# Avino Silver & Gold Mines Ltd

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/Avino Silver & Gold Mines Ltd).

## Overview

Avino Silver & Gold Mines Ltd. is a Canadian-incorporated metals company focused on producing silver, gold, and copper from mining properties in Mexico. Its business combines operating mine production with the acquisition, exploration, and advancement of mineral properties.

## Products & services

• Silver, gold, and copper production
• Mine development and advancement
• Mineral property acquisition
• Exploration of near-mine and district assets

- **Metal production** (85%) — Sale of mined silver, gold, and copper concentrates or product streams.
- **Mine development** (10%) — Advancement of operating and development-stage mineral properties.
- **Exploration assets** (5%) — Acquisition and exploration of mineral properties to build future production.

- Silver, gold, and copper production
- Mine development and advancement
- Mineral property acquisition
- Exploration of near-mine and district assets

## Customers

Avino sells its metal production into the broader commodities market, where buyers are typically refiners, smelters, trading houses, or metal off-takers. Demand is driven by industrial usage, precious-metals investment demand, and smelting/refining capacity rather than by a narrow end-customer base.

- **Smelters and refiners** (primary) — Buy silver-, gold-, and copper-bearing production for processing and resale.
- **Commodity traders** (secondary) — Purchase or intermediate metal production for physical marketing and logistics.
- **Industrial copper users** (secondary) — Ultimately consume copper produced from the company's mining operations.
- **Precious-metals market** (primary) — Absorbs silver and gold output through bullion and refining channels.

- Smelters and refiners buying concentrate or metal output
- Commodity traders and marketing counterparties
- Industrial metal consumers indirectly exposed to copper
- Precious-metals market participants and distributors

## Geography

The company is incorporated in Canada and has its principal office in Vancouver, while its operating mining assets are in Durango, Mexico. Its current production base is therefore tied to Mexican mining, permitting, logistics, and local operating conditions, with Canadian and U.S. reporting and capital markets access.

- **Mexico** (100%) — Operating assets and mine production are located in Durango.

- Head office in Vancouver, British Columbia, Canada
- Operating mine and property assets in Durango, Mexico
- Canadian and U.S. reporting issuer status
- Listings in Toronto, New York, and Germany

## Strategy

Avino’s strategy centers on sustaining production from its operating mine while advancing additional mineral properties for future growth. The portfolio also includes exploration and development assets that can extend mine life, diversify production, and convert the company from a single-asset operator into a broader mining platform.

- **Sustain operating mine performance** (short-term) — Current production is the base for cash generation and operating continuity.
- **Advance development assets** (medium-term) — Development properties provide future production optionality and reserve growth.
- **Expand mineral inventory** (medium-term) — Exploration supports longer mine life and reduces dependence on a single ore body.

- Maintain and expand production from the Avino mine
- Advance La Preciosa as a future development asset
- Preserve optionality through exploration on owned properties
- Use by-product and multi-metal exposure to diversify output

## Risks

Avino’s business is exposed to mine operating risk, commodity-price volatility, and country-specific operating conditions in Mexico. As a miner with development and exploration assets, it also faces permitting, geology, reserve estimation, and capital-allocation risk tied to converting resources into production.

- **Commodity price volatility** [high] — Revenue depends on silver, gold, and copper prices, which move with global markets.
- **Mine operating variability** [high] — Output depends on grade, throughput, recovery, and underground operating conditions.
- **Mexico country and permitting risk** [high] — Core assets are located in Mexico, where local permitting, labor, and regulatory factors matter.
- **Exploration and development risk** [medium] — Project advancement may not translate into economic reserves or future production.

- Metal prices directly affect revenue and operating economics
- Mine grades and recovery rates can vary materially over time
- Mexican operating and permitting conditions affect continuity
- Development assets may require additional capital and time
- Reserve and resource estimates are uncertain and can change

## Accounting

For a miner like Avino, reported results depend heavily on estimate-driven areas such as mineral reserves, depletion, and asset impairments. The company also uses IFRS judgment in consolidating its Mexican subsidiaries and in measuring exploration and development assets that may later be written down if projects do not progress as expected.

- **Mineral reserve and resource estimates** — Can materially change carrying values and production cost allocation
- **Exploration and evaluation assets** — May be written down if projects stall or economics deteriorate
- **Impairment of mining properties** — Can create large non-cash charges if assumptions weaken
- **Foreign currency translation** — Affects reported equity and period results

- Reserve estimates affect depletion and mine asset values
- Exploration assets may require impairment if economics weaken
- Mineral property carrying values depend on future project success
- Metal sales timing can affect period-to-period revenue
- Foreign subsidiaries require consolidation and FX translation

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*Last updated: 2026-09-28T11:57:34.641567+00:00*