Avino Silver & Gold Mines Ltd. (ASM:TSX; ASM:NYSE; GV6:FSE) reported second quarter 2026 production of 267,305 silver ounces, 2,178 gold ounces, and 729,929 pounds of copper, for total production of 534,945 silver equivalent ounces.
According to the company, ongoing extraction, haulage, and processing of mineralized development material from La Preciosa exceeded plan during the quarter, primarily because Mill Circuit 2 became available. The company said the increased throughput was offset by the intentional processing of lower-grade development ore during a period of elevated metal prices that otherwise would have been stockpiled.
Avino said production from La Preciosa increased 59% from the first quarter of 2026, contributing 100,658 silver equivalent ounces consisting of 84,806 silver ounces and 182 gold ounces. Total silver equivalent production declined from the second quarter of 2025 as a result of lower copper production, which the company attributed to planned mining sequencing into lower copper grade areas near the historical open pit operations at Avino.
Mill throughput totaled 184,293 dry tonnes during the quarter from the Avino and La Preciosa operations. The company said steady mill performance and availability reflected targeted upgrades and automation initiatives completed by its operations and maintenance teams over recent years.
At La Preciosa, development mining and haulage rates increased during the quarter, allowing Mill Circuit 2 to transition from ET ore to La Preciosa development ore. The company said both Mill Circuits 1 and 2 are now processing La Preciosa development ore. Development and mine preparation work is also nearly complete on Level 3 of the Abundancia and Gloria areas.
At the Avino Mine, the company said it identified surface mineralized material near its current workings that was outside current reserves. Avino elected to mine, haul, and process the material in one of its larger mill circuits, stating that silver and gold grades have been "quite good," while copper grades were lower due to the near-surface nature of the material.
"The second quarter of 2026 represented a meaningful increase in contribution from La Preciosa with a 59% increase in silver production, as we continue to move the project forward," President and Chief Executive Officer David Wolfin said in the company news release. "Mill performance remained solid during the quarter, with tonnes milled exceeding expectations, and contributions from La Preciosa development ore continued to increase throughout the quarter."
During the quarter, Avino repurchased and canceled 508,039 common shares under its normal course issuer bid. The company also said it expects to release its Q2 2026 financial statements and results before the market opens on Aug. 12, 2026, followed by a conference call later that day.
Precious Metals Prices Remained Elevated as Market Focus Stayed on Long-Term Monetary Trends
Matthew Piepenburg of VON GREYERZ said in a July 27 interview with InvestingNews.com that recent volatility in the gold market reflected short-term pressures rather than a change in broader monetary conditions. He attributed the pullback to "forced sales from sovereigns seeking liquidity in a time of war," algorithm-driven selling by hedge funds and exchange-traded funds, and "the COMEX's open (and shameless) price manipulations on 'Silver Friday' of late January." Piepenburg also argued that rising bond yields had not diminished gold's appeal, stating that yields were "in fact negative rather than positive when measured against honest rather than 'official' inflation metrics." He further described what he characterized as a "sea change" in the global monetary and trade systems, arguing that US Treasuries are steadily being displaced by gold as the world's most trusted form of collateral.
Morning spot prices on July 28 reflected continued strength in precious metals despite a modest daily pullback. Silver traded at US$57.97 per ounce, down US$1.03, or 1.75%, on the day, while gold traded at US$4,041.53 per ounce, down US$42.57. Historical pricing data showed silver remained up 49.84% over the previous 12 months and 128.22% over the past five years. According to the spot price data, the silver spot price represented the benchmark value for immediate delivery and was determined by active global markets, including COMEX and the London Bullion Market Association, with prices changing throughout the day based on "supply, demand, and economic news." The data also stated that physical bullion products were typically priced at a premium to the underlying spot price.
On July 28, newsletter writer Chen Lin wrote, "Gold is still consolidating, trying to build a bottom at around 4000. No breakout yet, but the longer gold stays around US$4,000, the better. I think September could be the month we have a breakout to the upside, I am building my positions during the summer."
2026 Work Programs Continue Across Operations
At La Preciosa, two drill rigs are currently operating. The company said 6,591 meters had been completed by the end of the second quarter as part of its planned 15,000-meter exploration program for 2026. Drilling has shifted from infill holes to exploration and step-out holes targeting vein intersections and projections. The company noted that none of the completed infill holes were included in the mineral reserve update and that most exploration holes are located outside the current resource model.
The company said engineering and technical studies are ongoing to evaluate optimum long-term mining, hauling, and processing rates at La Preciosa. It is also conducting trade-off studies between continued hauling and the potential construction of a stand-alone processing facility at the project.
At the Avino Mine, drilling remains ongoing in the same locations as during the first quarter. One drill is focused on the upper eastern portion of the system, while a second is conducting extension drilling in the footwall breccia area. The company said geological consultants are also assisting with identifying geological features for potential resource expansion.
Streetwise Ownership Overview*
Avino Silver & Gold Mines Ltd. (ASM:TSX; ASM:NYSE.MKT; GV6:FSE)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 08/29/97 | IVV:TSX | 1 | ASM:TSX | 1 |
Separately, the company presentation states that both the La Preciosa and Avino Mine exploration programs are budgeted for 15,000 meters during 2026. It also lists artificial intelligence integration of geological data for resource and reserve expansion and new exploration discoveries at both operations.
Ownership & Share Information1
Avino Silver & Gold Mines Ltd. has a market cap of around CA$1.21 billion, with 170.20 million shares outstanding. The company's 52-week range is CA$4.31-CA$16.11.
Management & Insiders own 6.77% of shares, while Institutions own 30.9%, and strategic entities own 0.02%. The remaining shares are held by Retail.
Frequently Asked Questions
What were Avino Silver & Gold Mines' Q2 production results?
Avino Silver & Gold Mines reported second-quarter production of 267,305 silver ounces, 2,178 gold ounces, and 729,929 pounds of copper, totaling 534,945 silver equivalent ounces.
Why did Avino's silver equivalent production decline year over year?
According to the company, total silver equivalent production declined from the second quarter of the previous year because of lower copper production resulting from planned mining in lower-grade copper areas near the historical open pit operations at the Avino Mine.
How much did La Preciosa contribute to Avino's Q2 production?
La Preciosa produced 100,658 silver equivalent ounces during the quarter, including 84,806 silver ounces and 182 gold ounces. The company said silver production from La Preciosa increased 59% compared with the first quarter.
What is happening at the La Preciosa project?
Avino said development, mining, and haulage increased during the quarter, allowing both Mill Circuits 1 and 2 to process La Preciosa development ore. The company is also conducting a 15,000-meter exploration drilling program and evaluating long-term mining and processing options.
How much drilling is Avino planning in 2026?
The company said both the La Preciosa and Avino Mine exploration programs are budgeted for 15,000 meters during 2026. By the end of the second quarter, 6,591 meters had been completed at La Preciosa.
What is Avino exploring at the Avino Mine?
The company said two drill rigs remain active at the Avino Mine. One is targeting the upper eastern portion of the system, while the other is conducting extension drilling in the footwall breccia area. Geological consultants are also assisting with identifying potential resource expansion targets.
Why did Avino process lower-grade ore during the quarter?
The company said it intentionally processed lower-grade development ore during a period of elevated metal prices instead of stockpiling the material. Increased throughput from Mill Circuit 2 helped support the decision.
What upgrades improved Avino's mill performance?
According to the company, steady mill throughput and availability reflected targeted mill upgrades and automation initiatives completed by its operations and maintenance teams over recent years.
Is Avino using artificial intelligence in mineral exploration?
Yes. The company's presentation states that it plans to integrate artificial intelligence into geological data analysis to support resource and reserve expansion as well as new exploration discoveries at both the Avino Mine and La Preciosa.
When will Avino report its Q2 financial results?
Avino said it expects to release its second-quarter financial statements before the market opens on Aug. 12, followed by a conference call later that day.
Did Avino repurchase shares during the quarter?
Yes. The company said it repurchased and canceled 508,039 common shares under its normal course issuer bid during the second quarter.
What metals does Avino Silver & Gold Mines produce?
Avino produces silver, gold, and copper. The company reported quarterly production figures for all three metals and also reports total silver equivalent production.
What is silver equivalent production?
Silver equivalent production combines the value of silver, gold, and copper production into a single silver-based metric, allowing investors to compare overall metal output using one standardized measure.
Why are investors following Avino Silver & Gold Mines?
Investors are monitoring Avino's production growth at La Preciosa, ongoing exploration drilling, mill performance, mine development activities, artificial intelligence initiatives for exploration, and upcoming quarterly financial results.
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Important Disclosures:
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
