual General Meeting on June 21, 2022, where all proposed resolutions were approved. Approximately 39.25% of outstanding shares were voted. Key outcomes included setting the number of directors at four and the election of Peter Bojtos as Chairman of the Board. Bojtos brings over 50 years of mining experience. Manning Elliott LLP was appointed as auditors, with 94.43% of votes in favor. The company remains committed to organic growth and strategic acquisitions to enhance shareholder value.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced positive drill results from Phase 2 of its 2021/2022 exploration program at the Avino Elena Tolosa area. The latest assays show significant mineralization below Level 17, with high-grade intercepts including 206 AgEq g/t over 41 metres. This confirms the continuity of the Avino vein's mineralization down to at least 290 metres and indicates potential for higher copper mineralization. The company plans to expand its drilling program, totaling 13 holes over 7,000 metres for 2022, to further explore these promising areas.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced drill results from its Oxide Tailings Project. The 2022 program, comprising 17 drill holes totaling 209 meters, continues to show promising gold grades, including 0.79 Au g/t over 10.5 meters. The results suggest significant resource expansion potential beyond previous estimates. Avino is conducting a comprehensive sampling for metallurgical studies to support an updated Pre-Feasibility Study. This project is central to the company's growth strategy towards becoming an intermediate producer.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced record quarterly revenues of $11.1 million and mine operating income of $4.7 million for Q1 2022. Earnings per share were $0.01, with adjusted earnings of $0.03. The closing of the La Preciosa acquisition for $29.7 million is expected to enhance growth potential. Despite strong financial performance, cash and working capital decreased significantly compared to the previous year. The company reported a cash balance of $11.7 million, down 57% year-over-year.
Avino Silver & Gold Mines Ltd. (TSX: ASM) plans to announce its First Quarter 2022 financial results after market close on May 11, 2022. A conference call and webcast will follow on May 12, 2022 at 9:00 a.m. PDT. Participants can join via the provided link or by calling in. Avino primarily produces silver at its wholly owned Avino Mine in Durango, Mexico. The company focuses on organic growth and strategic acquisitions while ensuring responsible environmental practices.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced a strategic move to grant Endurance Gold Corporation an option to acquire 100% of the Olympic Claims, including the former Minto Gold Mine and other prospects. This decision, aligning with Avino's goal of becoming an intermediate producer in Mexico, involves Endurance paying a total of $100,000, issuing 1.5 million shares, and committing $300,000 for exploration by December 31, 2024. The agreement includes a 2% net smelter return royalty (NSR) and potential share purchase warrants for Avino, aimed at streamlining operations by divesting non-core assets.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced its Q1 2022 production results, highlighting a 15% decrease in silver equivalent production to 457,798 oz. Gold production fell 66% to 801 oz, while copper production rose 8% to 1.2 million lbs. The recent acquisition of La Preciosa marks a significant milestone aimed at creating a district-scale operation. Despite a 7% increase in mill throughput to 111,138 tonnes, the company emphasizes the importance of transitioning into typical gold grade zones, affecting overall production.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced positive drill results from its Oxide Tailings Project in Vancouver, BC. The 2021 drill campaign included 110 holes totaling 3,645 meters, aiming to upgrade inferred mineral resources. Highlights from recent drilling show notable gold and silver grades, including 0.76 g/t Au over 19.5 meters. The company plans to conduct additional drilling in 2022 and is moving towards dry stack tailings, enhancing resource management. This development aligns with Avino's growth strategy as it continues to push towards intermediate producer status.
Coeur Mining, Inc. has successfully completed the sale of its La Preciosa silver project in Durango, Mexico, to Avino Silver & Gold Mines Ltd. The deal includes various components: $15.3 million in cash, a $5 million promissory note, equity consideration of 14 million units, deferred cash of approximately $8.8 million, and contingent payments of $0.25 per silver equivalent ounce, capped at $50 million. The transaction aligns with Coeur's strategy to divest non-core assets and focus on high-return projects, including the Rochester POA 11 expansion in Nevada, expected by mid-2024.
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