Past year: ▲ 17%(6.53 – 13.12 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Dec 2014business combination● NeutralMajor
The Bralorne acquisition completed on 20 October 2014 by court-approved plan of arrangement, with each Bralorne share Avino did not already own exchanged for 0.14 of an Avino share. Avino now owns the Bralorne gold mine at Gold Bridge, British Columbia outright, alongside its Mexican operations.
2 Sept 2014business combination● Neutral
An amending agreement of 25 August 2014 changing the structure of the Bralorne arrangement after further discussion between the parties. The document states only that structural amendments were made; the consideration ratio it produces is set out in the December business acquisition report.
6 Aug 2014business combination● NeutralMajor
The arrangement agreement of 31 July 2014 under which Bralorne would be taken over entirely, following the 34% stake bought privately three weeks earlier. Both companies are British Columbia issuers on the TSX Venture Exchange.
9 July 2014business combination● NeutralMajor
Bought 9,500,000 Bralorne Gold Mines shares privately at C$0.28, or C$2.66 million, taking Avino to 9,679,149 shares and about 34% of the company - a controlling stake in a British Columbia gold project, and the first move outside Mexico.
9 July 2014business combination● Neutral
The same 9 July 2014 announcement of the 34% Bralorne stake, filed a second time under a separate accession number. No new content.
7 July 2014capital raising announcement● NeutralMajor
Replaced the exhausted facility with a much larger one: up to US$25 million of shares saleable through Cantor Fitzgerald on the NYSE MKT, with the stated uses now including acquiring and developing the Bralorne mine. The financing is being put in place for a deal not yet completed.
27 Feb 2014capital raising announcement● NeutralMajor
Raised a further US$5.0 million a week later through Noble Financial, placing 2,066,117 units at US$2.42 with institutions - each unit a share plus half a warrant exercisable at US$2.87 to February 2017. Two raises inside a fortnight, the second at a higher price than the market sales that preceded it.
What it means for a shareholder
2.1m new shares at US$2.42 to raise about US$5.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
20 Feb 2014capital raising announcement● Neutral
Used the facility in full within seven weeks, selling 2,540,709 shares for US$5,741,668 gross, or about US$2.26 a share.
2 Jan 2014capital raising announcement● Neutral
Filed a prospectus supplement allowing up to US$5.75 million of shares to be sold into the market through Cantor Fitzgerald, for developing the Avino mine and working capital. Nothing is raised on filing; it is standing permission to sell stock as needed.
10 Dec 2013production update▲ Good
November was San Gonzalo's strongest month of the year on grade: 6,602 tonnes at 290 g/t silver and 1.54 g/t gold, with 85% silver and 76% gold recovery, giving 52,284 ounces of silver and 249 of gold. Eleven months of production totalled 72,131 tonnes at an average 288 g/t silver.
12 Nov 2013production update● Neutral
October produced 79,521 silver-equivalent ounces, San Gonzalo grade slipping to 264 g/t silver while the stockpile circuit improved to 96 g/t silver and 1.20 g/t gold - the low-grade circuit's best month, up 16%. Year-to-date output stands at 724,228 silver-equivalent ounces.
15 Oct 2013production update● Neutral
Third quarter San Gonzalo output was steady but flat: September milled 6,301 tonnes at 277 g/t silver and 1.27 g/t gold, and nine-month feed grade had drifted down to 290 g/t silver from 315 g/t in January. Recoveries held at 83% silver and 73% gold.
9 Sept 2013production update▲ Good
August produced 80,224 silver-equivalent ounces, up 3.4% on July, with San Gonzalo at 6,678 tonnes and 283 g/t silver and 85% silver recovery. Stockpile output fell 21% as that circuit ran 28 days at a lower 78 g/t.
8 Aug 2013production update● Neutral
July produced 77,568 silver-equivalent ounces from 12,294 tonnes, San Gonzalo running 6,372 tonnes at 285 g/t silver and the stockpiles 5,922 tonnes at 89 g/t. The equivalence ratio moved again, from 55:1 to 65:1, as the silver price fell relative to gold - so a rising silver-equivalent total partly reflects a weaker silver price.
26 July 2013resource reserve update● Neutral
The Tetra Tech technical report itself, effective 19 July 2013, signed by seven qualified persons and covering the Avino vein, San Gonzalo vein and the oxide and sulphide tailings.
24 July 2013resource reserve update● Neutral
Filed the supporting technical report on SEDAR, effective 19 July 2013, covering San Gonzalo, the Avino mine system and the tailings. It completes the disclosure the June announcement started.
16 July 2013production update▲ Good
June milled 6,580 tonnes at San Gonzalo at 285 g/t silver and 1.17 g/t gold, with silver recovery up to 86%. First-half San Gonzalo output was 39,710 tonnes at an average 294 g/t silver and 1.25 g/t gold - six months of remarkably steady 220-230 tonne-a-day operation.
10 June 2013resource reserve update▲ GoodMajor
First compliant resource for the whole property since the regulator forced the 2012 retraction: measured and indicated of 4,547,791 tonnes containing 27.5 million silver-equivalent ounces, of which San Gonzalo holds 222,407 indicated tonnes at 286 g/t silver and 2.13 g/t gold, plus inferred of 3,220,896 tonnes in the Avino system at 68.3 g/t silver, 0.73 g/t gold and 0.55% copper and 1,085,276 tonnes at San Gonzalo. Prepared by Robert Morrison of Tetra Tech; the oxide tailings figures carry forward from the July 2012 report.
6 June 2013production update▲ Good
May produced 75,022 silver-equivalent ounces from 12,865 tonnes across both circuits - San Gonzalo 6,948 tonnes at 279 g/t silver, stockpiles 5,917 tonnes at 84 g/t. The stockpile circuit ran a full 30 days for the first time.
13 May 2013production update▲ GoodMajor
Restarted the second mill circuit on historic surface stockpiles alongside San Gonzalo: April produced 66,719 silver-equivalent ounces in total, 57,235 from San Gonzalo (6,460 tonnes at 274 g/t silver) and 9,484 from 4,040 tonnes of stockpile material at just 73 g/t. The low-grade circuit adds volume cheaply but dilutes the average.
5 Apr 2013production update▲ GoodMajor
First quarter 2013 milled 19,723 tonnes at 309 g/t silver and 1.29 g/t gold for 191,107 silver-equivalent ounces, against 19,539 tonnes at 259 g/t and 151,372 ounces in the fourth quarter. Throughput barely moved; the 26% production gain came from grade, plus a change in the equivalence ratio from 50:1 to 55:1.
14 Mar 2013production update● Neutral
February milled 6,418 tonnes at 306 g/t silver and 1.19 g/t gold for 59,228 silver-equivalent ounces, slightly below January on softer grade and gold recovery of 66%. Mill availability improved to 99%.
12 Feb 2013production update▲ Good
January milled 6,392 tonnes at 315 g/t silver and 1.275 g/t gold - the highest head grade since start-up - producing 52,779 ounces of silver and 184 of gold, 62,781 silver-equivalent ounces. Recoveries were 81% silver and 70% gold. The company also moved its silver-to-gold equivalence ratio from 50:1 to 55:1 to reflect current prices, which flatters the equivalent-ounce comparison.
29 Jan 2013drilling result▲ Good
The San Gonzalo decline has advanced about 320 metres with 47 metres left to level 5, and Avino has taken delivery of a scoop tram, jumbo and loader bought under a new Caterpillar credit facility arranged in December 2012 - equipment finance rather than equity to speed the ramp.
7 Jan 2013production update▲ Good
December milled 6,364 tonnes at 287 g/t silver and 1.19 g/t gold over 27 operating days, at 235 tonnes a day. Grade has risen every month since start-up, giving 19,538 tonnes at an average 258 g/t silver and 1.04 g/t gold for the quarter.
5 Dec 2012production update▲ Good
November milled 6,528 tonnes at 256 g/t silver and 0.99 g/t gold, at 218 tonnes a day - throughput flat on October but head grade up from 233 g/t silver.
7 Nov 2012production update▲ GoodMajor
First full month of San Gonzalo production: the mill averaged 220 tonnes a day in October and produced roughly as much silver-equivalent in that one month as in the whole of the third quarter running old stockpiles. Grade, not tonnage, is what changed.
1 Nov 2012drilling result▲ Good
Underground sampling at San Gonzalo returned 14,768 g/t silver over 0.4 metres from the level 4 drift, where mining has reached the bottom of workings abandoned during the revolution in the early twentieth century. The decline to level 5 has advanced 170 metres with 200 metres to go.
24 Oct 2012production update▲ GoodMajor
The turning point from explorer to producer: on 1 October Avino began milling high-grade San Gonzalo ore through a 250 tonne-a-day circuit at its own plant, five years after exploration there started. Until then the mill had been running old surface stockpiles from the main Avino mine.
31 Aug 2012resource reserve update● Neutral
Announced the contents of the Tetra Tech property report filed the previous month: a resource and economic study on the oxide tailings, with the sulphide tailings, San Gonzalo and Elena Tolosa identified as further targets. This is the report that replaced the disclosure the regulator made Avino retract.
