Avino Silver & Gold Mines (ASM) 2025 Precious Metals Summit - Beaver Creek summary

Project portfolio and growth strategy

• Three assets in Durango, Mexico: one producing (Avino Mine), two in development (La Preciosa, Oxide Tailings Project).

• La Preciosa acquired for $30–$35 million, targeting production next year with low CapEx by trucking ore to Avino's mill.

• Oxide Tailings Project has $50 million CapEx, projected NPV5 of $160–$170 million, and $10 all-in sustaining costs.

• Resource base totals 370 million ounces silver equivalent, with over 60% silver; plan to triple production by 2029.

• Growth plan: Avino steady, La Preciosa online Q4 this year, Oxide Tailings Project in 2028–2029.

Financial performance and balance sheet

• Profitable recent quarters, aided by higher silver prices; $4.5 million free cash flow generated.

• All-in costs at $20–$21/oz, aiming to reduce further as new mines come online.

• $37 million cash and $40 million working capital at Q2, now closer to $50 million after royalty repurchase.

• Debt-free except for operating leases, providing flexibility for growth.

• Repurchased 1.25% and 2% royalties on La Preciosa, expected to lower future operating costs.

Operational updates and development milestones

• Avino Mine operates at high throughput and low cost ($50–$55/ton), with strong mill availability.

• La Preciosa: recent high-grade drill results (up to 1,600 g/t silver over 10m), ramp development completed, production mining to start late this year or next.

• New Sandvik and Caterpillar equipment deployed at La Preciosa; blasting and ground support underway.

• Oxide Tailings Project PFS released in 2024, NPV5 now $160–$170 million, post-tax IRR over 50%.

• Mill capacity at 800,000 tons/year, with expansion scenarios under review.