Brien Lundin, in the August, 2017, edition of the Gold Newsletter, refreshes his buy of Avino Silver & Gold Mines Ltd., recently $2.14. Mr. Lundin said buy eight times from October, 2013, to May, 2017, at prices ranging from $1.24 to $2.57. Assuming a $1,000 investment for each of the eight buys, the $8,000 position is now worth $10,462. Avino recently released its second quarter financials. These showed production of 698,174 silver equivalent ounces from the company's Avino complex in Mexico, up from 629,780 ounces a year earlier. Although revenue fell by 12 per cent to $7.9-million (U.S.), mine operating income edged up by 1 per cent to $2.5-million (U.S.). Avino is forecasting similar production performance over the rest of the year. Meanwhile, at its Bralorne gold project in British Columbia, Avino is considering whether to open a mine at a higher operating rate than initially planned. The company will assess the feasibility of this approach through a drill program that is expected to start this fall. Mr. Lundin concludes that Avino offers "a quality lever on rising precious metals prices." The stock is a buy at current levels and a strong buy on any short-term weakness.
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