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) will announce its Fourth Quarter and Year End 2020 financial results on March 3, 2021, after market close. A conference call and webcast will follow on March 4, 2021, at 8:00 a.m. PST. Shareholders and interested parties can join via a provided link or by telephone. Avino primarily operates in Mexico, focusing on silver production and maintaining an unhedged position. The company's strategy emphasizes organic growth and strategic acquisitions.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE: ASM) announced the initiation of its 2021 drilling program, comprising 12,000 meters targeting key veins at the Avino property. The program aims to expand mineralization and confirm continuity in areas like the El Trompo, Santiago, and Avino ET veins. The exploration budget for 2021 is set between US$6 million and US$8 million. Additionally, improvements in the dry stack tailings project are underway, expected to enhance operational safety and efficiency.
Avino Silver & Gold Mines Ltd. (TSX:ASM) has filed a new short form base shelf prospectus and a prospectus supplement allowing for the distribution of common shares worth up to US$25.0 million in the United States. The sales will occur under a sales agreement with designated agents on the NYSE American. A cash commission of up to 3.0% of gross proceeds will be paid to the agents. The offering aims for market prices during the sales period, which continues until the maximum amount is reached or terminated earlier.
Avino Silver & Gold Mines Ltd. (ASM) has announced an updated mineral resource estimate for its Avino Property in Mexico. Highlights include a 60% increase in silver equivalent ounces to 75.9 million ounces and a 90% increase in overall tonnage, totaling 20.3 million metric tonnes. Gold and copper grades also improved by 6% and 11%, respectively. However, there was a 10% decrease in consolidated silver grades due to depletion at San Gonzalo. The report, prepared by Tetra Tech Inc., will be available on SEDAR and SEC.
Avino Silver & Gold Mines Ltd. (ASM) announced its Q3 2020 financial results, revealing a significant revenue drop of 61% to $2.7 million due to a strike halting production. The net loss from continuing operations rose to $4.6 million, or $0.05 per share. Despite cash reserves increasing by 20% to $12.5 million, mine operating losses totaled $0.2 million, impacted by $0.9 million in standby costs. The company is preparing to restart operations following the resolution of the strike, with a reported $3 million raised from warrant exercises.
Avino Silver & Gold Mines Ltd. (ASM) will announce its Third Quarter 2020 financial results on November 9, 2020, after market close. A conference call and webcast are scheduled for November 10, 2020, at 8:00 a.m. PST (11:00 a.m. EST) to discuss the results. Participants can join the call without a passcode and are invited to ask questions. The company is focused on creating shareholder value through profitable growth and strategic acquisitions at its Avino Mine in Mexico.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced the conclusion of a strike at its Avino Mine following 12 weeks of negotiations with the Mexican Mining Union. President and CEO David Wolfin praised the efforts of the management team and thanked the local community for their support. Prior to resuming operations, the company will assess all mining equipment. Additionally, Avino is progressing with the construction of a dry-stack tailings storage facility (TSF#2), which is expected to foster community support and enhance production activities, benefiting local economies.
Avino Silver & Gold Mines Ltd. (ASM) reported successful outcomes at its Annual General Meeting held on August 27, 2020, with 29,992,209 shares representing 35.84% of outstanding shares voted. Key resolutions passed include setting the board of directors at five members and electing Ronald Andrews, Peter Bojtos, Gary Robertson, David Wolfin, and Jasman Yee, each with over 96% support. Additionally, Manning Elliott LLP was appointed as auditors with 96.39% approval. The board expressed appreciation for shareholder support.
Avino Silver & Gold Mines Ltd. (ASM) announced an option agreement with Gray Rock Resources Ltd. for the exclusive right to acquire a 100% interest in the Ana Maria and El Laberinto properties in Mexico. Gray Rock will issue Avino share purchase warrants for 300,000 common shares at $0.20 each, and make total payments of $600,000 in cash or shares over four years. Additionally, Gray Rock must incur $750,000 in exploration expenditures. The agreement, deemed a related party transaction, awaits approval from the TSX Venture Exchange.
Avino Silver & Gold Mines Ltd. (ASM) announced its second quarter financial results for 2020, revealing revenues of $4.8 million, a decline of 38% from Q2 2019. The company faced operational challenges due to COVID-19, leading to a significant drop in silver and gold production by 78% and 75%, respectively. However, mine operating income increased by 166% to $0.8 million. Despite a net loss of $1.1 million, adjusted EBITDA was up 458% at $2.0 million. The company has $13.8 million in working capital and reduced debt by $2.2 million since December 2019.
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