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 Ltd. (TSX: ASM) reported its Q2 2021 results, highlighting a mining loss of $1.7 million and a net loss of $2.7 million, or $0.03 per share. They ended the quarter with $26.8 million in cash and $30.4 million in working capital, while reducing debt by $1.7 million. Operationally, production was minimal, with silver output down 93% to 3,504 ounces. Despite these challenges, the company resumed mining operations and has drilled 9,200 meters as part of its exploration program, targeting new mineralized zones.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced it will release its Second Quarter 2021 financial results after market close on August 11, 2021. A conference call and webcast will follow on August 12, 2021, at 8:00 a.m. PST. Participants can access the call via a provided link or by dialing the numbers mentioned.
Avino, a silver producer based in Durango, Mexico, focuses on creating shareholder value through growth and strategic acquisitions.
Avino Silver & Gold Mines Ltd. (TSX: ASM) has announced the resumption of mining operations at its Avino Mine in Durango, Mexico, following a closure period. The company has made several upgrades to improve mill recoveries and plans to ramp up throughput quickly. With higher metal prices, Avino anticipates generating positive cash flow. The restart is significant for local employment and community support. The company is also conducting infill-drilling and continuing its exploration program.
Avino Silver & Gold Mines Ltd. (TSX: ASM) has announced initial drill results from its 2021 exploration campaign, highlighting significant mineralization across multiple veins, including El Trompo, Santiago, and La Malinche. The drill program has covered 1,569 meters at El Trompo, showing promising grades, particularly in silver and gold. Geologically favorable conditions near existing infrastructure enhance the potential for further development. The company plans to integrate these data into its geological models to explore economic deposits and increase resources at the Avino mine.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced the successful outcomes of its Annual General & Special Meeting held on May 27, 2021. A total of 28,050,671 common shares, representing approximately 28.11% of issued shares, were voted. Resolutions included setting the number of directors at five, with all nominated directors receiving substantial votes for their election. Additionally, the appointment of Manning Elliott LLP as auditors and the approval of unallocated entitlements under the 2018 Rolling Stock Option and Restricted Share Unit Plans were passed, showing strong shareholder support.
Avino Silver & Gold Mines reported its Q1 2021 financial results, highlighting zero production due to a work stoppage, resulting in revenues of just $29, down 100% from $7,116 in Q1 2020. The company experienced a net loss of $1.8 million, or $0.02 per share, a significant increase from $232,000 in the previous year. However, they managed to reduce debt by $0.8 million and increase working capital to a record $31 million, attributed to strong metal prices. The company has plans for an expanded drill program and initiatives to restart production and support local communities.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced it will release its First Quarter 2021 financial results on May 12, 2021, after market close. A conference call and webcast will follow on May 13, 2021, at 9:00 a.m. PST. Participants can join the call without a passcode, with the opportunity to ask questions during the Q&A session. Avino operates primarily in silver production, with a strategy focused on organic growth and strategic acquisitions in Mexico.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE American: ASM) has announced a significant increase in its drilling program for 2021, escalating from 12,000 to 30,600 metres. This fully funded initiative aims to enhance shareholder value and includes additional phases and drilling on the Oxide Tailings resource. The budget for capital expenditures has also risen, expected to be between $9 and $11 million, up from $6 to $8 million. The company emphasizes adherence to COVID-19 safety protocols to protect its workforce and the surrounding community.
Avino Silver & Gold Mines Ltd. (ASM) reported its consolidated financial results for Q4 and the year ending 2020. The company faced challenges due to the pandemic, leading to operational suspensions and a strike. Financial highlights include Q4 revenues of $1.4 million, an 87% decrease from the previous year, and a net loss of $1.6 million, $0.02 per share. Total revenues for 2020 were $16.0 million, a 50% decline year-over-year. The company reduced debt by $7.1 million and is focused on ramping up operations in 2021, having reported an increase in measured and indicated mineral resources.
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