Fundament Research Features Avino Silver & Gold Mines

Fundamental Research featured Avino Silver & Gold Mines Ltd. (TSXV:ASM,NYSE:ASM,FWB:GV6), focusing on its news resource estimate for the San Gonzalo mine, as well as re-starting of production from the historical Avino mine.

As quoted in the article:

We believe that this resource estimate is positive for ASM as it has drastically increased the San Gonzalo resource and added the Avino resource to the total property resource estimate. ASM had a previous resource estimate for the San Gonzalo area released in 2009; however, development activities since then have removed a significant portion of this material. In 2012, the 2009 resource estimate was retracted by ASM due to the removal of resources from the ground. We are pleased to see the company produce an updated resource estimate for the San Gonzalo mine.

Based on our revised valuation models, and review of the company since our previous report, we have maintained our BUY rating and adjusted our fair value estimate from $4.67 to $3.01 per share.

To read the full report, click here to the Fundamental Research Site

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