Avino Silver & Gold Mines: Another Strong Year On Deck

Taylor Dart profile picture
Taylor Dart


  • Avino Silver & Gold released its Q4 and FY2022 results last week, trouncing its internal estimates of 2.3 million SEOs, with FY2022 production of ~2.66 million silver-equivalent ounces [SEOs].
  • This represented the mine's best year from a production standpoint since 2018, and the company expects to see further growth next year with the potential for ~3.0 million SEOs.
  • The most significant recent news is the company's outlook to potentially more than triple production by 2028, which could be achieved with La Preciosa and its Oxide Tailings Project.
  • However, while this would represent industry-leading growth at relatively modest capex, the stock is extended short-term, suggesting an increased risk in paying up for the stock above US$0.85.

Mining work


Just over eight months ago, I wrote an update on Avino Silver & Gold Mines (NYSE:ASM), noting that the stock had a better year ahead but that it was nowhere near a low-risk buy point at US$0.93

Avino Mine Operations

Avino Mine Operations (Company Website)

Avino - Annual SEO Production

Avino - Annual SEO Production (Company Filings, Author's Chart)

Dry Stack Tailings Facility

Dry Stack Tailings Facility (Company Presentation)

Long Section - Avino Vein with Recent Drilling & Grades

Long Section - Avino Vein with Recent Drilling & Grades (Company Website)

Avino - Quarterly Revenue & Mine Operating Income

Avino - Quarterly Revenue & Mine Operating Income (Company Filings, Author's Chart)

Avino - Conceptual Growth Profile

Avino - Conceptual Growth Profile (Company Presentation)

Avino Mine & La Preciosa Project Location & Infrastructure

Avino Mine & La Preciosa Project Location & Infrastructure (Company Presentation)

Avino Valuation & Resource vs. Peers

Avino Valuation & Resource vs. Peers (Company Presentation)

ASM Weekly Chart

ASM Weekly Chart (TC2000.com)

Daily Sentiment Index Data, Author's Chart

Silver - Bullish Sentiment Percentages (Daily Sentiment Index Data, Author's Chart)

This article was written by

Taylor Dart profile picture
"A bull market is when you check your stocks every day to see how much they went up. A bear market is when you don't bother to look anymore."- John Hammerslough - Disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading or investing.

Disclosure: I/we have a beneficial long position in the shares of IAUX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Disclaimer: Taylor Dart is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Taylor Dart expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing. Given the volatility in the precious metals sector, position sizing is critical, so when buying small-cap precious metals stocks, position sizes should be limited to 5% or less of one's portfolio.

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