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Avino Silver & Gold Mines Ltd. reports developments tied to its silver, gold and copper mining business in Mexico. Company news centers on production from the Avino Mine, development and processing activity at La Preciosa, drilling at its mineral properties, and updates to mineral resources and reserves, including the Oxide Tailings Deposit.
Recurring announcements also cover audited and interim financial results, operating outlook, mill throughput, metal sales mix, and capital-allocation actions such as a normal course issuer bid. Coverage reflects Avino's role as a Canadian-listed precious-metals producer with common shares traded on the TSX, NYSE American and European exchanges.
Avino Silver & Gold Mines Ltd. (TSX: ASM) has announced the resumption of mining operations at its Avino Mine in Durango, Mexico, following a closure period. The company has made several upgrades to improve mill recoveries and plans to ramp up throughput quickly. With higher metal prices, Avino anticipates generating positive cash flow. The restart is significant for local employment and community support. The company is also conducting infill-drilling and continuing its exploration program.
Avino Silver & Gold Mines Ltd. (TSX: ASM) has announced initial drill results from its 2021 exploration campaign, highlighting significant mineralization across multiple veins, including El Trompo, Santiago, and La Malinche. The drill program has covered 1,569 meters at El Trompo, showing promising grades, particularly in silver and gold. Geologically favorable conditions near existing infrastructure enhance the potential for further development. The company plans to integrate these data into its geological models to explore economic deposits and increase resources at the Avino mine.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced the successful outcomes of its Annual General & Special Meeting held on May 27, 2021. A total of 28,050,671 common shares, representing approximately 28.11% of issued shares, were voted. Resolutions included setting the number of directors at five, with all nominated directors receiving substantial votes for their election. Additionally, the appointment of Manning Elliott LLP as auditors and the approval of unallocated entitlements under the 2018 Rolling Stock Option and Restricted Share Unit Plans were passed, showing strong shareholder support.
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Avino Silver & Gold Mines reported its Q1 2021 financial results, highlighting zero production due to a work stoppage, resulting in revenues of just $29, down 100% from $7,116 in Q1 2020. The company experienced a net loss of $1.8 million, or $0.02 per share, a significant increase from $232,000 in the previous year. However, they managed to reduce debt by $0.8 million and increase working capital to a record $31 million, attributed to strong metal prices. The company has plans for an expanded drill program and initiatives to restart production and support local communities.
Avino Silver & Gold Mines Ltd. (TSX: ASM) announced it will release its First Quarter 2021 financial results on May 12, 2021, after market close. A conference call and webcast will follow on May 13, 2021, at 9:00 a.m. PST. Participants can join the call without a passcode, with the opportunity to ask questions during the Q&A session. Avino operates primarily in silver production, with a strategy focused on organic growth and strategic acquisitions in Mexico.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE American: ASM) has announced a significant increase in its drilling program for 2021, escalating from 12,000 to 30,600 metres. This fully funded initiative aims to enhance shareholder value and includes additional phases and drilling on the Oxide Tailings resource. The budget for capital expenditures has also risen, expected to be between $9 and $11 million, up from $6 to $8 million. The company emphasizes adherence to COVID-19 safety protocols to protect its workforce and the surrounding community.
Avino Silver & Gold Mines Ltd. (ASM) reported its consolidated financial results for Q4 and the year ending 2020. The company faced challenges due to the pandemic, leading to operational suspensions and a strike. Financial highlights include Q4 revenues of $1.4 million, an 87% decrease from the previous year, and a net loss of $1.6 million, $0.02 per share. Total revenues for 2020 were $16.0 million, a 50% decline year-over-year. The company reduced debt by $7.1 million and is focused on ramping up operations in 2021, having reported an increase in measured and indicated mineral resources.
Avino Silver & Gold Mines Ltd. (TSX: ASM) will announce its Fourth Quarter and Year End 2020 financial results on March 3, 2021, after market close. A conference call and webcast will follow on March 4, 2021, at 8:00 a.m. PST. Shareholders and interested parties can join via a provided link or by telephone. Avino primarily operates in Mexico, focusing on silver production and maintaining an unhedged position. The company's strategy emphasizes organic growth and strategic acquisitions.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE: ASM) announced the initiation of its 2021 drilling program, comprising 12,000 meters targeting key veins at the Avino property. The program aims to expand mineralization and confirm continuity in areas like the El Trompo, Santiago, and Avino ET veins. The exploration budget for 2021 is set between US$6 million and US$8 million. Additionally, improvements in the dry stack tailings project are underway, expected to enhance operational safety and efficiency.