Avino Silver & Gold Mines Ltd. (TSX:ASM, NYSE:ASM) reports record Q3 2025 net income of $7.7M ($0.05 EPS diluted), up 559%; cash $57.3M; working capital $50.8M. YTD net income $16.2M ($0.10 EPS).
Mammoth Resources Corp. (TSX-V: MTH) appointed three new directors: Jose Antonio Berlanga Balderas (Audit Committee), José Antonio Berlanga Lopez (Audit), and Edgardo Espinosa Velasco (Compensation/Governance). Paul Rozek named new CFO. Issued 4,775,500 stock options at $0.05. Advancing Tenoriba gold-silver project and seeking Mexican production opportunities.
McEwen Mining’s Q3 2025: Produced 29,662 GEOs, $50.5M revenue, $0.5M net loss, $11.8M adjusted EBITDA. Plans to double output to 250-300k GEOs by 2030 via Fox Complex, Gold Bar, El Gallo. Revised 2025 guidance lower due to operational issues; advancing acquisitions and Los Azules copper.
Oroco Resource Corp. closed an initial tranche of its non-brokered private placement, raising US$1.53M via 7.65M units at $0.20 each (one share + half warrant at $0.30 for 24 months). New director Faysal Rodriguez subscribed for 5M units. Proceeds advance Santo Tomas Project toward Pre-Feasibility Study.
Heliostar Metals’ PEA for Ana Paula underground mine projects 875koz gold over 9 years at 101koz/yr avg, with AISC $1,011/oz and $300M capex. Base case ($2,400/oz gold): $426M post-tax NPV5, 28.1% IRR, 2.9yr payback. Upside ($3,800/oz): $1,012M NPV5, 51.3% IRR, 1.9yr payback. Targets 2028 production.
Fortuna Mining (NYSE: FSM) Q3 2025: Attributable net income $124M ($0.40/sh), adjusted $51M ($0.17/sh). GEO production 72k oz; cash cost $942/GEO, AISC $1,987/GEO. Free cash flow $73M; net cash $266M, liquidity $588M. On track for annual guidance; Diamba Sud PEA shows strong economics.
First Majestic Silver Corp. sold 17.5M shares of Sierra Madre Gold and Silver Ltd. at CAD$1.33 each for CAD$23.275M proceeds. Ownership reduced from 37.13% (69.06M shares) to 27.72% (51.56M shares). Held for investment; no current intent to adjust holdings further.
Equinox Gold’s Q3 2025 results show record production of 236,382 oz gold at AISC $1,833/oz, with strong ramp-ups at Greenstone (mining >185k tpd, grades 1.05 g/t) and Valentine (91% capacity in Oct). Reduced debt by $139M, added $88M from Nevada sale. On track for 2025 guidance midpoint, poised for growth into 2026.
Torex Gold (TSX: TXG) announces initial capital return: quarterly dividend C$0.15/share (payable Dec 4 to holders on Nov 20) and share repurchases via NCIB. Repurchased C$10M shares in Q3 2025. Program to evolve in 2026; implies 1.10% annualized yield at current price.
First Majestic Silver Corp. reported that Mexico’s Supreme Court granted the Finance Ministry’s appeal, blocking review of subsidiary PEM’s 2012 tax reassessment challenge. The company awaits the written decision to assess next steps under domestic and international law. NAFTA arbitration and domestic APA nullification challenges continue.
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