Sunday, October 24, 2010

Silver in Mexico: Sprott Asset Management takes position in Avino Silver ASM.v,, MGN, KTN.v, TNR.v,, KS.v, CUU.v, SLV, SLW, SSRI


   Finally, we have a positive surprise with Avino Silver - Sprott Asset Management takes position in the company. To pass Sprott's DD means a lot in the Silver market. Erick Sprott is personally very bullish on silver and silver junior miners, you can find his interview with Jim Puplava on his website. Looks like Avino Silver finally has found its footing in this market and gets vote of confidence from Silver market insiders.

"The best store of value is Gold and Silver - the best safe is the mother earth: question is how much do they have exactly and whether management finally has waken up with these silver prices. We have history on our side here: replacement value of the recently modified Mill is more than the market cap of all this junior Silver mining company."

2010-10-21 17:11 ET - News Release

Mr. David Wolfin reports


Avino Silver & Gold Mines has arranged a non-brokered private placement of up to 2.4 million units at a price of $1.25 per unit, each unit consisting of one common share and one non-transferrable share purchase warrant. Each warrant will entitle the investor to purchase one additional common share with a term of three years at an exercise price of $1.52. Sprott Asset Management LP on behalf of certain funds and managed accounts has agreed to participate in this private placement.

No commissions or fees are payable in connection with this financing. The net proceeds of this offering will be used to advance the company's San Gonzalo silver, gold, lead and zinc project at Durango, Mexico, and general working capital requirements.

The financing is subject to approval of the TSX Venture Exchange and all regulatory authorities. The securities issued by the company in connection with this financing are subject to a four-month hold period as prescribed by the TSX Venture Exchange."

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