ASM - Avino Silver & Gold Mines: A Decent Resource Update But Still A Sector Laggard
- Avino Silver & Gold Mines reported a significant increase in its silver-equivalent ounce resource since Q1 2018, with measured & indicated resources up 60% to 75.9 million ounces.
- This has pushed the total resource at the Avino Property up to 97.7 million silver-equivalent ounces, leaving Avino trading at barely $1.00 per silver ounce.
- However, the metals prices used as a cut-off in the update look quite generous, and this beefier resource does not change the fact that Avino is a very high-cost producer.
- Therefore, I see the stock as an Avoid above US$1.25, in favor of much better opportunities in the junior silver space.
For further details see:
Avino Silver & Gold Mines: A Decent Resource Update, But Still A Sector Laggard