ASM - Avino Silver & Gold: La Preciosa Acquisition Adds Meaningful Ounces Next Door
- Avino Silver & Gold is one of the worst-performing silver producers this year, down 26% vs. a 13% decline in its benchmark, the Silver Miners Index.
- However, the company recently made a significant acquisition, acquiring the La Preciosa Project from Coeur, which has led to a substantial increase in its resource base.
- Given the potential synergies due to the proximity of the project to its Avino Silver Mine, this looks like a solid deal for the company, assuming it can execute successfully.
- At a current fully diluted market cap of ~$125 million, once the deal closes, Avino continues to look reasonably valued, trading at a valuation of less than $1.00 per M&I silver ounce.
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Avino Silver & Gold: La Preciosa Acquisition Adds Meaningful Ounces Next Door