Avino Silver & Gold Mines reports 23% second quarter revenue increase
The mining company ended the second quarter with $144.8 million in cash
Avino Silver & Gold Mines Ltd. (ASM), a producer of silver, gold, and copper, reported second quarter revenues of $26.8 million, an increase of 23% from the second quarter of 2025. Mine operating income for the period rose 27% to $13.0 million.
For the six months ended June 30, 2026, revenue from mining operations reached $66.2 million, compared to $40.6 million for the same period in 2025. Mine operating income for the first half of the year rose to $36.4 million from $20.8 million. General and administrative expenses for the six-month period increased to $5.3 million from $4.1 million.
Net income for the second quarter was $10.9 million, or 0.06 a share on a diluted basis. Adjusted earnings for the period were $11.1 million, or 0.14 a diluted share, which represents an increase of 133% from the second quarter of 2025. EBITDA rose 69% from the prior year's second quarter to $12.6 million.
Cash flow from operating activities in the second quarter was $13.3 million, up from $8.4 million in the second quarter of 2025. Mine operating cash flow before taxes increased 28% to $14.4 million.
Unit costs rose during the quarter. Cash costs per AgEq payable ounce sold increased 89% from the second quarter of 2025 to $28.62, which the company attributed primarily to lower silver equivalent ounces sold. All in sustaining costs per AgEq payable ounce sold rose 85% from the second quarter of 2025 to $38.75, also primarily due to lower silver equivalent ounces sold.
As of June 30, 2026, the company held $144.8 million in cash. Total assets were $322.5 million, an increase from $279.0 million at December 31, 2025. The company stated it remains debt-free, with the exception of the deferred royalty repurchase payment and operating equipment leases.
Avino said its working capital position of $140.8 million and its balance sheet will support a growth plan to become a Mexico-focused mid-tier primary silver producer.