| Long-Term Price Case | $1,700/oz. Au | $24/oz. Ag | $2.72/lb. Cu |
| Project | Avino Mine |
| Mineral Resources | 50,525,000 AgEq ozs. |
| Shares Outstanding | 65,420,000 |
| Market Cap | $36,635,200 |
| Average Annual Production | 2,731,357 AgEq ozs. |
| Recovery | 86% (Ag); 67% (Au); 91% (Cu) |
| LoM | 15 Years |
| Payable Product | 40,970,350 AgEq ozs. |
| True All-in Cost (TAIC) | $12.06/oz. |
| Gross Revenue | $983,288,400 |
| Transportation, Refining & Insurance Costs | ($15,623,865) |
| Gross Income | $967,664,535 |
| Total Operating Cost | ($94,068,000) |
| Operating Profit | $873,596,535 |
| Income Taxes | ($327,598,700) |
| Total Capital Costs | ($56,920,000) |
| Net Income | $489,077,835 |
| Net Profit Margin | 50% |
| Absolute Cost Structure (ACS) | 50% |
| True Value | $7.48/sh. |
| Cash Flow Multiple | 10x |
| Annual Cash Flow | $32,612,403 |
| Future Market Cap | $326,124,030 |
| Future Market Cap Growth | 790% |
| Target | $4.99/sh. |
Note: All Values in U.S. Dollars
Investment Case
- Measured & Indicated Resources have grown by 100% over the last 3 years.
- Mine Life has effectively doubled.
- Net Profit Margin and Absolute Cost Structure (ACS) are excellent at $24/oz. Ag.
