Core Insights - Avino Silver & Gold Mines Ltd. has been recognized in the 2025 TSX30™ ranking, achieving the 5th position for its outstanding share price appreciation over a three-year period [1][2] - The company's share price performance increased by 610% and market capitalization rose by 778% for the three years ending June 30, 2025, reflecting its strategic growth initiatives [2] Company Overview - Avino operates a silver mine near Durango, Mexico, and produces silver, gold, and copper without hedging its production [3] - The company aims to expand from one to three producing assets by 2029, focusing on sustainable and profitable mining operations [2][3] - Avino has completed a pre-feasibility study on the Oxide Tailings Project, marking a significant milestone in its growth trajectory [3] Industry Context - The TSX30™ program highlights top-performing companies that are strategically positioned and demonstrate proven execution in capital markets [2] - The recognition of Avino reflects broader economic trends where companies are competing globally for market share and capital, emphasizing sustainable value creation [2]

Core Insights - Avino Silver & Gold Mines Ltd. has been recognized in the Toronto Stock Exchange's 2025 TSX30, highlighting its significant performance and growth in the silver production sector [1] Company Summary - Avino Silver & Gold Mines Ltd. is a long-standing silver producer based in Mexico, indicating its established presence in the mining industry [1]

Industry Overview - The Zacks Mining - Silver industry is experiencing promising prospects due to rising silver prices, with global industrial demand projected at approximately 1.15 billion ounces, while supply is expected to be lower, indicating a fifth consecutive year of deficit [1][6] - The industry comprises companies engaged in the exploration, development, and production of silver, with only 20% of silver coming from mining activities where silver is the primary revenue source [3] Demand and Supply Dynamics - Total silver demand is expected to dip 1% to 1.148 billion ounces in 2025, with industrial use dominating at around 677.4 million ounces, accounting for 59% of total demand [4] - Silver prices have increased by approximately 22% in 2024 and 41% in the current year, supported by economic uncertainties and solid demand amid tight supply [5] - Global silver supply is projected to rise 2% in 2025 to 1.031 billion ounces, but demand will exceed this, leading to a deficit of 117.6 million ounces [6] Cost Management and Operational Efficiency - Industry players are facing rising production costs, with around 50% of production costs linked to energy prices, prompting companies to focus on improving sales volumes and cost-effectiveness [7] - Companies are investing in R&D and technological innovations to enhance operational efficiency and sustain growth [7] Stock Performance and Valuation - The Zacks Mining - Silver industry ranks 31, placing it in the top 13% of 245 Zacks industries, indicating bright prospects in the near term [8][9] - The industry has outperformed the Basic Materials sector and the Zacks S&P 500 composite over the past year, with a collective gain of 64% compared to the sector's 7.1% rise [10] Company Highlights - **Fresnillo (FNLPF)**: Silver production decreased by 11.7% year-over-year to 24.9 million ounces in the first half of 2025, but gold production increased by 15.9%. The company expects total silver equivalent production of 91-102 million ounces in 2025 [17][18] - **Avino Silver & Gold Mines Ltd. (ASM)**: The company regained full ownership of its La Preciosa project, with production of 1.32 million silver equivalent ounces in the first half of 2025, up 6% year-over-year [22][23] - **Hecla Mining (HL)**: Reported record revenues of $304 million and adjusted EBITDA of $132.5 million in Q2 2025, with silver production of 4.5 million ounces, an increase of 10% compared to the prior quarter [26][27]

Core Points - ASM International N.V. will host its Investor Day on September 23, 2025, in London, UK, focusing on the company's performance and strategic direction [1] - The event will highlight the Growth through Innovation strategy and its value for stakeholders, with presentations from senior management including the CEO and CFO [1] - The formal program will run from 1:30 p.m. BST to approximately 5:00 p.m. BST, with a detailed agenda to be shared closer to the event [1] Event Details - The Investor Day will take place at the Pan Pacific hotel in London, and registration is required due to capacity limitations [2] - Institutional investors and analysts interested in attending in person can contact ASM for registration [2] - Presentations and Q&A will be available through a live listen-only webcast [2] Company Overview - ASM International N.V. is headquartered in Almere, the Netherlands, and designs and manufactures equipment for semiconductor device production [3] - The company has facilities in the United States, Europe, and Asia, and its common stock trades on the Euronext Amsterdam Stock Exchange under the symbol ASM [3]

Group 1 - Avino Silver & Gold Mines Ltd. (ASM) acquired full ownership of its La Preciosa project from Deterra Royalties Limited, leading to a 4% increase in shares [1] - The acquisition eliminates royalty obligations and allows for full control of La Preciosa, which is one of Mexico's largest undeveloped silver resources [2][8] - The deal includes an upfront payment of $13.25 million and a deferred payment of $8.75 million, with the company utilizing existing cash for the upfront payment [3][8] Group 2 - The acquisition is expected to lower La Preciosa's operating cost profile, enhancing the company's financial position, which is currently strong due to favorable metal prices [4] - In Q2 2025, Avino Silver reported earnings per share of 6 cents, surpassing the Zacks Consensus Estimate of 2 cents, and showing improvement from 3 cents in Q2 2024 [5] - Revenues for Q2 increased by 47% year over year to $22 million, driven by higher sales and metal prices, exceeding the Zacks Consensus Estimate of $18 million [6][8] Group 3 - The company has seen a significant stock price increase of 303.9% over the past year, compared to the industry's growth of 40.8% [7]

Core Insights - Avino Silver & Gold Mines Ltd. reported earnings per share of 6 cents for Q2 2025, exceeding the Zacks Consensus Estimate of 2 cents, and showing an improvement from 3 cents in Q2 2024 [1][8] - The company's revenues surged 47% year over year to $22 million, driven by higher sales and metal prices, surpassing the Zacks Consensus Estimate of $18 million [2][8] - Mine-operating profit reached $10 million, marking a 118% increase from $4.7 million in the previous year, and this is the third consecutive quarter with profits exceeding $10 million [4][8] Financial Performance - EBITDA for Q2 2025 was $7.4 million, up 118% from $3.4 million in the year-ago quarter [4] - Cash costs per silver equivalent payable ounce decreased by 7% to $15.11 from $16.29 in the prior year [3] - Consolidated all-in sustaining costs were $20.93 per silver equivalent payable ounce, down from $22.74 in Q2 2024 [3] Production Metrics - Silver-equivalent production was 645,602 ounces, a 5% increase from Q2 2024, attributed to record quarterly mill throughput [5] - Payable silver equivalent sold rose 26% year over year to 676,453 ounces [2] - Silver production decreased by 3% to 283,619 ounces, while gold production increased by 17% to 1,774 ounces, and copper production rose by 12% to 1.46 million pounds [5] Cash Position - The company ended Q2 2025 with $37 million in cash, an increase from $27 million at the end of 2024 [6] - Cash provided by operating activities was $8.3 million, compared to $1.1 million in the year-ago quarter [6] Stock Performance - Avino Silver's shares have increased by 276.5% over the past year, significantly outperforming the industry growth of 36.4% [7]

Core Viewpoint - Avino Silver & Gold Mines Ltd. is conducting its Q2 2025 earnings conference call, highlighting its financial results and operational updates for the quarter [1][2]. Group 1: Company Overview - The conference call features key company executives including President and CEO David Wolfin, CFO Nathan Harte, COO Carlos Rodriguez, and VP of Technical Services Peter Latta [4]. - The call is being recorded and is available for participants in listen-only mode [2]. Group 2: Financial Results - The financial results for Q2 2025 will be discussed, with a focus on the company's performance metrics and operational achievements during the quarter [3].

Industry Overview - The Zacks Mining - Silver industry is experiencing promising prospects due to rising silver prices, with global industrial demand projected at approximately 1.15 billion ounces, while supply is expected to be lower, indicating a fifth consecutive year of deficit [1][4] - The industry comprises companies engaged in the exploration, development, and production of silver, with only 20% of silver coming from mining activities where silver is the primary revenue source [3] Demand and Supply Dynamics - Total silver demand is expected to dip by 1% to 1.148 billion ounces in 2025, with industrial use projected at around 677.4 million ounces, accounting for roughly 59% of total demand, driven by the solar energy industry and rising usage in electrical applications [4][5] - Silver prices increased by approximately 22% in 2024 and 33.7% in 2025, supported by economic uncertainties and solid demand amid tight supply [5] Cost Management and Operational Efficiency - Industry players are facing rising production costs, particularly in energy, wages, and materials, leading to a focus on improving sales volumes and cost-effectiveness through technological innovations [6] - Companies are investing in R&D to enhance operational efficiency and sustain growth while managing costs [6] Stock Performance and Valuation - The Mining-Silver Industry has outperformed the Basic Material sector and the Zacks S&P 500 composite over the past year, with a collective gain of 42% compared to the sector's 2.4% rise [10] - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 11.79X, lower than the S&P 500's 17.66X and the Basic Material sector's 12.73X [12] Company Highlights - **Pan American Silver (PAAS)**: Reported record cash flow of $233 million and a 291% year-over-year increase in earnings per share, with a projected output of 20-21 million ounces of silver in 2025 [16][17] - **Vizsla Silver (VZLA)**: Advancing its flagship Panuco silver-gold project, targeting first production in the second half of 2027, with a recent 43% increase in estimated mineral resources [22][23] - **Avino Silver Mines (ASM)**: Produced 645,602 silver equivalent ounces in Q2 2025, up 5% year-over-year, and remains on track to achieve a production range of 2.5 - 2.8 million silver equivalent ounces in 2025 [25][26] - **Hecla Mining (HL)**: Reported record revenues of $304 million and a 10% increase in silver production, with a projected silver equivalent output of 35.5 - 39.0 million ounces for 2025 [29][30]

Financial Data and Key Metrics Changes - Avino reported revenues of $21.8 million for Q2 2025, a 47% increase from Q2 2024, marking the second highest revenue in company history [13] - Gross profit was $10.2 million, with gross profit margins improving to 45% from 32% in Q2 2024 [13][14] - Net income for the quarter was $2.9 million, translating to earnings per share of $0.02, up from $1.2 million or $0.01 per share in Q2 2024 [14] - Cash flow from operating activities improved to $8.5 million, with free cash flow at $4.4 million [14][16] - Cash cost per silver equivalent ounce was $15.11, down 7% from Q2 2024, while all-in sustaining cash cost was just under $21 per ounce, an 8% decrease [15][18] Business Line Data and Key Metrics Changes - Silver equivalent production increased by 5% to almost 646,000 ounces in Q2 2025, driven by improved mill availability [9] - Gold production rose by 17% due to increased tons processed and improved recoveries [10] - Copper production increased by 12%, reaching 1.5 million pounds [10] - Silver production slightly decreased by 3% to just under 284,000 ounces [10] Market Data and Key Metrics Changes - The company maintained strong production momentum through the first half of the year, with record mill throughput of 190,987 tons processed, a 36% increase from Q2 2024 [10][11] - The cash position at the end of the quarter was $37.3 million, up over $10 million from the previous quarter [15] Company Strategy and Development Direction - Avino is focused on sustaining momentum and reaching new milestones, with a strong balance sheet and ongoing development of La Preciosa [7][8] - The company aims for annual production guidance of 2.5 to 2.8 million ounces of silver equivalent for 2025 [13] - The strategic focus remains on organic growth with three key assets, while remaining disciplined regarding M&A opportunities [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategic direction and ability to capitalize on positive market trends in the precious metals sector [71] - The operational team is expected to continue driving cost improvements while advancing La Preciosa development [8][12] Other Important Information - The company has initiated several CSR and ESG initiatives, including community reforestation and the delivery of low-cost water tanks [21][22] - Avino published its inaugural sustainability report, reflecting its commitment to transparency and responsible growth [23] Q&A Session Summary Question: Progress on La Preciosa access decline - Management confirmed that they have intercepted the Abundancia vein and are a few weeks away from intercepting the Gloria vein [31] Question: Mill throughput expectations for 2026 - The company is currently focused on development ore and is not providing specific throughput targets for this year, but aims for 400 to 500 tons per day by late next year [32] Question: M&A considerations in the current market - Management stated they are focused on organic growth and capital discipline, with no immediate plans for external growth opportunities [33] Question: Third quarter mill availability trends - Management indicated that while they are in a lower grade area, higher grades are expected later in the quarter [38] Question: Clarification on site services at La Preciosa - Site services include installations like compressed air and ventilation systems, as well as facilities for personnel [42] Question: Targeted cash balance for future expansions - Management is evaluating capital needs for future expansions but does not have a specific cash balance target at this time [48] Question: Changes in revenue impacting factors - Management noted improvements in terms with partners and inventory management, which may affect revenue fluctuations [54]

Financial Performance - Revenues increased by 47% from $14.8 million in Q2 2024 to $21.8 million in Q2 2025[37] - Gross profit/mine operating earnings increased by 118% from $4.7 million in Q2 2024 to $10.2 million in Q2 2025[37] - Net income increased by 131% from $1.2 million in Q2 2024 to $2.9 million in Q2 2025[37] - Cash flow from operations increased significantly by 690% from $1.1 million in Q2 2024 to $8.5 million in Q2 2025[37] - Free cash flow improved from negative $0.2 million in Q2 2024 to $4.4 million in Q2 2025[37] Production Results - Silver equivalent production increased by 5% from 616,571 ounces in Q2 2024 to 645,602 ounces in Q2 2025[22] - Silver production increased by 3% from 283,619 ounces in Q2 2024 to 292,946 ounces in Q2 2025[22] - Gold production decreased by 17% from 1,774 ounces in Q2 2024 to 1,514 ounces in Q2 2025[22] - Copper production increased by 12% from 1,305,549 pounds in Q2 2024 to 1,461,980 pounds in Q2 2025[22] Cost Metrics - Cash costs per silver equivalent ounce decreased by 7% from $16.29 in Q2 2024 to $15.11 in Q2 2025[42] - All-in sustaining cash costs per silver equivalent ounce decreased by 8% from $22.74 in Q2 2024 to $20.93 in Q2 2025[42]