Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American; FSE: GV6, “Avino” or “the Company”) a growing silver producer in Mexico, released today its consolidated financial results for the Company’s third quarter of 2023. 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.

Third Quarter 2023 Financial Highlights

Revenues of $12.3 million, increase of over $3 million from both Q1 and Q2 2023
Mine operating income of $2.4 million, $3.1 million net of non-cash costs of sales
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) 3 of $0.7 million
Adjusted earnings3 of $1.6 million, or $0.01 per share
Net loss of $0.8 million, or $0.01 per share, driven by non-cash items
Cash costs per silver equivalent payable ounce sold1,2 - $16.90 per ounce
All in sustaining cash cost per silver equivalent payable ounce sold1,2 - $22.69 per ounce
Cash generated by operating activities (pre working capital adjustments) of $1.8 million
Working capital of $7.4 million, up $2.8 million from June 30, 2023
“During the third quarter of 2023, the Avino Mine provided consistent production results although impacted by the lower copper grade areas we were mining coupled with lower recovery rates,” said David Wolfin, President and CEO. “Our financial performance was improved from previous quarters, with stronger revenues of over $12 million resulting from higher sales volumes, as well as improved margins helped by the weakening of the Mexican Peso against the US dollar over the previous quarter. We remain focused on moving our pipeline of projects forward to achieve transformational growth, becoming an intermediate silver producer in Mexico, and delivering the best performance for our shareholders and stakeholders.”

Financial Highlights

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https://avino.com/news/2023/avino-reports-q3-2023-financial-results/