Avino restarts Durango mine, shares up

Avino Silver & Gold (TSX: ASM, NYSE: ASM) announced on Monday it is starting a phased ramp-up of operational activities at its Avino mine near Durango, Mexico. 

On May 15, the Mexican federal government authorized the resumption of mining activities as of June 1 for municipalities that present low or no known cases of covid-19.

“I am very appreciative of the way our team in Mexico handled the difficult challenges faced during the last few months due to the global pandemic,” said CEO David Wolfin in a media release.

It is expected that the ramp-up to production at levels seen prior to March 31 could take approximately two weeks as the company implements the back to work guidelines, it said.

The Avino mine produced a record 262,238 silver ounces in Q1, the highest quarterly total achieved to date.

Midday Monday, Avino’s stock was up 12.5% on the TSE. The company has a C$83.4 million market capitalization.