ASM - Avino Silver & Gold Mines: A Better H2 Ahead

• Avino Silver & Gold has finally restarted operations at its Avino Mine on August 3rd and is set up for a much better H2 with mill throughput ramping up.
• This should contribute to a much stronger year in 2022, with investors able to look forward to a steady stream of exploration results given the 30,000-meter drill program.
• At a market cap of ~$85 million fully diluted, Avino remains very reasonably valued, trading at $1.19 per silver-equivalent ounce.
• Having said that, there are much better opportunities elsewhere in the sector, with several producers trading at discounts to NAV and paying dividends, so I have no plans to start a position in Avino at this time.

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