Avino Announces Q2 2025 Financial Results
Avino Silver & Gold Mines (NYSE:ASM) ha riportato solidi risultati finanziari per il Q2 2025 con ricavi pari a $21.8 million, in crescita del 47% rispetto all'anno precedente. La società ha realizzato un utile netto di $2.9 million ($0.02 per azione) e ha registrato un flusso di materiale in molino trimestrale record di 190,987 tonnellate.
Tra i principali risultati operativi del Q2 2025 figurano la produzione di 645,602 once equivalenti d'argento (in aumento del 5%), con la produzione d'oro salita del 17% a 1,774 once e la produzione di rame aumentata del 12% a 1.5 million di libbre. I costi in contanti per oncia equivalente d'argento pagabile sono diminuiti del 7% a $15.11, mentre il capitale circolante si è rafforzato a $40.6 million.
Avino Silver & Gold Mines (NYSE:ASM) informó sólidos resultados financieros en el segundo trimestre de 2025 con ingresos de $21.8 million, un aumento del 47% interanual. La compañía obtuvo un ingreso neto de $2.9 million ($0.02 por acción) y registró un rendimiento trimestral de molino récord de 190,987 toneladas.
Entre los aspectos operativos del 2T 2025 se produjeron 645,602 onzas equivalentes de plata (5% más), con la producción de oro aumentando un 17% hasta 1,774 onzas y la de cobre creciendo un 12% hasta 1.5 million de libras. Los costos en efectivo por onza equivalente de plata pagable disminuyeron un 7% hasta $15.11, mientras que el capital de trabajo se fortaleció hasta $40.6 million.
Avino Silver & Gold Mines (NYSE:ASM)는 2025년 2분기 실적에서 매출 $21.8 million을 기록하며 전년 대비 47% 증가한 견조한 성과를 발표했습니다. 회사는 순이익 $2.9 million($0.02/주)을 기록했으며 분기 기준 제련소 처리량은 190,987톤으로 사상 최고치를 달성했습니다.
2025년 2분기 운영 하이라이트로는 645,602 온스 은 환산량을 생산(전년비 5% 증가)했으며 금 생산은 17% 증가한 1,774온��, 구리 생산은 12% 증가한 1.5 million 파운드를 기록했습니다. 지급 가능한 은 환산 온스당 현금 비용은 7% 감소한 $15.11였고, 운전자본은 $40.6 million으로 강화되었습니다.
Avino Silver & Gold Mines (NYSE:ASM) a publié de solides résultats pour le deuxième trimestre 2025, avec un chiffre d'affaires de $21.8 million, en hausse de 47% en glissement annuel. La société a réalisé un bénéfice net de $2.9 million (0,02 $ par action) et un débit record de l'usine trimestriel de 190,987 tonnes.
Parmi les faits marquants opérationnels du T2 2025 figurent la production de 645,602 onces équivalentes argent (en hausse de 5%), la production d'or en hausse de 17% à 1,774 onces et la production de cuivre en hausse de 12% à 1.5 million de livres. Les coûts en espèces par once équivalente d'argent payable ont diminué de 7% à $15.11, tandis que le fonds de roulement s'est renforcé à $40.6 million.
Avino Silver & Gold Mines (NYSE:ASM) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit Umsatzerlösen von $21.8 million, ein Anstieg von 47% gegenüber dem Vorjahr. Das Unternehmen erzielte einen Nettogewinn von $2.9 million (0,02 $ je Aktie) und einen quartalsweisen Rekorddurchsatz der Mühle von 190,987 Tonnen.
Zu den operativen Highlights des Q2 2025 gehören 645,602 Silberäquivalente Unzen produziert (plus 5%), wobei die Goldproduktion um 17% auf 1,774 Unzen stieg und die Kupferproduktion um 12% auf 1.5 million Pfund zunahm. Die Cash-Kosten pro zahlbarer Silberäquivalenzunze sanken um 7% auf $15.11, während sich das Working Capital auf $40.6 million stärkte.
- Revenue increased 47% to $21.8 million year-over-year
- Net income grew 131% to $2.9 million compared to Q2 2024
- Record quarterly mill throughput of 190,987 tonnes, up 36%
- Cash costs reduced 7% to $15.11 per silver equivalent payable ounce
- Working capital strengthened to $40.6 million, up 30% from Q1 2025
- Inclusion in S&P/TSX Global Mining Index and Solactive Global Silver Miners Index
- Silver production decreased 3% to 283,619 ounces year-over-year
- Lower feed grades in all three metals (silver, gold and copper)
- Capital expenditures increased to $6.9 million from $4.4 million in H1 2024
Insights
Strong Q2 results show 47% revenue growth and 118% increase in mine operating income, driven by record mill throughput.
Avino delivered exceptional financial results in Q2 2025, with
The company's cost discipline is particularly impressive. Cash costs per silver equivalent payable ounce decreased to
Balance sheet strength continues to build, with working capital increasing to
Metal production showed mixed results with silver output slightly decreasing by
The inclusion in both the S&P/TSX Global Mining Index and Solactive Global Silver Miners Index represents significant validation of Avino's growing production profile and could drive increased institutional interest and liquidity.
La Preciosa development appears on track with construction of the San Fernando access decline progressing as planned, though no specific timeline was provided for when this project will contribute to production.
Achieves Strong Financial Performance; Continuing To Deliver Shareholder Value
VANCOUVER, BC / ACCESS Newswire / August 13, 2025 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6) a long-standing silver producer in Mexico, announces its unaudited consolidated interim financial results for the second quarter of 2025. All amounts are in U.S. dollars unless stated otherwise.
"We are very pleased to report another quarter of strong financial performance for Avino," said David Wolfin, President and CEO. "The second quarter of 2025 reflects the positive impact of improved mill availability and the operational discipline demonstrated by our team. Revenue and profitability were supported by higher-than-forecasted tonnes milled and continued improvements in plant efficiency. With two strong quarters behind us, we are firmly on track to meet our 2025 financial and operational targets. At La Preciosa, development and blasting activities continue to advance toward the Abundancia vein structure and we are progressing towards the milestone of bringing La Preciosa material into production. With solid financial results from the Avino Mine and continued progress at La Preciosa, we remain on track with our transformational growth strategy."
Second Quarter 2025 Financial Highlights (compared to Q2 2024)
Robust Revenues: Avino realized revenues of
$21.8 million , representing a47% increase from$14.8 million , primarily as a result of increased metal prices and consistent production. At the end of the quarter, there was$5.2 million in concentrate sales receivable converted to cash subsequent to quarter end.Quarterly Profits: Net income after taxes was
$2.9 million , or$0.02 per share, an increase from$1.2 million , or$0.01 per share.Operating Margins Remain Elevated: Gross profit, or mine operating income, was
$10.2 million and represented an increase of118% from$4.8 million . The significant improvement was a result of meaningful unit cost reductions from economies of scale, with36% higher tonnes milled. This is the third consecutive quarter of over$10 million in mine operating income reported.Strong EBITDA and Adjusted Earnings: The Company realized earnings before interest, taxes, depreciation and amortization, or EBITDA, of
$7.4 million , up118% from$3.4 million . Adjusted earnings3 was$8.8 million , or$0.06 per share, an increase of103% from$4.3 million and$0.03 per share.Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold1,2,3 was
$15.11 , and all-in sustaining cash costs per silver equivalent payable ounce sold1,2,3 was$20.93 , a reduction of7% and8% , respectively.Increased Working Capital from Cash Flow: The Company's balance sheet continued to strengthen with working capital1 increasing to
$40.6 million , up$9.2 million , or30% from$31.3 million at the end of Q1 2025, as a result of another quarter of cash generation. Cash provided by operating activities of$8.3 million or$0.06 per share. Prior to working capital movements, cash generated from operating activities was$6.3 million , or$0.04 per share.Index Inclusion in Q2 2025: Early July, Avino was included in the S&P/TSX Global Mining Index having been officially recognized as part of a global benchmark for the mining sector. In addition, as announced on May 1, 2025, Avino received inclusion into the Solactive Global Silver Miners Index, further solidifying Avino as an established silver producer with a growing production profile. Avino expects further index inclusion in the coming months which should provide additional liquidity and opportunities for increasing institutional ownership.
Operational and Financial Highlights
HIGHLIGHTS (In US$, unless otherwise noted) | Second Quarter 2025 | Second Quarter 2024 | Change | YTD 2025 | YTD 2024 | Change | ||||||||||||||||||
Tonnes Milled | 190,987 | 140,934 | 36 | % | 358,840 | 310,529 | 16 | % | ||||||||||||||||
Silver Ounces Produced | 283,619 | 292,946 | -3 | % | 549,300 | 543,589 | 1 | % | ||||||||||||||||
Gold Ounces Produced | 1,774 | 1,514 | 17 | % | 3,999 | 3,292 | 21 | % | ||||||||||||||||
Copper Pounds Produced | 1,461,980 | 1,305,549 | 12 | % | 3,065,323 | 2,652,659 | 16 | % | ||||||||||||||||
Silver Equivalent Ounces1 Produced | 645,602 | 616,571 | 5 | % | 1,324,060 | 1,246,053 | 6 | % | ||||||||||||||||
Concentrate Sales and Cash Costs | ||||||||||||||||||||||||
Silver Equivalent Payable Ounces Sold2 | 676,453 | 537,037 | 26 | % | 1,244,334 | 1,147,914 | 8 | % | ||||||||||||||||
Cash Cost per Silver Equivalent Payable Ounce1,2,3 | $ | 15.11 | $ | 16.29 | -7 | % | $ | 13.97 | $ | 15.55 | -10 | % | ||||||||||||
All-in Sustaining Cash Cost per Silver Equivalent PayableOunce1,2,3 | $ | 20.93 | $ | 22.74 | -8 | % | $ | 20.54 | $ | 21.40 | -4 | % | ||||||||||||
Financial Operating Performance (in 000's) | |||||||||||||||||||||||||
Revenues | $ | 21,805 | $ | 14,787 | 47 | % | $ | 40,641 | $ | 27,180 | 50 | % | |||||||||||||
Mine operating income | $ | 10,224 | $ | 4,697 | 118 | % | $ | 20,786 | $ | 7,036 | 195 | % | |||||||||||||
Net income | $ | 2,864 | $ | 1,240 | 131 | % | $ | 8,481 | $ | 1,839 | 361 | % | |||||||||||||
Earnings before interest, taxes and amortization ("EBITDA")3 | $ | 7,432 | $ | 3,409 | 118 | % | $ | 17,130 | $ | 5,122 | 234 | % | |||||||||||||
Adjusted earnings3 | $ | 8,837 | $ | 4,348 | 103 | % | $ | 18,592 | $ | 6,404 | 190 | % | |||||||||||||
Cash provided by operating activities | $ | 8,350 | $ | 1,078 | 675 | % | $ | 9,108 | $ | 3,425 | 166 | % | |||||||||||||
Mine operating cash flow beforetaxes3 | $ | 11,273 | $ | 5,877 | 92 | % | $ | 22,670 | $ | 9,037 | 151 | % | |||||||||||||
Per Share Amounts | |||||||||||||||||||||||||
Earnings per share | $ | 0.02 | $ | 0.01 | 100 | % | $ | 0.06 | $ | 0.01 | 500 | % | |||||||||||||
Adjusted earnings per share3 | $ | 0.06 | $ | 0.03 | 100 | % | $ | 0.12 | $ | 0.05 | 140 | % | |||||||||||||
Liquidity & Working Capital (in 000's) | |||||||||||||||||||||||||
June 30, 2025 | March 31, 2025 | Change | June 30, 2025 | December 31, 2024 | Change | ||||||||||||||||||||
Cash | $ | 37,279 | $ | 26,627 | 40 | % | $ | 37,279 | $ | 27,317 | 36 | % | |||||||||||||
Working capital3 | $ | 40,615 | $ | 31,339 | 30 | % | $ | 40,616 | $ | 25,235 | 61 | % | |||||||||||||
2nd Quarter Operating Highlights (Compared to Q2 2024)
Silver Equivalent Production Increased
5% : Avino produced 645,602 silver equivalent ounces in Q2 2025, representing a5% increase from Q2 of 2024. This increase was driven by significantly improved mill availability, with our highest quarterly mill throughput in history. This record throughput was partially offset by lower feed grades in all three metals (silver, gold and copper), as we moved through a lower grade section of the mine plan.Record Mill Throughput: In Q2 2025, Avino achieved
36% higher mill throughput versus Q2 2024, totalling a quarterly record of 190,987 tonnes of material. These throughput levels were a result of previous upgrades and automation enhancements made by our operations team, demonstrating significant improvements in mill availability.Gold Production Increased
17% : Q2 2025 production of 1,774 gold ounces represented a17% increase compared to Q2 2024. This improved production resulted from the increased tonnes processed, alongside significant improvements in gold recoveries to74% from70% in Q2 of 2024.Copper Production Increased
12% : Avino produced 1.5 million pounds of copper in Q2 2025, a12% increase compared to Q2 2024.Silver Production decreased
3% : Silver production for Q2 2025 was 283,619 ounces, representing a3% decrease compared to Q2 2024.
La Preciosa Update
Blasting and construction of the relatively short 360 meter San Fernando main access decline is underway, and equipment mobilization has been swift, allowing development to advance on plan. The new jumbo drill is working on this ramp as it progresses toward intercepting the Gloria and Abundancia veins. Site services have been installed and an existing building has been renovated for site personnel. Recent photos showcasing the work at La Preciosa are available on the Avino website - click here to view them.
2025 Capital Expenditures
Capital expenditures for the first half of 2025, including lease and loan payments on equipment, were
ESG Initiatives
Avino follows the ESG Standards and the United Nations Sustainable Development goals. There are 17 Sustainable Development Goals (SDGs), which were developed as a call to action by all countries developed and developing in a global partnership.
Avino has published it's Inaugural Sustainability Report on the website, click here to view. This marks a major milestone in our journey toward greater accountability and responsible growth and it reflects our commitment to transparency, continuous improvement, and long-term value creation for all stakeholders.
Strategic projects in the communities that commenced during the second quarter include: Delivery of low cost water tanks and cisterns, a trench was formed to channel rainwater from the mine, a 5 hectare community reforestation has been approved, a total of 67 families in the communities received solar boilers at reduced cost, made possible through company-led facilitation of a subsidy program, and a donation was made to the Mining and History Museum in the City of Durango.
Mexican nationals account for
The earnings should be read in conjunction with the Company's Financial Statements and Management's Discussion and Analysis ("MD&A") for the corresponding period, which can be viewed on the Company's website at www.avino.com, or on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov.
Qualified Person
Peter Latta, P. Eng, MBA, VP Technical Services, Avino, who is a qualified person within the context of National Instrument 43-101, has reviewed and approved the technical data in this news release.
Non-IFRS Accounting Standards Measures
The financial results in this news release include references to non-IFRS Accounting Standards measures. These measures are used by the Company to manage and evaluate the operating performance of the Company's mining operations and are widely reported in the silver and gold mining industry as benchmarks for performance, but do not have standardized meanings prescribed by IFRS. For a reconciliation of non-GAAP and GAAP measures, please refer to the "Non-IFRS Accounting Standards Measures" section of the Company's MD&A dated August 13, 2025 for the six months ended June 30, 2025, which is incorporated by reference within this news release and available on SEDAR+ at www.sedarplus.ca.
Conference Call and Webcast
The Company's unaudited condensed consolidated interim financial statements for the Second Quarter 2025, will be released after the market closes on Wednesday, August 13, 2025.
A conference call to discuss the Company's Q2 2025 operational and financial results will be held on Thursday, August 14, 2025, at 8:00 a.m. PT / 11:00 a.m. ET. To participate in the conference call or follow the webcast, please see the details below.
Shareholders, analysts, investors, and media are invited to join the webcast and conference call by logging in here Avino's Q2 2025 Financial Results or by dialing the following numbers five to ten minutes prior to the start time.
Toll Free: 888-506-0062
International: +1 973-528-0011
Participant Access Code: 992730
Participants will be greeted by an operator and asked for the access code. If a caller does not have the code, they can reference the company name. Participants will have the opportunity to ask questions during the Q&A portion.
The conference call and webcast will be recorded, and the replay will be available on the Company's website later that day.
About Avino
Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company's silver, gold and copper production remains unhedged. The Company intends to maintain long term sustainable and profitable mining operations to reward shareholders and the community alike through our growth at the historic Avino Property and the strategic acquisition of the adjacent La Preciosa which was finalized in Q1 2022. Early in 2024, the pre-feasibility Study on the Oxide Tailings Project was completed. This study is a key milestone in our growth trajectory. As part of Avino's commitment to adopting sustainable practices, we have been operating a dry-stack tailings facility for more than two years with excellent results. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on X (formerly Twitter) at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.
For Further Information, Please Contact:
Investor Relations
Tel: 604-682-3701
Email: IR@avino.com
This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the mineral resource estimate for the Company's Avino Property, including La Preciosa, located near Durango in west-central Mexico (the "Avino Property") with an effective date of October 16, 2023 and can be viewed within Avino's latest technical report dated February 5, 2024 for the Pre-feasibility Study and references to to Measured, Indicated Resources, and Proven and Probable Mineral Reserves referred to in this press release. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the estimated amount and grade of mineral reserves and mineral resources, including the cut-off grade; (ii) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of operating the mine, of sustaining capital, of strip ratios and the duration of financing payback periods; (iii) the estimated amount of future production, both ore processed and metal recovered and recovery rates; (iv) estimates of operating costs, life of mine costs, net cash flow, net present value (NPV) and economic returns from an operating mine; and (v) the completion of the full Technical Report, including a Preliminary Economic Assessment, and its timing. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.
Cautionary note to U.S. Investors concerning estimates of Mineral Reserves and Mineral Resources
All reserve and resource estimates reported by Avino were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards. The U.S. Securities and Exchange Commission ("SEC") now recognizes estimates of "measured mineral resources," "indicated mineral resources" and "inferred mineral resources" and uses new definitions of "proven mineral reserves" and "probable mineral reserves" that are substantially similar to the corresponding CIM Definition Standards. However, the CIM Definition Standards differ from the requirements applicable to US domestic issuers. US investors are cautioned not to assume that any "measured mineral resources," "indicated mineral resources," or "inferred mineral resources" that the Issuer reports are or will be economically or legally mineable. Further, "inferred mineral resources" are that part of a mineral resource for which quantity and grade are estimated on the basis of limited geologic evidence and sampling. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Footnotes:
In Q2 2025, AgEq was calculated using metal prices of
$33.64 per oz Ag,$3,280 per oz Au and$4.32 per lb Cu. In Q2 2024, AgEq was calculated using metals prices of$28.86 oz Ag,$2,331 oz Au and$4.43 lb Cu. For YTD 2025, AgEq was calculated using metal prices of$32.77 per oz Ag,$3,071 per oz Au and$4.28 per lb Cu. For YTD 2024, AgEq was calculated using metal prices of$26.11 oz Ag,$2,205 oz Au and$4.13 lb Cu. Calculated figures may not add up due to rounding."Silver equivalent payable ounces sold" for the purposes of cash costs and all-in sustaining costs consists of the sum of payable silver ounces, gold ounces and copper tonnes sold, before penalties, treatment charges, and refining charges, multiplied by the ratio of the average spot gold and copper prices to the average spot silver price for the corresponding period.
Non-IFRS Accounting Standard measure. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under IFRS Accounting Standards and the calculation methods may differ from methods used by other companies with similar reported measures. See Non-IFRS Accounting Standards Measures section for further information and detailed reconciliations.
SOURCE: Avino Silver & Gold Mines Ltd.
View the original press release on ACCESS Newswire
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