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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. (NYSE: ASM) reports a tragic workplace incident resulting in the loss of a contractor's employee at the Avino Mine in Durango, Mexico, as announced on April 5, 2023. The company's CEO, David Wolfin, expressed condolences to the deceased's family and colleagues. Despite this tragic event, Avino does not expect any disruption to production at the mine. Avino remains committed to supporting the Mexican authorities in their investigation. The company continues to focus on creating shareholder value through profitable growth and controls significant mineral resources totaling 368 million silver equivalent ounces. Operations remain environmentally responsible and cost-effective, ensuring the well-being of surrounding communities.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE American: ASM) announced promising metallurgical results from its Oxide Tailings project, which has a resource of 5.7 million tonnes with a silver equivalent grade of 95 g/t. The project aims to reprocess oxidized material previously underutilized due to limitations in conventional methods. Highlights include a 408% increase in measured and indicated resources since 2021 and significant recoveries of gold (up to 89.5%) and silver (up to 90.4%) using conventional techniques. The results pave the way for a Pre-Feasibility Study and align with Avino's growth strategy in Mexico.
Avino Silver & Gold Mines Ltd. (ASM) reported its fourth quarter and full year 2022 financial results, highlighting a record revenue of $14.6 million for Q4 and $44.2 million for the year, a remarkable 294% increase year-over-year. The mine operating income stood at $4.4 million for Q4 and $15.1 million for the year. Despite strong revenue growth, net income fell by 51% to $1.3 million for Q4. Cash costs per silver equivalent ounce were $11.76 for Q4 and $10.34 for the year. The company successfully ramped up production, achieving significant increases in silver and gold ounces produced, and continues its growth strategy with the La Preciosa acquisition.
Avino Silver & Gold Mines Ltd. (AMEX: ASM) will announce its Fourth Quarter and Year End 2022 financial results on March 28, 2023, after market close. A conference call and webcast are scheduled for March 29, 2023, at 8:00 a.m. PDT to discuss the results. All interested parties can participate to ask questions during the call. Avino is focused on silver production from its Avino Mine in Durango, Mexico, with a mission to create shareholder value through organic growth and strategic acquisitions. The company controls approximately 368 million silver equivalent ounces of mineral resources.
Avino Silver & Gold Mines has released an updated mineral resource estimate (MRE) showcasing substantial increases across several deposits. Highlights include:
- Measured and Indicated Resources: 161 million silver equivalent ounces, a 38% increase.
- Inferred Resources: 70 million silver equivalent ounces, a significant 90% rise.
- Oxide Tailings: 5.7 million tonnes in resources, up 407%, with 17.4 million silver equivalent ounces, a 287% increase.
The update reflects continued exploration success and positions Avino for long-term growth, with an ambitious 2023 exploration program planned.
Avino Silver & Gold Mines Ltd. (NYSE: ASM) has outlined its 2023 operational outlook and highlights from 2022. The company plans to process approximately 700,000-750,000 tonnes of ore, aiming for production of 2.8M to 3.2M silver equivalent ounces. Capital expenditures will range from $9M to $11.5M, funded from Q4 2022 cash flows. Key 2022 milestones include the acquisition of La Preciosa, record production of 2,655,502 AgEq ounces, and completion of the dry-stack tailings facility. Avino's exploration efforts will focus on extending mineralization at the Avino Mine with 8,000 meters of drilling planned for the year.
Avino Silver & Gold Mines Ltd. (ASM) reported record production results for 2022, achieving 2,655,502 silver equivalent ounces, a remarkable 215% increase from 2021. In Q4 2022, production totaled 770,127 silver equivalent ounces, exceeding expectations. Significant improvements were noted in silver production, which rose by 89% to 309,856 ounces, and copper production increased by 37% to 1.5 million lbs. Key operational advancements include the full commissioning of the dry-stack tailings facility, enhancing safety and environmental sustainability. The company aims for intermediate producer status within five years, continuing to optimize mining processes.
Avino Silver & Gold Mines Ltd. (ASM) announced significant drill results from four holes below Level 17 at its Avino Mine in Durango, Mexico. The highlights include 248 AgEq g/t over 16.66 meters in Hole ET 22-12, with a deeper mineralization indication of 800 meters. Notably, the copper grade is increasing with depth, reaching 1.63% over 16.66 meters. Avino is expanding its exploration program into 2023 with plans for 8000 meters of drilling. The geological model suggests the presence of a deeper mineralized system linked to a porphyry center.
Avino Silver & Gold Mines Ltd. reported a strong performance for Q3 2022, generating $9.1 million in revenues, a 385% increase from Q3 2021. The company achieved record production of 778,008 silver equivalent ounces, up 20% from the previous quarter. Operating income was $2.1 million, with positive cash flows of $1.6 million. However, the company faced a net loss of $1.1 million. Cash balance decreased to $10.9 million from $24.8 million at year-end 2021. The company is focusing on growth and cost management amidst market fluctuations.
Avino Silver & Gold Mines Ltd. (TSX: ASM, NYSE American: ASM) will announce its Third Quarter 2022 financial results on November 9, 2022, after market closure. A conference call and webcast is scheduled for November 10, 2022, at 9:30 a.m. PST. Participants can join the call by dialing 1-800-319-4610 (toll-free in Canada & USA) or 1-604-638-5340 (international). Avino is focused on silver production from its Avino Mine in Mexico and aims to create shareholder value through organic growth and strategic acquisitions.