Avino Announces Q3 2026 Production Results

Avino Silver & Gold Mines Ltd. (ASM) reported third-quarter 2026 production of 303,189 ounces of silver, 1,732 ounces of gold, and 1,202,821 pounds of copper, totaling 582,836 silver-equivalent ounces. Silver output increased 15% year over year from 263,231 ounces, while gold and copper production fell 10% and 8%, respectively. Consolidated silver-equivalent production rose just 2% year over year, moving from 571,775 ounces to 582,836 ounces.

Mill feed reached 190,379 dry tonnes, a 1% increase year over year. Silver feed grade rose 38% to 72 g/t, while gold grades remained flat and copper grades increased 10% to 0.43%. Recoveries weakened significantly across all metals: silver dropped to 70% from 84% in the third quarter of 2025, gold fell to 67% from 74%, and copper declined to 79% from 81%.

La Preciosa contributed 105,867 silver-equivalent ounces, up 5% from the second quarter of 2026, including 91,441 ounces of silver and 166 ounces of gold. Development mining and mill throughput at the site exceeded 450 tonnes per day during the quarter, with long-hole mining at Level 3 of Abundancia and La Gloria nearing completion. Management stated that La Preciosa grades were below plan because elevated silver prices justified processing additional lower-grade development ore.

The company also mined and processed surface mineralized material outside current reserves due to lower extraction costs. This material featured good silver and gold grades but lower copper grades and high oxidation, which negatively impacted recovery.

Exploration activity included 10,675 metres completed at La Preciosa and 9,400 metres at Avino year to date. A full 2026 drilling update is pending.

Regarding its normal course issuer bid (NCIB), Avino repurchased and cancelled 784,771 shares up to September 30, 2026. The company is permitted to repurchase up to 8,428,566 shares before April 7, 2027.

Avino’s third-quarter 2026 financial statements are scheduled for release on November 4, 2026, with a conference call set for November 5, 2026.

Avino Silver & Gold Mines Ltd. (ASM) issued a production release that contains no revenue, margin, cash flow, or revised cost guidance. The company reported a headline increase in silver output, but this was partly offset by lower gold and copper production and sharply lower recoveries, leaving AgEq up only 2% year over year.

At the La Preciosa mine, operations are moving toward higher-grade long-hole mining, a development considered a key positive catalyst. However, current contributions remain in the form of development ore and are below planned grade levels. The release did not cut or raise 2026 guidance, leaving the market waiting for Q3 financials and Q4 operating results.

The stock had already fallen sharply leading into the release. From the Q2 2026 financial results on August 12, 2026 to October 14, 2026, shares fell from $9.94 to $6.97, a decline of about 30%.

Avino Silver & Gold Mines Ltd. (TSX: ASM; NYSE American: ASM; FSE: GV6) is a Mexico-focused silver producer. Its core asset is the wholly owned Avino Mine near Durango, which features a 2,500 tpd flotation plant with four independent mill circuits. The company is also developing La Preciosa, acquired from Coeur Mining in 2022. Located 19 km from the Avino mill via paved road, La Preciosa is permitted for 400-500 tpd processing. Additionally, the company has completed a 2024 pre-feasibility study for the Oxide Tailings Project.

Avino produces silver, gold, and copper, with unhedged production. Management targets a mix of approximately 75% of consolidated AgEq production from silver over time. Infrastructure includes a dedicated powerline with 7.3 MW capacity and 2 MW excess, a high water supply, and a dry-stack tailings facility commissioned in 2022. The company employs a 100% Mexican workforce, primarily local, citing more than 500 direct jobs and about 1,500 indirect jobs in prior disclosures. Avino describes itself as advancing toward becoming a mid-tier primary silver producer.