Avino Silver & Gold Mines Ltd.
Avino Silver & Gold Mines operates the Avino silver-gold-copper mine in Durango, Mexico, and is developing the adjacent La Preciosa property; Q1 2026 mine operating cash flow rose 134% year-over-year to a record US$26.7 million, with net income of US$15.9 million, a record US$139 million cash position, and no secured debt beyond standard equipment leases.
Notable vs. Peers
- Financials score of 8.6/10 is stronger than the peer average of 7/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Feb 2012 · Source
- Nov 2012 · Source
- Jan 2015 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 26%Oxide Tailings Project
- 9 yrsOxide Tailings Project
Jurisdiction (40%)6/10
Mexico has a long mining tradition and skilled workforce, but security concerns in some states and an evolving regulatory/mining-law environment add meaningful risk versus the US/Canada.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Avino Mine, Durango, Mexico.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Velardena (Industrias Penoles, S.A.B. de C.V.), 83 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:3.9/10
Nearest producing mine: Velardena (Industrias Penoles, S.A.B. de C.V.), 83 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Mexico: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:5/10
Primary commodity: Silver
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Avino Silver & Gold Mines Ltd., listed on the NYSE American and Toronto Stock Exchange; also Chairman & Chief Executive Officer of Silver Wolf Exploration Ltd. Over 35 years of public company experience in mineral resources including exploration, development, construction and operations in precious metals across North America. Developed the company from a minority owner of the closed Avino mine in 2001 to 100% ownership in 2006 and into commercial production in 2012; the company has since grown to 500+ employees with a market capitalization reaching as high as US$800 million, and in 2025 ranked 5th in the TSX 30 with +610% dividend-adjusted share price appreciation over three years. Experienced in M&A, capital markets, brokered and private placement financings, offtake agreements, at-the-market offerings and credit facilities totalling more than US$350 million in aggregate, and was the architect of strategic transactions between Coral Gold and the Cortez Joint Venture. Studied business and geology at Colorado State University and Simon Fraser University, and since the early 2000s has managed the Oniva International Services Group.
Chief Operation Officer of Avino Silver & Gold Mines Ltd.; also Vice President, Exploration of Silver Wolf Exploration Ltd. A professional geologist with over 42 years of experience in underground mining and regional exploration across Mexico, and a graduate of the University of Sonora (Geology, 1984) and the Colorado School of Mines (Mineral Exploration, 1998). Previously served as Avino's Chief Geologist before the mine's 2001 closure and rejoined in 2006 as Mine Exploration and General Manager, since leading key initiatives including the discovery of the San Gonzalo deposit in 2007, the rehabilitation of the 250 tpd flotation circuit and the development of a water treatment facility, with current efforts focused on expanding mill capacity to 2,500 tpd.
Chief Financial Officer of Avino Silver & Gold Mines Ltd.; also Chief Financial Officer of Silver Wolf Exploration Ltd. (CPA) A Canadian Chartered Professional Accountant with over a decade of finance experience across mineral exploration, development, production and royalties in North and South America and Africa. Joined Avino in 2016 and became CFO in 2018. Career: CFO, Coral Gold Resources Ltd., through its completed Nov 2020 acquisition by Nomad Royalty Company for US$45.8 million; earlier, specialized in public mining companies at Deloitte LLP, Vancouver.
Senior Vice President, Technical Services of Avino Silver & Gold Mines Ltd.; also President & Director of Silver Wolf Exploration Ltd. A professional engineer and a 2007 graduate of the University of British Columbia with a degree in Metals and Materials Engineering, and a 2017 graduate of Simon Fraser University's Beedie School of Business with a Master of Business Administration. Has 20 years of operational, engineering and commercial experience in the mining industry and has worked on mining projects across six continents, including silver projects from the Yukon to southern Argentina, with significant experience in operational commissioning, troubleshooting and optimization. At Avino he oversees the technical aspects of the company's operations including technical reporting, manages commercial relationships for Avino's products, and contributes to new project evaluations.
Senior Vice President, Corporate Development of Avino Silver & Gold Mines Ltd. A mining development and exploration executive with over 20 years of experience in corporate development, capital markets and strategic transactions within the mining sector. Most recently served as Chief Development Officer of MAG Silver Corp., where over more than a decade he played a key role in advancing the company's project portfolio and corporate strategy, culminating in MAG Silver's US$2.1 billion acquisition by Pan American Silver. Previously held senior roles with Hecla Mining Company and Aurizon Mines Ltd. Holds a Bachelor of Science in Resource Economics (Honours) from the University of British Columbia and an MBA from the Richard Ivey School of Business.
Corporate Secretary of Avino Silver & Gold Mines Ltd., having joined in December 2021; also Corporate Secretary of Silver Wolf Exploration Ltd. Over 25 years of experience in securities and corporate finance, bringing extensive expertise from 13 years as Corporate Secretary and Vice President, Corporate Affairs at Minco Silver Corporation, Minco Capital Corp. and other publicly traded companies. A certified Paralegal from Capilano University, she holds a Certificate in Mining Law (2019) and completed the Fundamentals of U.S. Securities Law at Osgoode Hall Law School (2021).
Head of Investor Relations of Avino Silver & Gold Mines Ltd. Over 26 years of experience with publicly traded mining companies in Canada and abroad, having joined Avino in 2016 after 17 years with Aurizon Mines Ltd., where she contributed until its CAD$796 million acquisition by Hecla Mining. From 2013 to 2016 she was based in London advising FTSE-listed companies on annual reporting and capital markets communications. Holds management and criminology studies from Thompson Rivers University and Kwantlen Polytechnic University along with the Canadian Securities Course, and is a member of CIRI and Women in Mining.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
We checked properly and found no informed capital taking a position. Avino has more than a hundred institutional filers and 30% institutional ownership, but the largest names are ETF issuers, index managers, quantitative trading firms and banks -- Mirae, Van Eck, DZ Bank, Arrowstreet, Jane Street, Man Group, UBS, Bank of America, Tidal, SG Americas. Not one resolves to a dedicated resource fund with a disclosed position, no producer or strategic investor holds a stake, and there are no insider transactions on record. A 1 here means checked-and-nothing-found, not that anything is wrong with the company.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Avino Silver & Gold Mines operates the Avino silver-gold-copper mine in Durango, Mexico, which resumed full-scale operations on 1 January 2015, and is developing the adjacent La Preciosa property. Its inaugural consolidated statement (effective 31 October 2025) gives 207,270,000 oz of silver in measured and indicated resources at 95 g/t across the Avino mine, La Preciosa and the oxide tailings, inclusive of a proven and probable reserve of 127 Moz silver-equivalent, plus 56,820,000 oz inferred. The February 2024 oxide tailings pre-feasibility study shows a post-tax NPV5% of US$61M and a 26% IRR over a 9-year life, with initial capital of US$49.1M; there is no published study for the main mine and La Preciosa. Q2 2026 production was 267,305 oz of silver, 2,178 oz of gold and 729,929 lb of copper (534,945 silver-equivalent ounces), and all-in sustaining cost in Q1 2026 was US$34.72 per payable silver-equivalent ounce sold.
Avino Silver & Gold Mines' first-ever Consolidated Mineral Reserve estimate (effective 31 Oct 2025), combining the Avino Mine, La Preciosa and the Oxide Tailings Deposit: 27 Mt of Proven+Probable reserves containing 95 Moz silver at 109 g/t, plus 356 koz gold and 85 Mlb copper -- roughly 127 Moz silver-equivalent. Measured+Indicated Mineral Resources total 67.7 Mt / 301 Moz AgEq at 162 g/t; Inferred totals 24.8 Mt / 87.6 Moz AgEq at 123 g/t. Company states ~42% of resources were converted to reserves.