Avino Secures Full Ownership of La Preciosa, Reduces Costs

Avino Silver & Gold Mines Ltd. has announced the acquisition of complete ownership of its La Preciosa project in Mexico. By purchasing and extinguishing all royalties and contingent payment obligations held by Deterra Royalties Limited, Avino aims to enhance the project's economic profile and reduce operating costs. The transaction involves a $13.25 million upfront payment with an additional $8.75 million to be paid after one year.

This strategic move allows Avino to optimize its financial structure and reduce administrative burdens. President and CEO David Wolfin emphasized the investment opportunity to generate returns by eliminating royalty burdens before production starts. Avino’s strong financial standing, supported by favorable metal prices, facilitated this acquisition, promising potential shareholder value increases.