Avino Silver & Gold Mines
Avino Silver & Gold Mines is a Vancouver-based mining company with properties in both Canada and Mexico. However, its flagship property, Avino Property (Avino Mine, San Gonzalo Mine, Tailings), is situated near Durango, Mexico.
Avino Property has a long history. The Avino deposit was found by Spanish aristocrat Juan de Tolosa, and was later created by Captain Francisco Ibarra of Cortez’s armed force. This property has been dug on and off for a long time. In the eighteenth Century, British financial specialists possessed it and it was recorded on the London Stock Exchange. In those days, Avino Property was the biggest open pit mine on the planet.
The present administration got included with the property in the late 1960s. They were searching for mines that had shut amid the upheaval, and they discovered Avino Property. Thusly, they framed Avino Silver and Gold and gained 51 percent of Avino Property in 1968. In 2006, the organization obtained the rest of the 49 percent of Avino Property.
In the 27-year time frame from 1974 to 2001, the organization delivered 16 million ounces of silver, 96,000 ounces of gold, and 24 million pounds of copper. In 2001, operation was ended in light of the fact that metal costs were too low.
The company’s shares are currently trading around 2.19 a share with an average daily volume of 196,744. Its market capitalization is just below 94 million, while outstanding shares are around 37 million.
In the latest quarter, it generated revenues of $11.9 million, representing a growth of 102% from the second quarter of 2015. Its net loss Net income after taxes stood around $(450,087).
“Clearly the highlight of the Company’s second quarter was declaring commercial production at the Avino Mine, our second and largest mining operation,” said David Wolfin, Avino’s President and CEO. “This achievement marks years of determined effort by our entire team, both in Mexico and Canada, for which I am grateful. The Company is significantly more valuable as a result.