ASM - Avino Silver & Gold's production slipped in Q1 due to mine sequencing

Avino Silver & Gold Mines (NYSE:ASM) slides nearly 2% in early trading Thursday after Q1 production fell, saying the decline was expected due to mine sequencing into more typical gold-grade zones at the Avino mine property in Mexico. Avino (ASM) said Q1 silver equivalent production fell 15% Q/Q to nearly 458K oz, as silver output remained constant at 164,358 oz, copper production gained 8% Q/Q to 1.2M lbs, and gold output fell 66% to 801 oz; mill throughput increased by 7% to 111,138 metric tons. "With the closing of the La Preciosa acquisition, we are excited to move forward with a goal of creating a district-scale operation which will provide significant benefits for all our stakeholders," President and CEO David Wolfin said. Seeking Alpha contributor Taylor Dart sees Avino (ASM) as a Speculative Buy at $0.75 as a trading vehicle.

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Avino Silver & Gold's production slipped in Q1 due to mine sequencing