Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE) a long-standing silver producer in Mexico, achieved fourth quarter production totaled 735,557 silver equivalent ounces, and full year 2024 production results of 2.65 million silver equivalent ounces.
PRODUCTION HIGHLIGHTS – Q4 2024 (COMPARED TO Q4 2023)
Silver Equivalent Production Increased 32%: Avino produced 735,557 silver equivalent ounces in Q4 2024, representing a 32% increase from Q4 of 2023 and a 10% increase compared to the previous quarter. The increase was driven by improved gold grades and increased mill throughput.
Mill Throughput Increased 26%: The Company processed 181,733 tonnes in Q4 2024, a 26% increase compared to Q4 2023, and the highest quarter in the Company’s history. Mill availability and performance is a result of considerable efforts from our operations team in Durango, allowing for meaningful improvements in operational metrics, as well as improving the Company’s cash and working capital positions.
Gold Production Increased 76%: Q4 2024 production of 2,560 gold ounces represented a 76% increase compared to Q4 2023 and was our highest quarter of gold production in 2024. Improved feed grade accounted for the majority of the increase, alongside the mill availability noted above.
PRODUCTION HIGHLIGHTS – FULL YEAR 2024 (COMPARED TO 2023)
Silver equivalent production increased 10%: Avino produced 2,652,498 silver equivalent ounces in 2024, representing a 10% increase from 2023. The positive movement was primarily due to improved copper and silver grades, improved copper recoveries, and higher mill feed compared to 2023. Full year production results were within our production estimate of 2.5 to 2.8 million silver equivalent ounces, even after adjusting for changes in metal prices throughout 2024. Silver equivalent production for the year would have been 2.73 million silver equivalent ounces using original budget metal prices, at the upper end of our production estimate range.
Health and Safety Performance Improvements: The Company achieved a reduction in Lost Time Incident Frequency Rate (“LTIFR”) of 32% for 2024 to 3.39 per 1,000,000 hours worked, while seeing an increase in hours worked by 47% at the Avino operations. Reportable lost time incident frequency rate also decreased to 0.07, down over 90% from 2023.
Avino Mine Production – Q4 and FY2024 compared to 2023
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