Source: Chris Temple
November 9, 2023 (Investorideas.com Newswire) Chris Temple of The National Investor shares why he believes this Canadian gold company's stock remains a Buy.
Avino Silver & Gold Mines Ltd. (ASM:TSX.V; ASM:NYSE.MKT; GV6:FSE) REMAINS a BUY.
A few asked me about the OCT 27 NEWS that Coeur Mining Inc. (CDE:NYSE) is looking to sell the 14 million shares of Avino it presently owns.
I, in turn, asked C.E.O. David Wolfin when I saw him late last week amid a broader update on the company.
In short, according to Wolfin, Coeur has had to sink a lot of money into its Rochester (Nevada) expansion and elsewhere and is simply raising cash as it can.
Crazy, but no crazier than when it paid well over $300 million back for Penasquito before it sold that project to Avino for pennies on the dollar later.
Avino has continued to do well in a punk market operationally, even as this Coeur sale news made a bad situation worse (ASM shares have been heavily shorted during this time for weak PM stocks' prices, too.)
But this is especially an instance where a broken share price does not properly reflect a company that not only is NOT broken but has scored some great exploration news in 2023, among other things.
You would do well to be buying/buying more at these levels and wait to be properly rewarded as the company's own good performance is augmented down the road by better metals prices/sentiment.
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