The following is a summary of the Avino Silver & Gold Mines Ltd. (ASM) Q4 2023 Earnings Call Transcript:
Financial Performance:
Avino Silver & Gold Mines Ltd. reported Q4 net income of $0.5 million and adjusted earnings of $2 million or $0.02 per share.
Q4 revenues were at $12.5 million with full-year revenues almost reaching $44 million.
Mine operating income for Q4 was $2.6 million, resulting in a $3.6 million cash operating margin. Full-year mine operating income was at $7.8 million.
Cash costs per silver equivalent payable ounce for Q4 and the yearly average were $15 and $15.61 respectively, indicating a decrease from previous quarters in 2023.
Business Progress:
Avino announced 2023 Q4 and year-end production with silver equivalent production at 558,000. They plan to process between 700,000 to 750,000 tonnes in 2024.
They completed the pre-feasibility study on the Oxide Tailings project, estimating a net present value of US$61 million post-tax, and projecting it as a future asset.
A long-term land use agreement was signed for the development of La Preciosa in Durango, Mexico, with capital costs between US$3 million and US$4 million.
The company aims to decrease costs over the next two to three years due to higher-grade silver mines coming online and expects to expand production in the next five years to the 7.5 million to 9 million-ounce silver equivalent range.
More details: Avino Silver & Gold Mines IR
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