Avino Silver & Gold Mines (TSX:ASM) recently issued 2026 guidance, focusing on development and optimization at La Preciosa, which will temporarily decrease silver production but aims for future growth. This strategy involves higher all-in sustaining costs and is supported by a US$250 million shelf registration for potential future financing. The article questions whether these strategic shifts imply a deeper balance sheet risk or a justified investment for long-term growth, noting a fair value estimate 26% below the current price.
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Is Avino (TSX:ASM) Trading Near Cash Value or Signaling Deeper Balance Sheet Risk?
Avino Silver & Gold Mines (TSX:ASM) recently issued 2026 guidance, focusing on development and optimization at La Preciosa, which will temporarily decrease silver production but aims for future growth. This strategy involves higher all-in sustaining costs and is supported by a US$250 million shelf registration for potential future financing. The article questions whether these strategic shifts imply a deeper balance sheet risk or a justified investment for long-term growth, noting a fair value estimate 26% below the current price.